Ottawa seeks banks and pension funds for affordable housing

Housing Minister Gregor Robertson says the federal Build Canada Homes agency is working to attract Canadian banks, pension funds and developers to finance affordable and mixed housing projects; the agency launched with $13 billion and has received about 450 applications.

The federal housing minister says Ottawa plans to enlist banks, pension funds and private developers to help deliver more affordable housing. Gregor Robertson described the role of the new Build Canada Homes agency in scaling up non-market and mixed developments. Build Canada Homes launched in September with $13 billion in capital and has received roughly 450 applications. The minister framed the effort as a way to steady construction activity when private-sector building slows. Key details: - Build Canada Homes was given an initial $13 billion capitalization to scale up non-market housing. - The agency has received about 450 applications from provinces, community housing groups and private developers. - One early project, the 540-unit Arbo development in Toronto, is planned to be at least 40 per cent affordable housing. - The Canada Mortgage and Housing Corp. reported housing starts rose 5.6 per cent in 2025, with gains concentrated in Alberta and Quebec while Ontario and British Columbia saw declines. - Officials say the government intends to reduce project risk to attract institutional capital such as banks and pension funds. Summary: The initiative is intended to channel public and private capital into non-market and mixed housing while relying on private builders for much of the construction. Officials say Build Canada Homes is pursuing institutional investors but details on incentives and timing remain unclear. Undetermined at this time.