Building more homes in Toronto Français
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:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Sun
2 hours ago
- Toronto Sun
Canada weighs retaliation cost against Trump tariffs as analysts warn hitting back isn't worth it
Published Aug 02, 2025 • Last updated 10 minutes ago • 4 minute read Tractor trailers entering the U.S. from Canada at the Pacific Highway Border Crossing in Blaine, Washington, on Monday, March 3, 2025. Photo by David Ryder / Bloomberg Canada's decision to retaliate against U.S. tariffs earlier this year appears to be driving a divergence in how President Donald Trump is dealing with America's neighbours. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Until this week, Canada and Mexico received similar treatment in White House trade actions. Each was subject to a 25% base tariff, with a large exemption for goods shipped under the North American free trade pact known as CUSMA (or USMCA). That changed on Thursday, when Trump granted Mexico a 90-day pause on tariff hikes while jacking up its tax on Canadian products to 35%. The administration said Canada's higher rate was a response to fentanyl trafficking and its moves to hit back with counter-tariffs. The situation leaves Prime Minister Mark Carney with a political dilemma. On one hand, he won an election by promising a muscular approach to the trade war, saying the government would use tariffs to cause 'maximum pain' in the US. His voters remember that, and some want him to punch back. This advertisement has not loaded yet, but your article continues below. Yet the retaliatory measures already undertaken failed to prevent further escalations. Instead, they appear to have emboldened Trump's team to hit even harder. U.S. administration officials including Commerce Secretary Howard Lutnick frequently talk about how only two countries retaliated against Trump's tariffs — the other was China. 'Canada's retaliatory trade measures against the United States further complicate bilateral efforts to address this escalating drug crisis,' the White House said in a fact sheet, referencing fentanyl. But Mexico is a much larger source of shipments of the drug into the U.S., according to Customs and Border Protection data. Carney, an economist and former central banker, has also made it plain he believes retaliation can only go so far. In fact, his government has watered down Canada's counter-tariffs with a number of exemptions, declined to increase them when the U.S. lifted steel and aluminum tariffs to 50% and scrapped a tax on technology services at Trump's request. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Dominic LeBlanc, the minister in charge of trade talks, told Radio-Canada on Friday the government hasn't made any decisions about further retaliation. But Carney is clearly reluctant to do so — which 'reflects the reality that counter-tariffs are understood to be economically harmful to the country which imposes them,' said David Collins, a professor specializing in international trade at City St George's, University of London. The government's priority is to keep the CUSMA carve-out that dramatically lowers the real tax on Canadian goods. The effective U.S. tariff rate on Canada is about 6.3%, according to Bank of Nova Scotia economists. 'A more diplomatic approach is likely to bear more fruit with the Americans,' Collins said. This advertisement has not loaded yet, but your article continues below. Canada imposed two rounds of counter-tariffs in March, when Justin Trudeau was in his final days as prime minister. The first placed 25% levies on about $30 billion of imports from the U.S. that included food items, clothing and motorcycles. The second came when Trump put tariffs on steel and aluminum. Then, when Trump added tariffs to foreign automobiles, Carney essentially matched that move, imposing similar fees on U.S. cars and trucks. But in mid-April, the government unveiled a series of exemptions for business inputs — goods imported for use in manufacturing and food packaging, as well as things needed for health care, public safety and security. Automakers such as General Motors Co. and Honda Motor Co. that make vehicles at Canadian plants were also made eligible for relief from import taxes. This advertisement has not loaded yet, but your article continues below. The large majority of U.S. products can still enter Canada tariff-free. U.S. companies and other entities exported about $440 billion of goods and services to Canada last year — more than to any other nation. For Canada, 'the logic for escalation over cooperation is just weak,' said Oliver Lavelle, global macro strategist at Thiel Macro LLC. Mexico's Way Mexican President Claudia Sheinbaum, in contrast, has never imposed counter-tariffs on the U.S. Sheinbaum's position is also supported by her high approval ratings, which have remained above 75% in most polls. 'It's worth saying: President Trump treats us with respect in all the calls we've had, and we do too,' she said during a new conference. 'We may not agree, but the treatment is respectful.' This advertisement has not loaded yet, but your article continues below. A statement issued late Thursday night by Carney's office expressed disappointment in Trump's tariff hike on Canada, but made no mention of retaliation. A spokesperson for Carney declined to comment further. LeBlanc said he met with Lutnick on Tuesday night, and that Canadian officials held other meetings throughout the week, but a deal acceptable to both sides 'was not yet visible.' In his statement, Carney acknowledged that lumber, steel, aluminum and autos are still subject to U.S. levies, and said his government 'will act to protect Canadian jobs, invest in our industrial competitiveness, buy Canadian, and diversify its export markets.' 'Jitters' But while the CUSMA exemption gives Canada some breathing room, the sectoral tariffs on steel and aluminum are still harmful and will affect economic growth if they're in place for long, Collins said. This advertisement has not loaded yet, but your article continues below. Avery Shenfeld, chief economist at Canadian Imperial Bank of Commerce, said the idea that Canada is getting off lightly is 'both overstated and potentially premature.' Canadian industries are more reliant on U.S. exports than their overseas competitors, and Trump could also chose to weaken the CUSMA exemption at any time, he said in a note to investors. 'We are still hopeful for a deal that relieves at least some of the pressure on base metal exporters,' Shenfeld said. 'But whether any of this lasts will depend on Trump's word, and we've seen how shaky that foundation can be, leaving jitters that could impact business capital spending and confidence ahead.' —With assistance from Mario Baker Ramirez and Carolina Millan. Read More Toronto Blue Jays Columnists Columnists Toronto & GTA Canada
Toronto Star
6 hours ago
- Toronto Star
An open letter to Prime Minister Carney from Canada's $7B cannabis industry
Despite our progress, writes Paul McCarthy, significant barriers still prevent the Canada's massive cannabis industry from reaching its full potential — barriers we urge Ottawa to address as part of building One Canadian economy. Jeff McIntosh / The Canadian Press file photo flag wire: false flag sponsored: false article_type: Opinion : sWebsitePrimaryPublication : publications/toronto_star bHasMigratedAvatar : false : Paul McCarthy is the president and CEO of the Cannabis Council of Canada. This letter is endorsed by more than 50 CEOs across Canada's legal cannabis sector. Full list of signatories available at Opinion articles are based on the author's interpretations and judgments of facts, data and events. More details
Global News
7 hours ago
- Global News
Canada's housing market is in ‘new normal.' It looks like the ‘old normal'
With the Bank of Canada holding interest rates again, economists and real estate experts say the housing market's 'new normal' may be looking more and more like the 'old normal' from before the COVID-19 pandemic. 'What we have now with more supply in the market, like more inventory, homes for sale, and this is what I would consider a little bit more — not everywhere in Canada — but generally speaking more return to the old normal before the pandemic,' said Robert Hogue, assistant chief economist at RBC. 'Actually, probably a lot more before the pandemic with a bit more time for buyers to make decisions.' Much of the original hesitation from buyers waiting to enter the market in early 2025 was due to the uncertainty of looming and implemented tariffs by the U.S., Hogue said. Story continues below advertisement He added in the months since, the perspectives of Canadians have changed and the lack of 'doom and gloom' is bringing back some homebuyers. National home sales rose 2.8 per cent in June, building on a 3.5-per cent rise in May, the Canadian Real Estate Association (CREA) said earlier this month. However, the CREA's senior economist, Shaun Cathcart, cautioned while homes sales saw a boost — including a 17.3-per cent rebound in the Greater Toronto Area since April — the national picture is a 'carbon copy' from May sales figures. 2:39 Peterborough housing market shows slow spring Hogue notes that positivity and growing confidence will benefit the housing market in the long-term, especially as RBC does not expect any further rate cuts. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy There are still some challenges, such as continued U.S. uncertainty, but he said some energy is returning. Story continues below advertisement 'What we've seen in recent months is a return to that recovery is still very kind of gentle, just more of a turning point taking place,' he said. 'Barring any major bad news on the trade front that would send more kind of ice cold water on expectations and confidence, we should see that recovery going forward.' Some mortgage brokers in Canada say despite concerns over U.S. tariffs and the economy, they're still seeing people entering the market. 'Every mortgage broker that I speak to is busy right now because house prices are high, interest rates aren't great but people are still buying,' said Hannah Martens, mortgage broker and president of the Canadian Mortgage Brokers Association Atlantic. 'I really do feel that even though we aren't in a perfect market right now, and I don't think there will ever be a perfect market, people, if they're ready, then should come into the market whenever they're ready.' Affordability remains a 'psychological' block Even with Canadians trying to buy their first or a new home, there are still barriers and affordability may be a key factor. Story continues below advertisement 'We still have affordability issues, but I think even for those who have the ability to purchase right now, they're not. We need them to pull the trigger,' said Mary Sialtsis, a licensed mortgage broker in Ontario. 'Maybe it does take the Bank of Canada to start dropping the prime lending rate because it is that psychological impact, because I do have buyer clients out there actively shopping right now, but they're not actually pulling the trigger and making an offer.' Sialtsis said what may be needed even more is an adjustment of expectations. 'I know that some of the buyers that are out there shopping are just thinking, 'Well, you know, I'll wait until I can get a better deal,' and it starts to become unreasonable,' she said. 1:01 Throne speech: King Charles says Liberals will work to make Canada's housing market 'work better' 'For sellers, I really think they need to adjust their expectations and they need to, I'm sure their realtors are advising them of what comparable sales are in their neighbourhood, they need to adjust their expectations accordingly.' Story continues below advertisement Canadians hoping for low mortgage rates seen during the COVID-19 pandemic may be out of luck, but Royal LePage's Anne-Elise C. Allegritti said some people appear to be realizing this. 'I think Canadians have adapted to this sort of, being roughly the new normal in terms of borrowing rates. Could they go down a little bit more, sure, but I don't think anyone is expecting them to reach those rock-bottom rates that we saw during COVID and that's a good thing,' said Allegritti, director of research and communications at Royal LePage. 'I think sometimes our perspective can be skewed because of this extreme that we experienced not too long ago and this feels now like the opposite extreme, but it really is a leveling off.'
