BURNABY, BC, Sept. 2, 2026 /CNW/ -- Far too many Canadians are struggling to find homes they can afford. Solving Canada's housing crisis requires immediate action to bring down costs, cut red tape, and build homes more quickly. The Government of Canada is stepping up with a bold new approach to build affordable housing across the country. We are focused on building great neighbourhoods that Canadians want to, and can afford to live in.

Central to that work, the Government of Canada has launched Build Canada Homes, which is helping increase the pace of affordable homebuilding. Build Canada Homes is also helping fight homelessness by building transitional and supportive housing – working with provinces, territories, municipalities, and Indigenous communities. It is building deeply affordable and community housing for low-income households, and partnering with private market developers to build affordable homes for the Canadian middle class.

As part of the Government of Canada's broader efforts to respond to the housing crisis, investments are being made across the housing continuum to respond to the needs of communities across Canada.

Today, the federal government, along with the City of Burnaby and the Burnaby Housing Authority announced nearly $92 million in combined funding to help build 183 secure, rental homes in Burnaby. This includes $84.5 million through the Apartment Construction Loan Program.

The homes consist of 58 two-bedroom and 125 three-bedroom units and are designed for families. The project is located at 6203 Marine Drive in the South Slope neighbourhood and will be situated near the Rosemary Brown Recreation Centre, schools, childcare, and other amenities.

The homes will be owned by the Burnaby Housing Authority on land leased long-term from the City of Burnaby, keeping them in public hands for generations. Burnaby is British Columbia's third largest city, and this project represents one of the largest new purpose-built rental townhome projects in the province.

The announcement was made by the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada alongside Mike Hurley, Mayor of Burnaby, and John Brendan McEown, CEO of Burnaby Housing Authority Corporation.  

The Government of Canada is making the housing investments that will help strengthen Canadian supply chains and create good jobs at every step of the homebuilding process – helping to build more homes and a stronger Canadian economy at the same time.

Quotes:

"Every Canadian deserves a safe and affordable place to call home. That is why the federal government is working with partners to deliver more rental housing, faster, in growing communities like Burnaby. Today's investment reflects our commitment to increasing housing supply, improving affordability, and helping build stronger, more resilient communities for generations to come." – The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada

"This project is an exciting milestone for Burnaby as one of the first developments led by the Burnaby Housing Authority, demonstrating the important role this new municipal corporation can play in delivering housing solutions that meet the needs of our community. By providing much-needed family-sized rental townhomes, this project fills an important gap in the housing market and is the first of many great projects to come." – Mike Hurley, Mayor, City of Burnaby

"We are proud to be delivering a landmark rental townhome community that showcases Burnaby Housing Authority's ability to accelerate the delivery of affordable and rental housing through strong partnerships. Working with the Government of Canada, the City of Burnaby, and Mosaic Homes, we are creating lasting community benefits while expanding housing choice. By delivering new affordable and market rental townhomes, we are providing housing options that will help more Burnaby residents and families put down roots in the community for years to come." – John McEown, Chief Executive Officer, Burnaby Housing Authority

Quick Facts:

• The $55 billion Apartment Construction Loan Program (ACLP) is providing low-cost financing to support more than 131,000 new rental homes across Canada by 2031 – 2032.
  • The ACLP provides fully repayable low-interest loans to encourage the construction of more rentals for middle-class Canadians. It creates a positive impact to the housing system at minimal cost to taxpayers.
  • A stable supply of purpose-built rental housing is essential for more people in Canada to have access to housing that meets their needs.
  • As of March 2026, CMHC has committed $30.82 billion in loans through ACLP to support the creation of more than 78,200 rental homes.
  • It is one of many programs and initiatives under the National Housing Strategy designed to help address housing needs across the housing continuum.
  • It complements other NHS initiatives that focus on funding affordable housing units for lower-income households.
• Funding provided for 6203 Marine Drive is as follows:
• • $84.5 million from the federal government, through the Apartment Construction Loan Program
  • $3.9 million from Burnaby Housing Authority
  • $833,000 in development cost charge credits from the City of Burnaby
  • $511,525 in development cost charge credits from TransLink
  • Metro Vancouver provided development cost charge waivers

Additional Information:

• Visit canada.ca/housing for the most-requested Government of Canada housing information. 
• Build Canada Homes is ready to partner with organizations committed to increasing the supply of affordable housing across Canada. Learn more about the portal and the Investment Policy Framework.
• Canada Mortgage and Housing Corporation (CMHC) is a federal Crown corporation and the foundation of Canada's housing system. For over 80 years, CMHC has supported the functioning of housing markets across the country through housing finance solutions — including mortgage loan insurance and securitization — while providing trusted, unbiased data, research and market intelligence to inform policy and decision making. Through its national presence, deep expertise in housing economics and finance, and a system-wide perspective, CMHC helps foster a more stable, well-functioning housing market that supports households, communities and the broader economy.
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SOURCE Canada Mortgage and Housing Corporation (CMHC)