CBC·3 min read·medium
Carney pledges $2.7B for new affordable housing measures in Toronto
✦AI Summary
The Canadian government and the City of Toronto have announced a $2.7 billion partnership to build 5,600 new rental homes. The initiative aims to address the housing crisis by focusing on affordable and rent-controlled units.
The partnership between the government of Canada and city of Toronto includes 5,600 rental homes, 1,800 of which will be "deeply affordable," supportive or rent-controlled, Carney said at a news conference Wednesday. He said 4,500 new homes — 80 per cent of the total — will be under construction by year's end.
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