OTTAWA — Prime Minister Mark Carney announced the launch of Build Canada Homes (BCH) on Sunday, with an initial funding of $13 billion, in the hopes of getting more affordable housing built faster in Canada.

Carney made the announcement at a modular housing site in his riding of Nepean, in Ottawa, the day before Parliament is set to return for the fall session. He was accompanied by Housing Minister Gregor Robertson.

BCH will have the mandate of building and financing affordable housing — defined as monthly rent or mortgage being no more than 30 per cent of pretax household income — for middle-income workers to people at the lower end of the income scale.

Those could include minimum-wage workers, seniors on a fixed income, students or people who are homeless or at risk of being homeless

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