Canadian Government Commits $2.7 Billion for Toronto Rental Housing
The Canadian federal government has announced a $2.7 billion investment to construct thousands of new rental homes in Toronto. Prime Minister Mark Carney, alongside Minister of Housing and Infrastructure Gregor Robertson and Toronto Mayor Olivia Chow, revealed the plan to address the city's housing shortage. The initiative aims to build over 5,600 homes, with nearly 2,000 designated as affordable. The funding will be distributed through two streams, supporting projects on city-owned lands and through the CMHC’s Apartment Construction Loan Program. Construction is expected to begin on more than 4,500 homes by the end of the year, with completion anticipated by March 2031. 
