National

Federal government promises $2.55B in low-cost loans to build Toronto rental homes

Darpan News Desk The Canadian Press, 19 Mar, 2025 10:07 AM

The federal government is promising billions in low-cost financing to help build thousands of rental homes in Toronto, including more than a thousand affordable units.

Ottawa says it will provide $2.55 billion in financing through its Apartment Construction Loan Program, to be administered by the Canada Mortgage and Housing Corporation.

The city says the money will go toward building more than 4,800 rental homes, of which at least 1,075 will be affordable housing.

Toronto, meanwhile, says it will offer nearly $235 million in financial incentives such as relief from development charges, fees and property taxes.

The city says the newly announced low-cost loans will allow it to speed up seven rental housing projects that are set to be under construction by the end of next year.

It says those projects are expected to include at least 20 per cent affordable rental homes.

Toronto Mayor Olivia Chow said the "landmark agreement" will help reduce barriers to build housing and help secure affordable homes "for generations to come."

Prev Next

MORE National ARTICLES

Poilievre's proposed incentives for First Nations water, resource projects draw fire

Conservative Leader Pierre Poilievre says he would incentivize First Nations to support natural-resource projects through industry taxes and revisiting how much sway Indigenous Peoples and environmental considerations have over approving projects. The proposals drew swift criticism from some experts and researchers.

Poilievre's proposed incentives for First Nations water, resource projects draw fire

Indigenous kids in care more likely to experience poor health later in life: report

Indigenous people who were in government care as children experience poorer health and socioeconomic outcomes later in life than those who were never in care, a new Statistics Canada report says. They suffer higher rates of disability, lower self-rated health levels and more homelessness, and are more likely to struggle to meet basic household needs, the report says.

Indigenous kids in care more likely to experience poor health later in life: report

Ex-coroner says B.C.'s drug policy overhaul looks like 'impulsive political decision'

British Columbia's former chief coroner says she's disappointed by the province's overhaul of its program that provides prescription alternatives to toxic street drugs, a shift she says "feels like a really impulsive political decision." Lisa Lapointe said the move to a "witnessed-only" model in which people are supervised while consuming their prescription drugs appeared to ignore scientific evidence.

Ex-coroner says B.C.'s drug policy overhaul looks like 'impulsive political decision'

Internal military report blames botched shooter drill on poor organization

During the drill, which took place on Nov. 12 at a service depot at CFB Longue-Pointe in Montreal, military police also confused a racialized employee with a drill participant playing an active shooter and wrestled him to the ground.

Internal military report blames botched shooter drill on poor organization

70% of Canadians support retaliatory tariffs on United States: poll

Seventy per cent of Canadians are in favour of dollar-for-dollar retaliatory tariffs on the United States, a new poll suggests. Nearly half of respondents to the Leger poll — 45 per cent — said they were strongly in favour of such tariffs, while 25 per cent said they were somewhat in favour.

70% of Canadians support retaliatory tariffs on United States: poll

Police release names of victims in Abbotsford double homicide

Police have released the names of the two victims in an Abbotsford double homicide in January. A statement from the province's Integrated Homicide Investigation Team says police responded to a vehicle fire in Sumas Mountain Regional Park on Jan. 3 and found a 2014 Mitsubishi Outlander engulfed in flames.