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Liberals promise to build nearly 500,000 homes per year, create new housing entity

  • Liberal Leader Mark Carney announced a housing plan on March 31, 2025, in Toronto to build nearly 500,000 new homes annually in Canada.
  • The plan responds to Canada's housing crisis by proposing to double current construction rates and create a new federal agency, Build Canada Homes.
  • A new federal organization named Build Canada Homes is planned to oversee affordable housing projects and provide more than $25 billion in funding to support Canadian manufacturers of prefabricated homes, while placing large orders to accelerate the pace of construction.
  • The Liberals plan to reduce municipal development charges by 50% for a period of five years, which could lower the cost of a two-bedroom apartment in Toronto by approximately $40,000, and they intend to allocate $10 billion towards financing affordable housing projects.
  • If implemented, this plan could accelerate affordable housing construction nationwide and improve housing access, reflecting a federal re-engagement in homebuilding.
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Noovo Info broke the news in on Monday, March 31, 2025.
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