OTTAWA — Prime Minister Mark Carney announced a new agency aimed at enhancing home construction in Canada, just a day before the House of Commons begins its fall session. The agency, named Build Canada Homes (BCH), will be led by former Toronto city councillor Ana Bailao. Carney described the initiative as a way to "supercharge" home construction and create a more efficient homebuilding industry.

During the announcement on Sunday, held in front of a modular home in suburban Ottawa, Carney emphasized the need for collaboration to tackle the ongoing housing crisis. He stated, "Our private sector, our provinces and territories, municipalities, non-profits and Indigenous partners all working together to speed-up and scale-up homebuilding to build affordable housing that all Canadians deserve."

The BCH is designed to facilitate the construction of affordable homes on a large scale. It aims to modernize and enhance the productivity of the homebuilding sector while providing financing options for affordable housing projects. Carney noted that the agency will also address homelessness by collaborating with provinces and territories to create transitional housing and expand affordable options for low-income families.

"Build Canada Homes will offer flexible financial incentives, approve large portfolio projects and quickly leverage public lands for housing, so projects are de-risked, approvals are green-lit, and builders can do what they do best, which is to build," Carney explained.

Bailao, who recently finished a close second in the 2023 Toronto mayoral byelection, confirmed that her new role will remove her from consideration for the upcoming mayoral race. She has extensive experience in overseeing affordable and community housing during her time on the Toronto council.

Carney expressed optimism about the agency's potential impact, stating, "This, along with a series of other new measures, will help double the pace of housing construction in this country over the next decade." The housing crisis in Canada has worsened since Carney took office six months ago, with housing starts in the Greater Toronto Area reaching their lowest levels in 30 years.