Latest news with #PacificEconomicDevelopmentCanada
Cision Canada
6 hours ago
- Business
- Cision Canada
/R E P E A T -- MEDIA ADVISORY - FEDERAL AND PROVINCIAL GOVERNMENTS TO MAKE HOUSING ANNOUNCEMENT IN SAULT STE.MARIE/ Français
SAULT ON, July 29, 2025 /CNW/ - Media are invited to join Terry Sheehan, Member of Parliament for Sault Ste. Marie—Algoma, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, alongside the Honourable Rob Flack, Ontario's Minister of Municipal Affairs and Housing, Chris Scott, Member of Provincial Parliament for Sault Ste. Marie and Matthew Shoemaker, Mayor of Sault Ste. Marie for a housing announcement. Date: July 30, 2025 Time: 3:00 PM ET Location: 672 Second Line West, Sault Ste. Marie, Ontario P6C 2K9 SOURCE Canada Mortgage and Housing Corporation (CMHC)
Cision Canada
2 days ago
- Business
- Cision Canada
Building more homes in Toronto Français
TORONTO, July 28, 2025 /CNW/ - Solving Canada's housing crisis requires immediate action. To provide Canadians with increased access to affordable and sustainable housing, the government is supporting the construction of 159 new rental homes with an investment of over $81.5 million through the Apartment Construction Loan Program (ACLP). Today's announcement, made by the Honourable Gregor Roberston, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, is one that will help make housing more affordable for families in the city. Located at 3101 Bathurst Street Vivant at Bedford Park will be developed by Medallion Corporation. The nine-storey building will feature a thoughtfully designed, purpose-built rental apartment complex offering individuals and families tenancies in a modern, energy-efficient environment. The site is located close to public transit, restaurants, bakeries and shops within the vibrant North York community. Construction is underway and expected to be complete by the Fall of 2027. As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working hand-in-hand with our partners to bring down costs and build homes at a scale and speed not seen since the Second World War. Quotes: "The federal government is committed to catalyzing housing supply to bring down costs. This project will create more rental homes for people living and working in Toronto and is an example of what is possible when we strive for housing ambition. The project will be one where residents will have access to community, transit, and local businesses. This is another step forward in our bold, ambitious plan to build more homes." – The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada "Medallion has proudly been providing rental housing for more than 60 years. The CMHC's ongoing commitment to the Apartment Construction Loan Program is essential to building affordable rental homes, which this community and Toronto desperately need. We're thrilled CMHC has partnered with us on Vivant on Bedford Park, an apartment that will offer residents affordability, energy efficiency, accessibility and connections to transit." – Scott Cryer, Chief Financial Officer, Medallion Corporation Quick Facts: The National Housing Strategy (NHS) is a 10+ year, $115+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives are updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. The Housing and Infrastructure Project Map shows affordable housing projects that have been developed. As of March 2025, the federal government has committed $65.84 billion to support the creation of over 166,000 units and the repair of over 322,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence NHS is built on strong partnerships between the federal, provincial, and territorial governments, and continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private housing sectors. This includes consultations with Canadians from all walks of life, and people with lived experience of housing need. All NHS investments delivered by the federal, provincial, and territorial governments will respect the key principles of NHS that support partnerships, people, and communities The $55 billion Apartment Loan Construction Program (ACLP) is providing low-cost financing to support more than 131,000 new rental homes across Canada by 2031 – 2032. The ACLP provides fully repayable low-interest loans to encourage the construction of more rentals for middle-class Canadians. It creates a positive impact to the housing system at minimal cost to taxpayers. A stable supply of purpose-built rental housing is essential for more people in Canada to have access to housing that meets their needs. As of March 2025, CMHC has committed $23.35 billion in loans through ACLP to support the creation of more than 59,000 rental homes. It is one of many programs and initiatives under the National Housing Strategy designed to help address housing needs across the housing continuum. It complements other NHS initiatives that focus on funding affordable housing units for lower-income households. Budget 2024 announced enhancements to the ACLP which includes the program being extended from 2027 – 2028 to 2031 – 2032. The enhancements will allow applicants to apply for funding for on- and off-campus student housing to support post-secondary educational institutions as well as independent seniors housing. There are no longer minimum requirements relating to energy efficiency and accessibility, instead applicants will benefit from making stronger commitments to desired rental supply and social outcomes. Funding provided for the 3101 Bathurst Street project is as follows: $81.5 million in fully repayable loans from the federal government, through the Apartment Construction Loan Program. Additional Information:
Cision Canada
15-07-2025
- Business
- Cision Canada
Building 1,285 new homes in Toronto Français
TORONTO, July 15, 2025 /CNW/ - Solving Canada's housing crisis requires immediate action to bring down costs. To provide Canadians with increased access to affordable and sustainable housing, the government is supporting the construction of 1,285 new rental homes with an investment of over $650 million through the Apartment Construction Loan Program (ACLP). The announcement was made by Michael Coteau, Member of Parliament for Scarborough-Woburn, on behalf of the Honourable Gregor Roberston, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, alongside Michael Thompson, Councillor for Scarborough Centre. The 1,285 rental units will be comprised of three 45, 35, and 41-storey residential towers, located at 25 Borough Drive, and will be developed by Oxford Properties Group, the global real estate arm of OMERS. The development will feature residential and retail space and will offer a broad unit mix of 51 studios, 693 one-bedrooms, 411 two-bedrooms and 130 three-bedroom units, including 23 townhomes for people from various economic backgrounds, age demographics, and family structures. The site is located close to Scarborough Town Centre Shopping mall and will be near Scarborough Centre TTC station, which include GO Transit, and the future Scarborough Subway Expansion. As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working hand-in-hand with our partners to bring down costs and build homes at a scale and speed not seen since the Second World War. Quotes: "Our government is committed to driving housing supply to bring down costs. This project will create more rental homes for people living and working in Scarborough and is an example of what's possible when we work together in partnership with the private sector. This is another step forward in our bold, ambitious plan to build Canada strong." – The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada "We are building more affordable homes to address the housing crisis. The project at 25 Borough Drive will create 1,285 new homes for Torontonians, including studios, one-bedroom, two-bedroom and three-bedroom apartments and townhomes. The City of Toronto is proud to support this project through the Rental Housing Supply Program. We are stronger together, working with the Government of Canada to create more affordable homes in Scarborough to meet the needs of our growing city."" – Olivia Chow, Mayor of Toronto "Oxford is a high-conviction investor in the living sector, and we're proud to leverage our strong development expertise in Canada to help address our nation's housing crisis. The ACLP loan allows us to accelerate our plan to intensify the lands at our Brimley site to deliver much-needed housing solutions in Scarborough. Our partnership with CMHC is a tremendous example of how a public-private solution can drive transformative, meaningful impact for communities." – Daniel Fournier, Executive Chair at Oxford Properties Quick Facts: The National Housing Strategy (NHS) is a 10+ year, $115+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives are updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. The Housing and Infrastructure Project Map shows affordable housing projects that have been developed. As of March 2025, the federal government has committed $65.84 billion to support the creation of over 166,000 units and the repair of over 322,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence NHS is built on strong partnerships between the federal, provincial, and territorial governments, and continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private housing sectors. This includes consultations with Canadians from all walks of life, and people with lived experience of housing need. All NHS investments delivered by the federal, provincial, and territorial governments will respect the key principles of NHS that support partnerships, people, and communities The $55 billion Apartment Loan Construction Program (ACLP) is providing low-cost financing to support more than 131,000 new rental homes across Canada by 2031 – 2032. The ACLP provides fully repayable low-interest loans to encourage the construction of more rentals for middle-class Canadians. It creates a positive impact to the housing system at minimal cost to taxpayers. A stable supply of purpose-built rental housing is essential for more people in Canada to have access to housing that meets their needs. As of March 2025, CMHC has committed $23.35 billion in loans through ACLP to support the creation of more than 59,000 rental homes. It is one of many programs and initiatives under the National Housing Strategy designed to help address housing needs across the housing continuum. It complements other NHS initiatives that focus on funding affordable housing units for lower-income households. Budget 2024 announced enhancements to the ACLP which includes the program being extended from 2027 – 2028 to 2031 – 2032. The enhancements will allow applicants to apply for funding for on- and off-campus student housing to support post-secondary educational institutions as well as independent seniors housing. There are no longer minimum requirements relating to energy efficiency and accessibility, instead applicants will benefit from making stronger commitments to desired rental supply and social outcomes. Funding provided for 25 Borough Drive is as follows: $650 million in fully repayable loans from the federal government, through the Apartment Construction Loan Program $2.5 million from City of Toronto's Rental Housing Supply Program Additional Information: Visit for the most-requested Government of Canada housing information. CMHC plays a critical role as a national facilitator to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to homeownership and the creation and maintenance of rental supply. We also actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Follow us on X, YouTube, LinkedIn, Facebook and Instagram.
Cision Canada
26-06-2025
- Business
- Cision Canada
The federal government invests to build and renovate more homes for seniors in Coquitlam Français
COQUITLAM, BC, June 26, 2025 /CNW/ - Solving Canada's housing crisis requires immediate action to bring down costs. To provide Canadians with increased access to affordable and sustainable housing, the government today announced an investment of $24.6 million for transformative energy retrofits of 134 units and the construction of 18 new infill units for seniors in Coquitlam. The announcement took place at L.J. Christmas Apartments at 560 Austin Avenue in Coquitlam and was made by Jake Sawatzky, Member of Parliament for New Westminster—Burnaby—Maillardville, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, alongside Bill Cox, Vice-President Burquitlam Senior Housing Society and Rupert Campbell, Principal Montage Development Consultants. With funding and support from the federal government, the Burquitlam Senior Housing Society will add 18 accessible units to the building, as well as completing deep energy retrofits to all units. The retrofits include new double-glazed windows in all units and common areas, installation of heat pumps to provide heating and cooling for residents, low flow water systems for water conservation, which will result in an overall reduction in GHG emissions of 95 percent and improve energy efficiency by 60 percent. As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working hand-in-hand with the non-profit sector to bring down costs and build homes at a scale and speed not seen since the Second World War. Quotes: "These new homes and renovations are a step in the right direction for seniors living in Coquitlam. Working with the Burquitlam Senior Housing Society allows us to get closer to our goal of providing more affordable housing for Canadians. Ensuring that people have a secure and stable home to age in place helps to build a strong community for everyone." – Jake Sawatzky, Member of Parliament for New Westminster—Burnaby—Maillardville, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada "On behalf of the Burquitlam Senior Housing Society & the Management of L.J. Christmas Apartments, I would like to state that we are humbled to receive this incredible funding to add 18 additional apartments and the energy efficiency renovations. This will help to ensure L J Christmas Apartments will be here to provide viable, affordable housing for seniors for decades to come. Adding improvements including heat pumps, in suite temperature controls, and double-glazed windows will substantially improve our tenant's comfort and well being. We would like to extend a very special Thank you to CMHC." – Bill Cox, Vice President, Burquitlam Senior Housing Society " Working with CMHC, the Burquitlam Senior Housing Society, the City of Coquitlam, and the project team to deliver this transformative project has been the highlight of this last year – achieving outcomes together that nobody thought were possible. CGAH is an incredible funding program for revitalizing aging nonprofit buildings; eliminating carbon emissions, improving qualify of life and climate resiliency, and extending the lifespans of these buildings to another generation of Canadians in need. We could not be more proud to work on this project and hope to bring forward many more." – Rupert Campbell, Principal, Montage Development Consultants Quick facts: The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partner organizations for new affordable housing and the renovation and repair of existing affordable and community housing. The AHF is a $14.6-billion National Housing Strategy program that prioritizes housing projects for those who need it most: women and children fleeing family violence, seniors, Indigenous people, people living with disabilities, those with mental health or addiction issues, veterans and young adults. As of March 2025, the federal government had committed $11.99 billion to support the creation of close to 46,000 units and the repair of over 174,000 units through the AHF. The existing New Construction stream is now subdivided into two dedicated sub-streams: a Rapid Housing sub-stream to create shelters, supportive and transitional housing for those in greatest need, and a Community Housing sub-stream to support affordable and mixed-market housing where there are both affordable and market-rent units in a project. The Repair and Renewal stream, has replaced minimum requirements with an approach where projects supporting accessibility and energy efficiency will be prioritized. Greener Affordable Housing (CGAH) is providing $1.2 billion to make multi-unit rental housing serving low- and moderate-income households more energy efficient and environmentally friendly. CGAH is a financing program to help community housing providers complete deep energy retrofits on their multi-unit residential buildings, improving their quality and adapting homes to the effects of climate change and extreme weather events leading to deep reductions in energy consumption and greenhouse gas (GHG) emissions. CGAH provides contributions for pre-retrofit activities needed to plan, prepare, and apply for retrofit funding as well as forgivable and low-interest loans to help finance building retrofits and activities needed to meet climate objectives. L.J. Christmas Apartments is a non-profit building for independent seniors who are over 60 years of age. Centrally located near Lougheed Mall, L.J. Christmas Apartments is near public transportation, grocery stores, banks, restaurants, medical clinics, seniors' recreation facilities and other amenities. All apartments are rented at affordable rates for seniors on limited incomes, with priority given to residents of Coquitlam. Rents include heat, hot water, electricity and basic cable. Construction is expected to be complete in early 2027. Funding provided for this housing project is as follows: $24.6 million from the federal government, including $21.8 million in Canada Greener Affordable Housing (CGAH) retrofit funding, $130,000 in pre-retrofit funding through CGAH, and $2.7 million through the Affordable Housing Fund (AHF). $255,000 from the Burquitlam Senior Housing Society in cash equity $80,000 from Vancity $30,000 from Federation of Canadian Municipalities (FCM) for feasibility costs Additional information: Visit for the most-requested Government of Canada housing information. CMHC plays a critical role as a national facilitator to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to homeownership and the creation and maintenance of rental supply. We also actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Follow us on X (formerly Twitter), YouTube, LinkedIn, Facebook and Instagram. Progress on programs and initiatives is updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. The Housing and Infrastructure Project Map shows the affordable housing projects developed so far. Since 1971 L.J. Christmas Apartments has provided housing to seniors in Coquitlam. SOURCE Canada Mortgage and Housing Corporation (CMHC)
Cision Canada
26-05-2025
- Business
- Cision Canada
Government of Canada invests in B.C. tech sector as Canada welcomes the world to Vancouver
On the eve of Web Summit Vancouver, PacifiCan investments showcase Canadian innovation and help position B.C. tech companies for global growth VANCOUVER, BC, May 26, 2025 /CNW/ - British Columbia is driving Canada's innovation economy as one of the nation's fastest-growing tech powerhouses. With over 12,000 companies employing more than 182,000 highly skilled workers, B.C.'s tech sector punches well above its weight. PacifiCan is fueling B.C.'s dynamic tech ecosystem by championing homegrown innovation and advancing solutions that tackle real-world challenges. In 2023, PacifiCan announced a $9.9 million investment through Innovate BC to launch the Integrated Marketplace, which helps local companies test technologies in real-world environments. Over the past two years, this investment – alongside support provided by the Province of B.C. – has powered over 30 projects that drive innovation, AI adoption, and economic growth across British Columbia. Today, the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada (PacifiCan), announced a new investment in the Integrated Marketplace of over $1.8 million to integrate AI innovation into two projects at local testbeds: At Vancouver International Airport, the investment will support the next phase of a project testing self-driving robotic pods designed to help travelers with mobility challenges move around the airport more easily. At the Provincial Health Services Authority, the funding will advance a project that uses AI to analyze digital images of tissue, facilitating the detection and identification of diseases through the digitization of pathology and other cancer diagnosis processes. This is the first investment announced through PacifiCan's Regional Artificial Intelligence Initiative. PacifiCan funding for the Integrated Marketplace is helping innovative businesses bring new technologies to market. It is also reducing the risk of adopting made-in-B.C. technologies while keeping intellectual property, talent, and economic benefits in Canada. This announcement comes as B.C. gets ready to host Web Summit Vancouver – the leading global technology conference that is putting a spotlight on Canada's vibrant innovation scene. PacifiCan is investing $6.6 million for Destination Vancouver to host Web Summit in Vancouver for the next three years. This event will provide a launch pad for local innovators, attract international investors and talent, and further strengthen B.C.'s reputation as a leading hub for technology and entrepreneurship. Quotes "British Columbia's tech sector is a powerhouse, driving prosperity not only across the province, but across Canada. Together, we are creating one Canadian economy and positioning Canada at the forefront of tech nations." -The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada " Using AI to drive and accelerate productivity through robust investments in innovative companies is critical in this moment of crisis. With this investment, PacifiCan is unlocking the growth and security we need for the future of Canada, powering AI for scale, efficiency, and sovereignty. Bold and smart investments like this are required as we build a more resilient and competitive nation to meet this moment of urgency." -The Honourable Evan Solomon, Minister of Artificial Intelligence and Digital Innovation and Minister responsible for the Federal Economic Development Agency for Southern Ontario "B.C. is home to a strong and collaborative technology ecosystem that is developing made-in-B.C. solutions to global challenges while creating good jobs and opportunities for people across the province. I'm excited to see more funding for the Integrated Marketplace through PacifiCan, and I look forward to seeing the innovative projects that will emerge from this and future investments to strengthen and diversify B.C.'s economy." -The Honourable Diana Gibson, Minister of Jobs, Economic Development and Innovation, Province of B.C. "The Integrated Marketplace is a powerful example of how we can accelerate innovation, like AI technologies, and economic growth at the same time, and with this additional funding from PacifiCan we are enhancing two high-impact projects working to improve critical services for British Columbians and customers worldwide. By connecting B.C. companies with real-world adoption opportunities, we're helping them prove and refine their technologies while also delivering transformative solutions for some of our most important industries. This model not only strengthens our provincial economy but also creates a launchpad for these companies to access new markets and scale globally." -Peter Cowan, President and CEO of Innovate BC Quick Facts In May 2025, the Prime Minister of Canada's mandate letter for Ministry members highlighted AI as a key driver for economic growth, job creation, and government innovation to keep Canada competitive in a changing world. Vancouver is home to Canada's fastest-growing life sciences sector, the world's second-largest virtual and augmented reality cluster, and ranks first in North America for high-tech job growth. The Regional Artificial Intelligence Initiative helps B.C. businesses bring new AI technologies to market and speed up AI adoption across the country. In October 2023, PacifiCan invested $9.9 million in Innovate BC to launch and expand the Integrated Marketplace. This initiative is also supported by the Government of B.C. through the Ministry of Jobs, Economic Development and Innovation. In June 2024, PacifiCan invested $6.6 million in Destination Vancouver to host Web Summit in Vancouver over three years starting in May 2025. Over the past 10 years, PacifiCan and its predecessor, Western Economic Diversification Canada (WD), invested over $271 million directly in tech companies and $110 million in not-for-profit organizations that support the sector as a whole. Associated Links Stay connected Follow PacifiCan on X and LinkedIn Toll-Free Number: 1-888-338-9378 TTY (telecommunications device for the hearing impaired): 1-877-303-3388 SOURCE Pacific Economic Development Canada
