Key Takeaways:
- The Government of Canada has launched Build Canada Homes to increase the supply of affordable housing in Canada.
- The Affordable Housing Fund (AHF) provides funding for new affordable housing and the renovation and repair of existing, affordable and community housing.
- Over $50 million in combined funding has been announced to build 77 new homes for independent seniors and families in Victoria, British Columbia.
- The project is part of a multi-phase, master-planned development and will include 68 apartments and 9 townhomes, as well as an amenity building and communal green space.
- The Government of Canada has committed $13.72 billion to support the creation of over 54,100 units and the repair of over 174,600 units through the Affordable Housing Fund.
Introduction to Canada’s Housing Crisis
The Government of Canada has recognized the need for immediate action to address the country’s housing crisis. With many Canadians struggling to find affordable homes, the government has launched a bold new approach to increase the supply of housing in Canada. Central to this effort is the launch of Build Canada Homes, a program designed to increase the pace of affordable homebuilding and provide transitional and supportive housing for those in need. Build Canada Homes will work with provinces, territories, municipalities, and Indigenous communities to build deeply affordable and community housing for low-income households, as well as partner with private market developers to build affordable homes for the Canadian middle class.
The Affordable Housing Fund
The Affordable Housing Fund (AHF) is a key component of the Government of Canada’s efforts to address the housing crisis. The AHF provides funding through low-interest and/or forgivable loans or contributions to partnered organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. This $16.1 billion program under the National Housing Strategy (NHS) gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous Peoples, people living with disabilities, those with mental health or addiction issues, Veterans, and young adults. As of September 2025, the Government of Canada has committed $13.72 billion to support the creation of over 54,100 units and the repair of over 174,600 units through the Affordable Housing Fund.
New Funding Announcement
A recent announcement has been made regarding the allocation of over $50 million in combined funding to build 77 new homes for independent seniors and families in Victoria, British Columbia. The project, located at 8 Chown Place, is part of a multi-phase, master-planned development and will include 68 one-, two-, and three-bedroom apartments and 9 three-bedroom townhomes. The development will also feature an amenity building and communal green space to be shared by all current and future residents. The homes will be owned and operated by The Gorge View Society, a non-profit organization that has been providing dignified, safe, and secure housing for people with modest means for over 70 years.
Government Support and Partnerships
The funding for the Chown Place project is being provided by the federal government, the Province of British Columbia, the City of Victoria, and The Gorge View Society. The federal government is contributing $28.2 million through the National Housing Strategy’s Affordable Housing Fund, while the Province of British Columbia is providing $12.6 million through the Community Housing Fund grant, as well as annual operating funding of $900,000. The City of Victoria is contributing $770,000 through the Affordable Housing Grant, and The Gorge View Society is providing land valued at $7.5 million and approximately $126,000 in funding. This partnership demonstrates the collaborative effort being made to address the housing crisis in Canada and provide affordable housing options for those in need.
Conclusion and Next Steps
The launch of Build Canada Homes and the Affordable Housing Fund are significant steps towards addressing Canada’s housing crisis. The Government of Canada is committed to increasing the supply of affordable housing and providing support to those who need it most. With the help of partners like The Gorge View Society, the Province of British Columbia, and the City of Victoria, the government is working to create more affordable housing options and build stronger, more inclusive communities. For more information on the Government of Canada’s housing initiatives, visit canada.ca/housing. To learn more about Build Canada Homes and the Investment Policy Framework, visit the Build Canada Homes portal.