Promises $2.7 billion
The federal government says it is investing $2.7 billion to help build thousands of new rental homes in Toronto.
Prime Minister Mark Carney made the announcement on Wednesday during a news conference alongside Minister of Housing and Infrastructure Gregor Robertson and Toronto Mayor Olivia Chow.
“For decades, the simple fact is Toronto didn’t build enough housing, and too much of what was built was unaffordable for most Torontonians. Prices driven up by development charges, by taxes, by rising construction costs, and then lack of availability of land,” Carney said.
Officials said construction is expected to begin on more than 4,500 of the homes by the end of this year.
Nine projects on city-owned lands in downtown Toronto, Scarborough, Etobicoke, Parkdale and the waterfront. “All of these projects had been approved in the past.” Carney said.
Other projects are located across downtown Toronto, Leaside, Flemingdon Park, the Junction Triangle, Scarborough and Weston.
Full Read:
- www.bnnbloomberg.ca/
- https://www.bnnbloomberg.ca/business/economics/2026/08/05/carney-promises-27-billion-to-build-rental-homes-in-toronto/
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