The federal government aims to alleviate housing affordability issues by utilizing underused properties owned by Canada Post and National Defence. With a goal of adding 3.87 million new homes by 2031, initiatives include freeing up land, extending amortization periods for first-time buyers, and cracking down on speculation.
Canada Post’s 1,700 post offices and National Defence’s 622 properties are targeted for housing development. The government is evaluating six Canada Post properties in Quebec, two in B.C., and one in Alberta, while identifying 33 additional areas for potential development. A $5 million overhaul of Canada Lands Co., the Crown corporation that manages federal properties, is proposed to streamline land transfers.
The government seeks to ensure housing costs don’t exceed 30% of income, addressing soaring home prices and rental rates. To boost supply, Canada Builds will leverage $55 billion for rental housing, emphasizing partnerships with provinces, shorter approval times, and childcare access.
