A Liberal plan to drive housing construction
Liberal Leader Mark Carney announced if elected prime minister his government would get back in the business of building homes to ‘double the pace’ of construction to half-a-million new builds per year.
Carney, speaking from Vaughan, Ont., announced a housing plan to double Canada’s current rate of residential construction to 500,000 homes per year.
A Liberal government would create a public organization called Build Canada Homes that partners with the private sector to develop affordable housing, according to Carney.
The organization’s mission, as he described it, is to build affordable housing on public lands, stimulate a new housing industry and give $10 billion in financing to builders focused on affordable housing.
“We can build things in this country again,” the Liberal leader said.
Build Canada Homes, or BCH, would also give $25 billion in debt financing and $1 billion in equity financing to prefabricated home builders, added Carney. These are houses that are constructed in modular pieces at a factory and then assembled wherever the home will be.
The plan would also introduce a new tax incentive to spur rental housing across the country, and cut municipal development charges for certain builds, he said.
