The investment policy is our public answer to that question. It lays out the KPIs the organization will assess as it reviews applications. What is it trying to incentivize? How is it measuring success in terms of the allocation of its own dollars?
As I mentioned, there's a good argument that all supply is good supply. I tend to agree with that. Build Canada Homes will surpass the overall supply increase as one of its top three KPIs.
Affordability is the second one. I've talked a lot about that. We're not going to do interventions. Building non-market housing in isolated areas was an experiment that happened in the 1960s and 1970s. It wasn't very successful.
To your point about mixed income, homes and apartments are key. We'll be doing a percentage of these properties. Investments will be non-market, and then there will be a lot that will be market. Even with the 6,000 direct builds, not every home in that place will be strictly affordable, because when you bring in market actors, you bring in capital and you lower the costs. It's a key part of making developments go forward.
The third one—and probably the one we haven't talked a lot about today—is around modern methods of construction, which are our best bet to reduce the costs of home ownership over time. What Build Canada Homes is going to do is be a demand signal. It's not about modular and modern methods of construction by default, but the intention is to have that be a major part of its portfolio in order to spur that industry. That is a key industry for us for bringing the kind of affordable supply to the market we're going to need in order to deal with the housing challenge long term.
I've studied this for a number of years, and from my perspective, I do not see another avenue to dealing with the housing crisis, except through getting the cost of construction back down.
It's about raising people's salaries too. A really key part is having our standard of living as Canadians improve and our purchasing power improve. That's a key avenue to enabling people to purchase homes as well.