Canada announces 612 homes in Toronto

TORONTO, ON, Nov. 28, 2025 /CNW/ - Changes in the global trading system are causing massive disruptions and uncertainty for Canadians. The world has changed, and Canada's economic strategy must change.

Budget 2025: Canada Strong is our plan to transform our economy from one that is reliant on a single trade partner to one that is stronger, more self-sufficient, and more resilient to global shocks. This budget is a plan to enable $1 trillion in investments over the next five years. This is a plan for Canada to give ourselves more than any foreign government can take away – a plan to build Canada strong.

Central to that work, the Government of Canada launched Build Canada Homes, which will help increase the pace of affordable homebuilding to increase housing supply. Build Canada Homes will also help fight homelessness by building transitional and supportive housing – working with provinces, territories, municipalities, and Indigenous communities. It will build deeply affordable and community housing for low-income households, and partner with private market developers to build affordable homes for the Canadian middle class.

As part of the Government of Canada's broader efforts to respond to the housing crisis, work is being done across the housing continuum to respond to the needs of communities across Canada. To that end the Co-operative Housing Development Program (CHDP) is the largest federal investment in new co-op housing development in more than 30 years, with $1.5 billion in funding.

Today, the federal government announced over $289 million in funding to help build 612 secure, rental co-op homes in Toronto.Kennedy Green Co-operative, located at 2444 Eglinton Avenue East, is Canada's largest co-op housing development in over 30 years and is ushering in a new era of co-ops. It will feature award-winning architecture, dedicated community spaces and a mix of retail offerings that will contribute to Scarborough's vibrant community. Transit-oriented by design, the site is steps away from Kennedy TTC Station and Go Station, will ensure seamless connectivity across the city and supporting sustainable, accessible urban living.

The announcement was made by Salma Zahid, Member of Parliament for Scarborough Centre—Don Valley East, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada alongside Olivia Chow, Mayor of Toronto, and Councillor Michael Thompson, Scarborough Centre.

The past year has revealed there are limits to Canada's economic independence. Budget 2025 is tackling that challenge head on. It is our plan to take control and build the future we want for ourselves. It is our plan to build Canada Strong.

Quotes:

"Our Government is focused in delivering housing for the people of Toronto and across the country. Supporting Kennedy green Co-op is one of the ways we do that. I'm proud of our involvement in this project, and of the tangible difference it will make for people in this community." – The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada 

"Our Government is proud to support this initiative, part of our ongoing efforts to build strong, affordable communities across the country. The Kennedy Green Co-op will make a real impact on lives for our community here in Scarborough, and it's another step forward in our bold, ambitious plan to build Canada strong." – Salma Zahid, Member of Parliament for Scarborough Centre—Don Valley East 

"The City of Toronto is breaking ground on Kennedy Green, the largest co-operative housing development in Ontario and one of the largest in Canada. This project will deliver 612 new homes in Scarborough, affordable and market rent-controlled co-op units. By working closely with key partners, leveraging City-owned land, and investing over $35 million, we approved this project in record-breaking time and are delivering a more caring and affordable city for Torontonians."– Olivia Chow, Mayor of Toronto

"Kennedy Green at 2444 Eglinton sets a new standard for co-op housing in Canada. After 50 years of supporting the co-op movement in Toronto, we've built on our experience and delivered world-class and award-winning design to set the stage for a renaissance of co-op housing. With this new momentum, CHFT is focused on making co-ops a well-known and available type of housing for a new generation." – Tom Clement, Executive Director, Co-operative Housing Federation of Toronto (CHFT)

Quick Facts:

• The Co-operative Housing Development Program (CHDP) is the largest federal investment in new co-op housing development in more than 30 years, with $1.5 billion in funding. The program supports the creation of co-op homes that are more affordable than private market rentals, providing options for middle-income households.
  • The program was co-designed with the Co-operative Housing Federation of Canada and the co-op housing sector to ensure it addresses the sector's unique needs, including capacity-building support for applicants.
• Funding provided for 2444 Eglinton Street is as follows:
  • Over $289 million from the federal government, through Co-operative Housing Development Program
  • More than $35 million from the City of Toronto

Additional Information:

• Visit canada.ca/housing for the most-requested Government of Canada housing information. 
• Learn more about Build Canada Homes.
• 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. 

SOURCE Canada Mortgage and Housing Corporation (CMHC)