Canada's new government invests $2.7 billion to build 18 housing projects in Toronto Canada's new government, in partnership with the City of Toronto, will invest over $2.7 billion to build more than 18 housing projects across Toronto, with shovels in the ground on more than 4,500 homes before the end of this year. The portfolio includes affordable, supportive, rent-geared-to-income, and rent-controlled housing. Canada's new government, in partnership with the City of Toronto, will invest over $2.7 billion to build more than 18 housing projects across Toronto, with shovels in the ground on more than 4,500 homes before the end of this year. Every home in this portfolio is a rental. The portfolio includes affordable, supportive, rent-geared-to-income, and rent-controlled housing. A healthy housing system needs the full range, and this partnership builds it through two complementary channels. Non-market housing is owned and operated by non-profit organizations, housing cooperatives, or government and public agencies, with the primary objective of ensuring affordability.Through the Apartment Construction Loan Program, market housing is built by private developers and rented at market rates, it is the largest source of new supply, adding homes at scale to ease pressure across the whole system. The partnership will support a 100-unit, Indigenous-led supportive housing development at 15 Denison Avenue.Two projects lead the way in showcasing Build Canada Homes' modern methods of construction, with a mass-timber, low-carbon build at 1113-1125 Dundas Street West and a volumetric-modular development at 805 Wellington. These methods build faster, cut waste, and reduce emissions by up to 22%, helping deliver sustainable, affordable housing at scale. The portfolio is expected to support roughly 2,100 jobs a year over its construction period.This partnership with Toronto builds on the federal government's work over the past year to supercharge housing construction across the country. In September, we launched Build Canada Homes to build housing at scale and speed. Since its launch, Build Canada Homes has already committed to nearly 17,000 units through 17 partnerships, with more than 1,900 homes already under construction.We have eliminated the GST on homes up to $1 million for first-time homebuyers – saving Canadians up to $50,000 on the purchase of their first home. In Ontario, we are eliminating the full 13% of the HST for new homes, saving buyers up to $130,000 on the purchase of their home. In Toronto, those savings go even further.Through the Affordable Housing Financing Program, we provided the City of Toronto with $1.5 billion to cut residential development charges by 40 to 60% – reducing the cost of a new single or semi-detached home by roughly $83,000. In the face of global uncertainty, Canada's new government is building across the country to deliver the strong, safe, and affordable homes Canadians need to live the lives they want for themselves.We are working in the spirit of cooperative federalism – in full partnership with provinces, territories, and municipalities – to build a stronger, fairer, and more prosperous Canada for all