Carney pledges $2.7B for affordable housing projects in Toronto
Toronto housing funding boosts 5,600 rental homes with $2.7B for new builds See how federal support could speed affordable units and ease rent pressure now
Prime Minister Mark Carney announced $2.7 billion in federal funding over three years for more than 18 housing projects across Toronto.
The plan aims to support 5,600 rental homes, including about 1,800 that will be deeply affordable, supportive or rentcontrolled. Carney said 4,500 homes are expected to be under construction by the end of this year.
The funding is split into two parts: more than $310 million for nonprofit housing projects on cityowned land, and more than $1.8 billion in lowcost financing for privatesector developments. City officials said the projects are intended to help address rising rents and housing insecurity in neighbourhoods most affected by eviction pressure.