Photo: Jeff McIntosh The Canadian Press Justin Trudeau announced $500 million in low-cost loans in Calgary on Friday for projects using “innovative” construction techniques, including from prefabricated and modular housing manufacturers.
The Canadian Press in Ottawa
4:00 p.m.
- Canada
The federal Liberal government is planning a $600 million loan and financing package to make housing construction easier and less expensive for homeowners and renters.
Prime Minister Justin Trudeau announced the new measure Friday in Calgary — the latest in a series of pre-budget announcements aimed at winning over young voters.
Mr. Trudeau specified that $50 million will be dedicated to a fund for technology and innovation in residential construction, and an additional $50 million will be aimed at modernizing and accelerating construction, through federal regional development agencies.
An additional $500 million in low-cost loans will support projects using “innovative” construction techniques from prefabricated and modular housing manufacturers and other builders.
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Finance Minister Chrystia Freeland will table the next federal budget on April 16.
Thursday in Winnipeg, Justin Trudeau announced a new $1.5 billion fund to help non-profit organizations acquire more affordable rental housing. This fund will offer 1 billion in loans and 470 million in contributions to various partners so that they can acquire housing and maintain rental prices in the long term.