Canada announces the construction of 120 homes in Saskatoon

SASKATOON, SK, Nov. 12, 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 plan is building – major infrastructure, millions more homes, and strong communities. To that end, the Government of Canada launched Build Canada Homes which will help double the pace of homebuilding over the next decade to increase housing supply, alongside other measures. It will also transform public-private collaboration and deploy modern methods of construction, as it catalyses the creation of an entirely new Canadian housing industry. This new federal agency will build affordable housing at scale, including transitional and supportive housing, deeply affordable and community housing, and affordable homes for the Canadian middle class.  

As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working together with the private and non-profit sector to bring down costs and build homes at a scale and pace not seen in generations. These investments are also providing Canadians with increased access to affordable and sustainable housing.  

Solving Canada's housing crisis requires immediate action to bring down costs, cut red tape, and build homes more quickly. 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 Apartment Construction Loan Program (ACLP) provides fully repayable low-interest loans to catalyse the construction of more rental units for middle-class Canadians. Today, the federal government announced $38.3 million in funding to help build 120 homes in a stacked townhome development known as Aurora Pointe.

Located at 102 Henry Dayday Road in the Aspen Ridge neighbourhood of Saskatoon, these new homes will be family oriented with two or three-bedrooms. The project is being developed by the National Affordable Housing Corporation (NAHC), a non-profit organization with a mission to build affordable homes across Saskatchewan.  

The announcement was made by the Honourable Buckley Belanger, Secretary of State (Rural Development) and Member of Parliament for Desnethé—Missinippi—Churchill River, alongside Tyler Mathies, CEO of NAHC, and Toni Klassen, Executive Director of the Canadian Mental Health Association – Saskatoon.

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:

"The federal government's historic investment in affordable housing, here in Saskatoon and right across our province, is about more than just building homes — it's about building hope and opportunity. Together with our partners, we're building communities where families can live in comfort and security in homes they can afford. That's what building Canada strong is all about." – The Honourable Buckley Belanger, Secretary of State (Rural Development) and Member of Parliament for Desnethé—Missinippi—Churchill River

"We are incredibly grateful to have the federal government's support under the Apartment Construction Loan Program. With CMHC's support and the participation of key community partners such as the Canadian Mental Health Association – Saskatoon, housing programs like this make it possible for us to deliver the best affordable housing possible in Saskatoon. Quality housing, energy efficiency, and ongoing support and services are the cornerstones of our housing model; together we're not only adding homes to Saskatchewan communities, we're improving the quality of life individuals and families." – Tyler Mathies, CEO of the National Affordable Housing Corporation (NAHC)

"At the Canadian Mental Health Association Saskatoon, we know that safe and stable housing provides a foundation for mental wellness and recovery. When people have a place to call home, they gain the stability needed to focus on their health, build connections, and participate more fully in their communities. We are deeply grateful to the Government of Canada and the National Affordable Housing Corporation for their leadership and partnership in making this possible. Together, we are helping create not just homes, but hope, dignity, and a sense of belonging." – Toni Klassen, Executive Director, Canadian Mental Health Association – Saskatoon 

Quick Facts:

• The $55 billionApartment Construction Loan 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.
  • 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.
  • As of June 2025, CMHC has committed $24.9 billion in loans through ACLP to support the creation of more than 63,500 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.
• Funding provided for Aurora Pointe is as follows:
  • $38.3 million from the federal government, through the National Housing Strategy's Apartment Construction Loan Program

Additional Information:

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