OTTAWA — Prime Minister Mark Carney announced the launch of Build Canada Homes (BCH) on Sunday, providing an initial funding of $13 billion aimed at accelerating the construction of affordable housing in Canada. The announcement took place at a modular housing site in Nepean, Ottawa, just before Parliament reconvenes for its fall session. Carney was joined by Housing Minister Gregor Robertson during the event.

BCH is tasked with building and financing affordable housing, which is defined as housing where monthly rent or mortgage payments do not exceed 30 percent of a household's pretax income. This initiative targets a range of individuals, including middle-income workers, minimum-wage earners, seniors on fixed incomes, students, and those experiencing homelessness or at risk of it.

The program aims to construct affordable housing on a large scale, including transitional housing, community housing, and multi-unit affordable housing, while excluding detached, single-family homes. As a first step, BCH will collaborate with Canada Lands Company to develop six sites across the country, with plans to build 4,000 factory-built homes on federal land. A senior government official indicated that construction on these sites is expected to begin in 2026, but it may take several years before the first tenants or homeowners can move in.

Of the $13 billion allocated, $1.5 billion will be directed to the Canada Rental Protection Fund to safeguard existing affordable rental housing. Additionally, $1 billion is earmarked for transitional housing for individuals at risk of homelessness. BCH will also partner with the Nunavut Housing Corporation to construct over 700 affordable housing units in the North, where housing needs are particularly acute.

In response to the announcement, Conservative Leader Pierre Poilievre criticized the initiative, arguing that it adds another layer of bureaucracy that could hinder progress. "We have the builders, we have the trades, we have the companies. They have the money, they’d love to get building. What’s standing in the way is bureaucracy, and so Mark Carney’s solution is to add another bureaucracy that will only slow things down," Poilievre stated during a caucus meeting. He further noted that it took six months to establish a new office under Carney's leadership, which has yet to produce any new homes.

A senior government official mentioned that existing affordable housing programs, such as the Canada Mortgage and Housing Corporation’s Affordable Housing Fund, will eventually be integrated into BCH once their current funding is exhausted. "The idea is that, as we go forward, this becomes the arm for affordable housing projects," the official explained during a media briefing.