Mr. Speaker, I am pleased to speak today at second reading to Bill C-20, an act respecting the establishment of Build Canada Homes.
The housing crisis is hitting hard across the country. Too many families, too many young people, too many seniors are spending more than 30% of their income on housing. Too many people are priced out of the market. We have a collective responsibility to take ambitious, thorough and creative action.
Bill C-20 is a strategic response. By making Build Canada Homes a Crown corporation, we are giving it operational independence, the ability to take calculated risks and the governance necessary to achieve large-scale results, while remaining fully accountable to Parliament and Canadians.
Backed by an initial investment of $13 billion announced in the 2025 budget, Build Canada Homes will have the tools it needs to build more housing that is more affordable, more quickly. A clear definition of affordable housing is housing that does not exceed 30% of a household's pre-tax income, based on regional realities.
Beyond the structures and numbers, this bill is first and foremost a partnership project with the provinces and territories. Examples include the agreements reached between Quebec and Nova Scotia; the partnerships with indigenous communities, such as the agreement in principle signed between Nunavut and Nunavut Tunngavik Incorporated; and the partnerships with municipalities. The Federation of Canadian Municipalities has clearly welcomed this measure. Other examples include the partnerships with non-profit organizations, housing co-ops and private developers that are ready to build.
I would now like to talk about my riding of Sherbrooke. The housing crisis is very real in my community. Vacancy rates remain very low. Families, students and vulnerable people have serious needs.
Then again, Sherbrooke is also a laboratory for innovation. It is a vibrant university town, driven by the Université de Sherbrooke and the Sherbrooke CEGEP, where population growth is accompanied by a remarkable entrepreneurial spirit.
Our developers are not just builders. They are partners in social and economic development. They have been able to think up human-scale projects that are integrated into their neighbourhood, promoting diversity and architectural quality. A number of recent projects in Sherbrooke illustrate that creativity: mixed-income housing projects, which combine market-priced housing with affordable units; projects that incorporate community spaces and local services; initiatives that prioritize wood, energy efficiency and sustainable practices. That is exactly the spirit that Build Canada Homes wants to encourage.
Thanks to its new Crown corporation structure, Build Canada Homes will be able to make better use of public lands, particularly by integrating federal expertise in real estate development; deploy flexible financial tools to support complex arrangements; encourage modern construction methods, including prefabricated housing; and support non-commercial and community housing where the market alone is not enough.
In Sherbrooke, as elsewhere, we are seeing the emergence of a new generation of developers who understand that profitability and social responsibility are not mutually exclusive, but complementary. Bill C‑20 is creating the conditions needed to amplify that momentum.
This is not about replacing the market, but about complementing it, structuring it and stimulating it where the needs are greatest. The CMHC will continue to play its key role. Build Canada Homes will focus on persistent gaps, non-market housing, the strategic use of public lands and the structural transformation of our capacity to build.
We need a streamlined organization focused solely on delivering housing. We are already getting results. In just a few months, Build Canada Homes has launched its national portal, published its investment policy framework, issued requests for qualifications for thousands of units on federal lands and signed major memoranda of understanding. That is not theory. It is action.
The developers I meet in Sherbrooke talk about clear needs: predictability, quick decision-making and financial flexibility.
By becoming a Crown corporation, Build Canada Homes will be able to hold assets, invest directly, enter into complex transactions and act with the agility required in a rapidly changing market. This will enable us to support more meaningful projects, such as housing for women fleeing violence, adapted housing for people with disabilities, cooperative projects led by community-based organizations and residential complexes for seniors who wish to remain in their community. We will do this with local workers and businesses.
Our buy Canadian policy aims to mobilize public funds to strengthen our economic sovereignty. In an uncertain global context, investing in housing also means investing in our industrial capacity, our materials and our expertise.
In Sherbrooke, this means supporting entrepreneurs, engineers, construction workers and the entire regional supply chain. Housing is a key economic policy. Every home built generates activity, jobs and tax revenue. Every completed project contributes to the attractiveness of our region and the vitality of our neighbourhoods.
Bill C‑20 is a bold and necessary change in the way we plan, fund and build housing. It gives Build Canada Homes the independence and means to act. It recognizes that governments, municipalities, community organizations, co-ops and private developers have to work together to succeed. It taps into the very real energy I see in Sherbrooke, that ability to turn ambitious ideas into tangible projects for the good of families, now and into the future.
By passing Bill C‑20, we are sending a clear message: We take the housing crisis seriously, we trust our partners on the ground and we choose to act ambitiously for Sherbrooke, for Quebec and for all Canadians.