Interest rate uncertainty and fluctuations in the bond market have been a challenge for housing developers, including Crown corporation Build Canada Homes, Ana Bailão, the agency’s CEO, said at an Empire Club of Canada event in Toronto on Friday. Thin margins on affordable housing builds have made those projects particularly vulnerable to market volatility, she said. (The Logic)

Talking point: The government established Build Canada Homes to carry out Prime Minister Mark Carney’s plan to double the pace of housing construction in the country to 500,000 new units a year by 2035. In its first year, it committed to build 19,000 homes, of which 2,300 are under construction, said Bailão. She said the agency helps reduce development risks by providing rezoned or serviced land, coordinating government funding and offering developers financial tools such as guarantees. Bailão teased a forthcoming announcement to deliver 1,000 affordable homes across small and mid-sized communities. Bailão described the projects as collaborations between a modular manufacturer, municipalities, financing partners and non-profit owners and operators. She did not disclose the locations, project costs or scope of the agency’s contribution.

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