As the housing market stalls, the federal government is offering up to $2.55 billion in low-cost loans to build 4,831 rental homes in Toronto, at least 1,075 of which are expected to be rented at lower costs. (The Logic)
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As the housing market stalls, the federal government is offering up to $2.55 billion in low-cost loans to build 4,831 rental homes in Toronto, at least 1,075 of which are expected to be rented at lower costs. (The Logic)
Talking point: In exchange for the offer of loans, Toronto has agreed to lower development charges, fees and property taxes for builders. The city estimates those benefits will be worth about $234.83 million. Canada’s housing market has retreated as builders and buyers hit pause over high costs and U.S. trade war uncertainty. In Toronto, housing starts dropped 68 per cent in February compared to the same month last year. The new government loans are expected to spur construction of seven rental housing projects in Toronto that are set to begin building by the end of 2026. That includes 1,267 units along Toronto’s Waterfront at Quayside, which Ottawa has already spent $325 million to help revitalize.
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