Ottawa/IBNS-CMEDIA: Prime Minister Mark Carney on Friday announced the approval of eight affordable housing projects in Ottawa that will deliver more than 1,100 new rental homes.
The projects, backed by the federal government’s Build Canada Homes initiative, exceed initial targets by nearly 10%, with more than 90% of the units designated as affordable rentals.Most are expected to begin construction before the end of the year.
The announcement builds on a recently forged federal-municipal partnership with the City of Ottawa aimed at constructing up to 3,000 mixed-income affordable rental homes.
According to a statement, the latest approvals mark a significant step toward meeting that goal while accelerating housing supply in one of Canada’s tightest rental markets.
Since its launch in September, Build Canada Homes has committed to more than 10,000 housing units nationwide, with over 1,400 already under construction or set to break ground in the coming months.
To further speed up development, the federal government is also rolling out the Build Communities Strong Fund, designed to support housing-enabling infrastructure and reduce municipal development charges.
Under a new agreement with Ontario, municipalities will cut development charges by half for three years, a move officials say could lower the cost of building a two-bedroom apartment in Ottawa by more than $15,000.
Carney said the initiative reflects the government’s broader economic strategy focused on affordability and long-term growth.
“We’re working in partnership with the City of Ottawa to deliver on that promise, fast-tracking projects that build thousands of new affordable homes,” he said.
The government said aligning federal funding with municipal land and planning capacity is key to accelerating construction and addressing Canada’s housing shortage.
(Reporting by Suman Das)
