![]() On November 7, 2023, the federal government announced that six surplus federal properties will be developed into more than 2,800 new homes in Edmonton, Calgary, St. Through the Canada Lands Company-a Crown corporation which has supported the construction of over 10,300 new homes since 2016-more than 29,000 new homes are set to be built on surplus federal lands by 2029. The Government of Canada owns and manages the largest real estate portfolio in Canada-and some of that land can be used to build more homes. Repurposing More Federal Lands for Housing In collaboration with the Co-operative Housing Federation of Canada and other co-op housing partners, CMHC is working to launch the co-developed program in early 2024. The 2023 Fall Economic Statement announces an investment of $309.3 million in new funding for the Co-operative Housing Development Program, which was announced in Budget 2022. The federal government has already taken action to make the math work for builders, more needs to be done. To achieve this, builders need access to the low-cost financing which makes it possible to build more homes, faster. ![]() The supply of rental housing in Canada needs to keep pace with our growing communities. ![]() Building More Homes, Faster More Financing for Apartment Construction In the 2023 Fall Economic Statement, the federal government is introducing new measures to incentivize the construction of new rental housing, protect renters and homeowners, and make it easier for Canadians to get those first keys of their own. ![]()
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