Prime Minister Mark Carney announced the creation of Build Canada Homes on Sunday, a new federal entity that he said will “supercharge housing construction” across the country with an initial capitalization of $13 billion.

Carney made the announcement at a modular housing site in Nepean, Ottawa, alongside Housing Minister Gregor Robertson. The program will be led by Ana Bailão, a former deputy mayor of Toronto and a candidate in the city’s 2023 mayoral race.

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“Today, the Minister of Housing and I are proud to launch Build Canada Homes, a new federal entity that will supercharge housing construction across Canada,” Carney said.

The new agency will focus on building and financing housing that costs no more than 30% of pretax household income. According to government doc

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