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28. Relationship between Housing, Infrastructure and Communities Canada, Build Canada Homes and the Canada Mortgage and Housing Corporation
29. Canada Infrastructure Bank Mandate and Value
30. Canada Lands Company Limited
31. Canada Mortgage and Housing Corporation Compensation and Operations
32. Build Canada Homes Chief Executive Officer Remuneration
33. Canada Infrastructure Bank Involvement in Housing and Retrofits

Relationship between Housing, Infrastructure and Communities Canada, Build Canada Homes and the Canada Mortgage and Housing Corporation

Issue / question

How is the Government of Canada coordinating its efforts across departments and agencies to address the housing crisis and increase affordable housing supply?

Suggested response

• This government is taking coordinated action to address the housing crisis.
• Housing, Infrastructure and Communities Canada is the federal lead for housing and homelessness policy and program development, ensuring alignment across all programs and portfolio partners.
• Build Canada Homes is Canada’s new federal agency that will build and finance affordable housing at scale, while catalyzing a more productive homebuilding industry by generating demand for new and innovative building methods.
• In parallel, Canada Mortgage and Housing Corporation will continue to contribute to the well-being of Canada’s housing system through existing programs such as the Apartment Construction Loan Program and mortgage loan insurance products.

Background

• Housing, Infrastructure and Communities Canada (HICC) is the federal lead for housing and homelessness policy and program development, ensuring alignment across programs and portfolio partners.
• On September 14, 2025, Build Canada Homes launched as a Special Operating Agency within HICC. Build Canada Homes is Canada’s new federal agency that will build and finance affordable housing at scale, while catalyzing a more productive homebuilding industry.
• Canada Mortgage and Housing Corporation (CMHC) will continue to deliver on its mandate to contribute to the well-being of Canada’s housing system through existing initiatives such as the Apartment Construction Loan Program and mortgage loan insurance products.
• CMHC will also continue delivering its existing affordable housing programs, such as the Affordable Housing Fund (AHF), until current funding envelopes are fully allocated.
  • Proponents with existing AHF projects or recently submitted proposals will continue to work with their contact at CMHC as Build Canada Homes ramps up. Both organizations will work closely to ensure that all proposals to increase the supply of affordable housing are considered.
  • In combination with the recent $1.5 billion top-up to the AHF, this will ensure ongoing funding for new affordable housing during the transition to Build Canada Homes.
• Finally, CMHC will continue to support Canada’s market housing sector by providing valuable market insights and industry research.
• Ministerial responsibility for Canada Lands Company has been transferred to the Minister of Housing and Infrastructure.
• This move enables Build Canada Homes to leverage Canada Lands Company’s land holdings, real estate development expertise, and strong relationships with municipalities, builders, not-for-profits, and Indigenous communities to accelerate the delivery of affordable housing across the country.
• Build Canada Homes will have access to the federal government’s land portfolio, including 88 federal properties suitable for housing listed on the Canada Public Land Bank.

Canada Infrastructure Bank Mandate and Value

Issue / question

How is the Canada Infrastructure Bank delivering value for Canadians?

Suggested response

• This government is committed to making bold investments in nation-building infrastructure on a scale not seen in generations.
• The Canada Infrastructure Bank (CIB) supports projects that help meet Canadians’ urgent needs in trade, housing, clean energy and northern infrastructure. Investing in revenue-generating projects and attracting private capital will ensure the CIB remains a vital driver of Canada’s future prosperity.
• The CIB supports complex projects by working with all orders of government, Indigenous communities and private sector partners.
• So far, the CIB has deployed $16.8 billion in capital in 102 projects with a total capital cost of $49.7 billion.

Background

• The Canada Infrastructure Bank (CIB) was established in 2017 to work with stakeholders across Canada to attract investment from private and institutional investors in revenue-generating infrastructure projects that are in the public interest, such as those that support economic growth, trade, and Canada’s housing supply.
  • It has received statutory funding of $35 billion, with a net fiscal expense of $15 billion to support innovative approaches to infrastructure funding, for instance by offering below market rates or subordinated terms, and to cover the Bank’s operating costs.
  • It uses financial instruments including loans, equity, and, where appropriate, loan guarantees to deliver federal support to projects in the public interest to make them commercially viable and crowd-in private investment.
• At present, the CIB has been investing in five priority sectors with the following targets: Public Transit ($5 billion), Green Infrastructure ($10 billion), Trade and Transportation ($5 billion), Broadband ($3 billion), and Clean Power ($10 billion). Across these priority sectors, the CIB has invested $1.1 billion as of March 31, 2025, in projects in partnership with and for the benefit of Indigenous communities, surpassing the original target of $1 billion set by the Government of Canada.
• The Bank is also investing in cross-cutting initiatives to support enabling infrastructure for housing (e.g., water and wastewater) and critical minerals.
• The CIB also plays an important advisory role. It helps build capacity and structure complex projects to support all levels of government in Canada in advancing their goals, particularly around projects that are bankable, and appropriate for attracting private investment and risk transfer.
• As of June 30, 2025:
  • 102 investments have reached financial close, which include seven completed projects, and 71 in active construction;
  • CIB’s investments of $16.8 billion have attracted more than $22.1 billion in private and institutional capital; and
  • CIB’s investments are in projects with a total capital cost of $49.7 billion.

Canada Lands Company Limited

Issue / question

How will Canada Lands Company Limited support the Build Canada Homes mandate?

Suggested response

• Build Canada Homes will leverage Canada Lands Company Limited’s (CLCL) land holdings and proven development expertise to accelerate affordable housing delivery across the country.
• As Build Canada Homes develops public land, it will prioritize innovative, factory-built housing and modern methods of construction to deliver homes faster and at lower costs.
• As a first step, Build Canada Homes will prioritize six projects on CLCL’s properties in Dartmouth, Longueuil, Ottawa, Toronto, Winnipeg, and Edmonton.
• These six projects aim to deliver 4,000 factory-built homes through a direct-build approach, with a focus on creating affordable housing in mixed-income communities.

Background

• Canada Lands Company Limited (CLCL) is a self-financing federal Crown corporation specializing in real estate development and attractions management. It has a dual mandate: to develop Government of Canada surplus properties and to serve as custodian of iconic attractions such as the CN Tower and Downsview Park in Toronto, as well as the Montréal Science Centre and Old Port of Montréal. Since 1995, CLCL has transformed former federal properties into sustainable, commercially viable communities.
• Build Canada Homes (BCH) is a new federal agency created to build affordable housing at scale. It will leverage public lands, offer flexible financial incentives, attract private capital, facilitate large portfolio projects, and support modern manufacturers. In 2026, BCH will evolve into a standalone federal entity reporting to the Minister of Housing and Infrastructure.
• On July 25, 2025, responsibility for CLCL was transferred to the Minister of Infrastructure and Communities through an Order in Council to support BCH by facilitating the transfer of federally owned lands for residential development. Leveraging CLCL’s land holdings and real estate expertise, BCH can accelerate the delivery of affordable housing across the country.
• CLCL has identified shovel-ready properties within its portfolio that can deliver affordable housing in the near term in support of BCH’s mandate.

Canada Mortgage and Housing Corporation Compensation and Operations

Issue / question

What are Canada Mortgage and Housing Corporation’s mandate, governance structure, and operating costs, including compensation?

Suggested response

• What are Canada Mortgage and Housing Corporation’s mandate, governance structure, and operating costs, including compensation?
• CMHC also delivers numerous federal housing programs and is a leader in housing market data, research and expertise, which is essential to address today’s housing challenges.
• CMHC is governed by a Board of Directors and reports to Parliament through the Minister of Housing and Infrastructure.
• Compensation for CMHC’s Chief Executive Officer is set by the Government of Canada as outlined in the Performance Management Program for Chief Executive Officers of Crown Corporations.

Background

• The National Housing Act (NHA) indicates that Canada Mortgage and Housing Corporation’s (CMHC) role is to promote the construction of new houses, the repair and modernization of existing houses, and the improvement of housing and living conditions; and to conduct research to study, report and provide recommendations on housing conditions and housing construction in Canada.
• CMHC also has a mandate, in relation to financing for housing, to promote housing affordability and choice, facilitate access to and competition and efficiency in the provision of housing finance, protect the availability of adequate housing finance at low cost, and generally to contribute to the well-being of the housing sector in the national economy.
• CMHC contributes to the well-being of the housing sector through three core activities: deliver commercial solutions (Mortgage Loan Insurance and Securitization); deliver government housing programs and priorities; and build and share housing knowledge and expertise.
• Demand for housing multi-unit mortgage loan insurance products was strong in 2024. These products helped cushion the impact of elevated interest rates and rising construction costs on multi-unit projects. More than 49,000 housing units were purchased across Canada with the help of CMHC’s homeowner insurance products in 2024, with over 14% insured in rural areas.
• CMHC also offers reliable mortgage funding to approved financial institutions, supporting mortgage lending activities through all market conditions and economic cycles by guaranteeing the timely payment of principal and interest on National Housing Act Mortgage-Backed Securities (NHA MBS). NHA MBS guarantee volumes grew by 9% in 2024 to $164.5 billion, up from $150.6 billion in 2023.
• Per CMHC’s 2024 Annual Report, CMHC programs (commercial programs and government housing programs) helped build, repair, and assist 504,531 housing units in 2024. Of these units, 79% were in markets with greatest need of new and/or improved rental supply.

CMHC Operations

• CMHC’s total expenses in 2024 were $4.92 billion including housing program expenses, operating expenses and insurance expenses. Operating expenses related to delivering government housing programs were $417 million.
• CMHC Spending in 2024 was in line with the Government’s spending reduction target, as reflected in the 2024-28 Corporate Plan. CMHC found efficiencies in administrative expenses, professional services and travel.
• CMHC’s annual consolidated net income reduces the Government’s annual deficit and CMHC’s consolidated retained earnings and accumulated other comprehensive income reduce the Government’s accumulated deficit.

CMHC Compensation

• CMHC’s compensation framework is disclosed via the CMHC Corporate Plan in compliance with requirements for Crown corporations under the Financial Administration Act and applicable Treasury Board policies. Personnel expenses for each fiscal year are also reported in the CMHC’s annual financial statements.
• Chief Executive Officer (CEO) compensation, which includes a range for short-term performance incentive award, is recommended by the Board of Directors to the Minister responsible based on market comparables and position requirements. The final determination is made by the Governor in Council. The CEO’s base salary is fixed by the Governor in Council on the recommendation of the Board at $468,900 to $551,600, as per approved ranges at July 2024.
• CMHC’s base salary range for Senior Vice-President (SVP) was $264,834 to $397,252, as per approved ranges at July 2024.
• CMHC executives are also paid a performance-based incentive award that ranges from 0.0% up to 28% for the CEO and 0.0% up to 24.75% (short-term incentive plan) and 0.0% to 24.50% (long-term incentive plan) for SVPs (2024).
• Total compensation per calendar year in 2024 ranged from $468,900 - $706,048 for the CEO and from $264,834 to $592,898 for SVPs.

Build Canada Homes Chief Executive Officer Remuneration

Issue / question

What is the compensation package for the Chief Executive Officer of Build Canada Homes?

Suggested response

• The Chief Executive Officer (CEO) of the new Build Canada Homes (BCH) agency is a Governor in Council (GIC) appointee, remunerated in accordance with salary ranges and performance pay standards for GIC appointees. The CEO position is also subject to the terms and conditions of employment for full-time GIC appointees.
• The salary range published with the appointment Order in Council for Ana Bailão, the first CEO of BCH, effective September 29, 2025, is $398,800 - $469,100, to hold office for a term of five years.
• Specific remuneration for individual appointees is subject to the Privacy Act and the Access to Information Act and protected under federal legislation.

Background

• Ana Bailão is a leader in housing policy and public affairs, with extensive experience in municipal government and in advancing affordable and sustainable development.
• Ms. Bailão was the Head of Affordable Housing and Public Affairs for Dream Unlimited Corp. At Dream, she was responsible for advancing Dream's affordable housing strategy and development, strengthening partnerships with government and community stakeholders, and ensuring that development projects integrate long-term affordability and sustainability.
• From 2010 to 2022, she served on Toronto City Council, including five years as Deputy Mayor. As Chair of the Planning and Housing Committee and during her time on the board of Toronto Community Housing, she led initiatives to expand affordable housing, reform zoning, and launch programs like Housing Now and CreateTO.
• Before entering public office, she held senior roles in the financial and technology sectors. She has served on numerous boards, including the Federation of Canadian Municipalities, Artscape, Toronto Public Library, and Toronto Arts Council.

Canada Infrastructure Bank Involvement in Housing and Retrofits

Issue / question

How is the Canada Infrastructure Bank supporting housing development and retrofits?

Suggested response

• Through its Infrastructure for Housing Initiative, the Canada Infrastructure Bank (CIB) is investing in essential infrastructure—like water, wastewater, transit, and district energy—that enables new housing construction. The CIB is working with municipalities, provinces, and the private sector to enable up to 100,000 new homes across Canada.
• The CIB’s Building Retrofits Initiative helps building owners make energy-efficient upgrades sooner, reducing emissions and cutting energy costs for both landlords and tenants.
• CIB funding for retrofit projects includes tenant protection measures—rent can’t rise beyond provincial guidelines, and increased utility costs from the renovations can’t be passed on to tenants.
• Together, these measures ensure retrofits support Canada’s climate goals while keeping housing affordable for Canadians.

Background

• On March 26, 2024, the Canada Infrastructure Bank (CIB) announced the Infrastructure for Housing Initiative (IHI), a targeted loan product for municipalities and Indigenous communities that aims to fund new infrastructure in support of new housing supply. Investments under the IHI are made under the CIB’s existing funding envelope and priority sectors. Eligible projects are expected to be primarily last-mile, and net-new large-scale enabling infrastructure in areas such as:
  • Water: including water, wastewater, stormwater and conveyance;
  • Transportation: roads, bridges and related civil work;
  • Transit: electric buses, light-rail transit, stations and terminals; and
  • Clean power: district energy, electricity distribution and storage.
• Under this initiative the CIB partners with the private sector to provide a co-blended loan to municipalities for infrastructure that is necessary to support new housing development. The private sector loan, at market rate, is combined with the CIB’s concessional financing to provide a loan at a lower rate than what is available through traditional financing avenues. The loans will be repaid using specific revenue streams that are expected to grow as housing growth materializes (e.g., water ratepayers).
• As of September 2025, the CIB has invested in one IHI project: up to $140 million toward water and wastewater infrastructure in Brandon and small communities in Southeast Manitoba, to strengthen and improve water and wastewater infrastructure in some of the province’s fastest growing communities, and to support future developments of approximately 15,000 new housing units.
• Additionally, $2 million was committed in April 2024 under the CIB’s accelerator funding program to support analysis and assessment work toward the redevelopment of the Namur-Hippodrome area of Montréal, which could provide more than 10,000 housing units. This work will include determining efficient ways of delivering public transportation, power, and water; how to best deliver an eco-friendly project; and how to ensure proper integration into the existing subterranean infrastructure.
• Prior to the launch of the IHI, the CIB had already announced financing to projects that will spur new housing, including:
  • A $7.9 million investment in the Netmizaaggamig Nishnaabeg community of Northern Ontario to help build critical infrastructure (e.g., electrical, broadband and water services) for the establishment of fully serviced building lots for approximately 55 multi-family affordable and social housing units (announced in January 2023).
  • $15 million invested toward significant road upgrades in the Enoch Cree Nation Reserve in Alberta which will also support investments in other social and community infrastructure initiatives (announced in August 2023).
  • Clean energy investments of $135 million in the Markham District Energy project to help expand future district energy systems and support future housing in the City of Markham (announced in November 2022).
  • $175 million in a district energy expansion project in Richmond, British Columbia. The project will enable expansion to more than 170 new residential and mixed-use commercial development sites in the area by 2050 (announced in August 2019).

Retrofits

• The CIB’s Building Retrofits Initiative (BRI) provides financing for capital costs of energy retrofits, using energy savings, efficiencies, and operating cost savings for repayment. Private-sector buildings eligible for funding under the BRI include commercial, industrial, and multi-unit residential buildings. The CIB’s financing is only available for building renovation projects that include decarbonization retrofits. Ultimately, energy savings, efficiencies, and operating cost savings are passed on to building owners and tenants.
• In 2023-24, stakeholders expressed concern to the CIB and the Minister of Housing, Infrastructure and Communities that the CIB’s $130 million investment in the Avenue Living Asset Management retrofit project in Alberta and Saskatchewan could lead to renovictions and increased rental prices for tenants. The CIB has been working with Avenue Living and concerned stakeholders to mitigate these concerns. It has also adjusted its standard terms for building retrofits to avoid similar situations for future projects.
• The CIB’s investment will finance retrofits at 240 properties (totalling more than 6,400 residential units) within Avenue Living’s portfolio.
• Another BRI project involving residential units is the GDI Integrated Facility Services Retrofits. Announced in July 2024, the CIB’s $100 million investment will provide opportunities for GDI clients (i.e., building owners and operators of commercial, institutional and multi-residential buildings across Canada) to upgrade aging infrastructure with new mechanical and electrical systems, clean and renewable power sources and energy storage facilities.

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