Mr. Speaker, I am pleased to be here speaking to budget 2025, a Canada strong budget, and, specifically, elaborating on actions the Government of Canada has proposed to take on housing and infrastructure. I will share how the government is building on previous investments in housing by introducing more options for Canadians who need housing they can attain.
Federal efforts require construction and funding that can deliver. In response, the Government of Canada has outlined a comprehensive framework for moving forward, one that would accelerate the construction of affordable housing at scale. On September 14, 2025, the Government of Canada launched Build Canada Homes with an initial capitalization of $13 billion.
Build Canada Homes has a mandate to move quickly, marked by the Prime Minister's announcement of its first four investments and initiatives. It complements measures the government has introduced to remove local barriers, reduce development costs, fund essential infrastructure and incentivize purpose-built rentals. It leverages programs like the Canada housing infrastructure fund, the Canada community-building fund, the Canada public transit fund and the Canada Mortgage and Housing Corporation's housing programs, such as the apartment construction loan program and mortgage loan insurance products, to make projects viable.
Build Canada Homes is Canada's new federal agency, with the mandate to scale up the supply of affordable housing across Canada. By leveraging public lands and acting as a catalyst for modern methods of construction, Build Canada Homes is driving a more productive and innovative homebuilding sector. Build Canada Homes works differently than previous government entities by combining flexible financial tools, including low-interest loans, equity investments, contributions and guarantees. With land access and development expertise under one roof, it will make large-scale mixed-market developments financially viable and attract private capital and safeguard long-term affordability. The agency will work in partnership to reduce risk, address barriers and guide projects through the development phases.
By prioritizing modern methods of construction such as factory-built housing, Build Canada Homes will spark a more productive homebuilding industry, creating a steady demand for factory-built housing, which is expected to speed up delivery, reduce costs and improve sustainability. Working in partnership with non-profits, indigenous organizations, private developers and all orders of government, Build Canada Homes is accelerating the delivery of housing that Canadians need: faster, smarter and more affordable.
On November 22, 2025, Build Canada Homes released its investment policy framework, marking a significant milestone in its mission to accelerate the delivery of affordable housing across Canada. The investment policy framework establishes clear investment priorities, guiding principles and eligibility criteria, creating a more flexible, strategic and outcome-driven approach to housing development.
Under the investment policy framework, Build Canada Homes will prioritize projects that are ready to build, affordable and collaborative, with a strong emphasis on partnerships. Projects will leverage modern construction methods like modular and factory-built housing to cut costs and speed up delivery. Projects will also use Canadian materials to strengthen supply chains and support local manufacturing.
Through this framework, Build Canada Homes will leverage public capital to unlock stalled projects, will attract private and philanthropic investment, and will scale up innovative construction methods that reduce costs and accelerate delivery. The initial focus will be on shovel-ready projects that are financially sustainable and capable of generating long-term community impact, with particular emphasis on housing for low- and moderate-income households.
To support projects that deliver long-term affordability, sustainability and community benefit, Build Canada Homes will offer a suite of flexible financial options, including low-interest loans, equity investments, contributions and guarantees. Proposals will be evaluated on affordability outcomes, speed of delivery, financial viability and long-term community impact. The Canada Infrastructure Bank gets infrastructure projects built by leveraging private and institutional capital. The government will continue to leverage its expertise to find key strategic investments on a national scale.
In budget 2025, the “Canada Strong” budget, the Government of Canada announced its intention to amend the Canada Infrastructure Bank to increase the Canada Infrastructure Bank's statutory capital envelope from $35 billion to $45 billion. With this amount, the Canadian Infrastructure Bank will be able to invest more and more rapidly across its established sectors as well as in projects that have been referred to the Major Projects Office, regardless of sector or asset class, as long as they fall within the bank's legal mandate. This will unlock more projects with the partnership of private investment.
Budget 2025 also announced that the Canada Infrastructure Bank's target for investments in indigenous infrastructure that benefits first nations, Inuit and Métis communities across its priority sectors will increase from at least $1 billion to at least $3 billion. The government will work with first nations, Inuit and Métis partners to identify and support indigenous housing needs and priorities.
Richmond, my hometown, is one of Canada's most desirable housing markets. To help address affordability, the government created the housing accelerator fund to expedite construction. That fund is supporting the construction of at least 220 affordable rental units in Richmond, and the rapid housing initiative added another 25 units for women and women with children. I am working closely with the city to deliver more.
To streamline federal efforts and leverage development expertise, responsibility for Canada Lands Company has been transferred under the portfolio of the Minister of Housing and Infrastructure. As part of the federal government's bold response to Canada's housing crisis, Canada Lands Company's land and development expertise is transferring under the newly launched Build Canada Homes. This marks a strategic shift in how federal lands and development expertise are mobilized to accelerate affordable housing delivery across the country.
Build Canada Homes will apply a direct build approach to oversee and lead the construction of affordable, mixed-income communities. The direct build approach is one example of how Build Canada Homes will work to improve the availability of affordable housing for those who have been priced out of the market.
The Government of Canada has set out a long-term, comprehensive and flexible plan to make housing more affordable and accessible for Canadians. Build Canada Homes will change the way we build homes in this country. Bringing forward ambitious and practical solutions, the agency will not act alone. It will work in close partnership with developers, investors, manufacturers, provinces, municipalities and territories, as well as indigenous partners, to get housing financed and built. Build Canada Homes is an integral part of a broader range of Government of Canada measures to increase the supply of housing, make housing more affordable and accessible, and lead to transformative change in Canada's housing system. Its model exemplifies the work our government is doing to accelerate growth and help make Canada the strongest economy in the G7.