Mr. Speaker, through you, I would like to wish my husband, Mike, a happy 20th anniversary on St. Patrick's Day. We are on this crazy ride together, and it has really been wonderful.
As a former city councillor, I am very familiar with the development process and acutely aware of the housing crisis, so I really appreciate the opportunity not only to wish Mike a happy anniversary but also to talk about the importance of the Build Canada Homes act.
This legislation establishes Build Canada Homes as a Crown corporation dedicated to building truly affordable homes in communities across the country. The bill is the next major step in strengthening the federal government's capacity to address Canada's housing crisis. The need is very clear. Across the country, far too many Canadians are struggling to find homes they can afford. The phenomenon is not new, but it is urgent. In 2010, the Canadian Centre for Policy Alternatives published a report entitled “Canada's Housing Bubble: An Accident Waiting to Happen”. The headline on the news release reads, “Housing bubble at precarious 30-year peak”.
That was in 2010. Here we are 16 years later, and the challenge persists, through different political leadership and through different market conditions. There are many reasons for the complex challenges we face with Canada's housing system. Over the past 30 years, the Canadian building construction price index more than doubled, the cost of land and labour is rising, and through it all, the supply of homes simply did not keep pace with the growing demand for market housing. Governments at all levels did not invest in community, affordable, social and supportive housing, believing incorrectly that the private sector would fill that gap, when that is not its mandate. Although we are beginning to see promising improvements in several cities across the country, it is clear that more needs to be done, and crucially that it be done differently. This is why we are taking a new approach.
Since it was launched in September 2025, Build Canada Homes has made progress in scaling up the supply of affordable housing across Canada. It is driving a more productive and innovative homebuilding sector and acting as a catalyst for modern methods of construction. Combining access to federal lands, development expertise and flexible financial tools under one roof, Build Canada Homes makes it simpler and faster to get big projects off the ground.
With low-interest loans, equity investments, contributions and guarantees, Build Canada Homes can fund construction in an innovative way. It is designed to partner across the housing ecosystem. It works in partnership with non-profits, indigenous organizations, private developers and all orders of government. The federal government's investment in housing supports local jobs and local businesses, helping to grow Canada's economy everywhere.
Build Canada Homes is also implementing the Government of Canada's buy Canadian policy. This means prioritizing projects that use Canadian materials and strengthening domestic supply chains while creating jobs that pay well. This aligns extremely well with the government's significant investments in training for construction trades.
By also prioritizing modern methods of construction, such as factory-built housing, Build Canada Homes will spark a more productive homebuilding industry. I have seen this first-hand. Guelph's Pacd Homes can flat-pack a home. People from the auto sector, one of the most productive sectors in the country, have figured out a way, with new materials, to assemble, in particular, ADUs or additional dwelling units. They can ship them. They can assemble them in four to six weeks if they have the zoning and the land. We are going to see more and more of these innovations right across the country. This will drive a steady demand for factory-built housing to speed up delivery, reduce costs and improve sustainability.
The industry committee just completed a study on productivity and how Canada can boost it. Did members know that industries with the lowest productivity often include those that are highly labour-intensive, slow to adopt new technologies or composed mainly of small firms? Those are all characteristics of residential construction. In fact, in 2024, TD Bank identified construction as one of the lowest-performing sectors in terms of productivity and said it was at a 30-year low.
The need is so great that we can boost productivity in homebuilding, and there will still be plenty of room for smaller builders. Every new home that is built will mean more demand for Canadian steel, lumber and aluminum, helping workers and businesses thrive. A broad increase in supply will have a downward pressure on prices on the market side of the housing continuum. These are some tangible results provided by Build Canada Homes already.
In just a few months, Build Canada Homes has delivered measurable progress. Landmark agreements have been signed with many provinces and municipalities, and six federal land projects are advancing toward construction. Canada's housing crisis is being addressed. Do we wish it could happen overnight? Absolutely, we do. With new innovations, thousands of affordable homes are committed, and we should see shovels in the ground this year. Hundreds of projects are under review across the country, ready to break ground. These are concrete results that show how this new approach is turning ambition into action. It is what can be achieved when speed, innovation and especially collaboration are prioritized.
Housing advocates across the country are very excited. I met with housing proponents in Guelph just last week who are collaborating to submit a portfolio of projects. One is an affordable housing project for vulnerable families, and another is a multiresidential, permanent supportive housing project for seniors who are struggling with mental illness. These are not projects that the private sector would build. The private sector has a profit motive, which is fine, but the private sector in Guelph also has a big heart. It has been a huge provider of services, funding, supports and, very importantly, land in the last few years, to help previous Guelph projects literally get off the ground.
Land is so often the core of this issue, so this bill would also give the federal government the authority to transfer the land holdings and development experience of Canada Lands Company Limited to Build Canada Homes. This would streamline and consolidate federal tools to directly build affordable housing on public land for public good. Build Canada Homes and Canada Lands Company would continue to work together closely. They would continue to advance priority projects, including the direct-build sites, and ensure a smooth transition.
As a Crown corporation, Build Canada Homes would be overseen by a board of directors responsible for strategic direction, risk management and oversight of activities and performance. This would ensure alignment with Build Canada Homes' legislative mandate. A chairperson and CEO, both appointed by the Governor in Council, would provide leadership and ensure that the corporation's activities align with government priorities. The legislation, importantly, would provide Build Canada Homes with the independence to operate effectively, while ensuring clear lines of accountability to Parliament.
Once this legislation is passed and comes into force, Build Canada Homes will become a Crown corporation. It will be given the independence necessary to take risks and the operational autonomy it needs to focus on fulfilling its mandate, while remaining accountable to Canadians.
Making Build Canada Homes a Crown corporation will give it the flexibility and legal and operational autonomy it needs to fulfill its mandate. At the same time, it will maintain a clear framework of accountability to Parliament. It will be able to exercise a broader range of powers than a special operating agency, and it will be able to hold assets, make investments and conduct complex financial transactions.
This bill fulfills the commitment that the government made in budget 2025. It is a historic law that will help advance the mandate of Build Canada Homes, which is to build more housing more quickly and more affordably. It will guarantee safe and affordable housing for every Canadian.
Everyone in Canada, no matter where they live across the country, should have access to affordable housing. A home is not merely shelter. It is security, stability and connection to community. We are facing a housing crisis, one that has been growing for decades. In response, the new government is adopting a new model, a new approach, new construction methods and new partnerships and collaborations to accelerate housing construction, restore housing affordability and reduce homelessness.
Canadians need affordable housing now. This bill would help enable Build Canada Homes to continue to deliver on the federal government's promise to Canadians. It would provide a better, brighter future for homebuilding across our country.