Building more homes in Stratford

Stratford, Prince Edward Island, August 19, 2025

Solving Canada’s housing challenges requires immediate action to bring down costs. To provide Canadians with increased access to affordable and sustainable housing, the government today announced an investment of over $20 million for the construction of 60 housing units in the Town of Stratford through the Apartment Construction Loan Program (ACLP).

Today’s announcement, made by the Honourable Gregor Roberston, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, alongside Kent MacDonald, Member of Parliament for Cardigan, is one that will help make housing more affordable for families in the region.

The property, located at 13 Irving Avenue, offers an ideal location for a new housing development. Near to Stratford’s two elementary schools as well as the town’s newly built junior high and senior high schools, the development will only further strengthen the accessibility of the community. Within walking distance to grocery stores, pharmacies, hardware stores, restaurants, coffee shops, a physiotherapy clinic, dental offices, and family doctor practices, the project is exactly the sort of one we need in more communities across Canada.

By placing affordable, high-quality housing within walking distance of schools and key services, this new development is well-positioned to meet the needs of the community for decades to come, while improving residents’ quality of life.

As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working hand-in-hand with the non-profit sector to bring down costs and build homes at a scale and speed not seen since the Second World War.

Quotes:

“Your new federal government is committed to driving housing supply to bring down costs. This project will create more much-needed rental homes for the people living and working in Stratford. It’s an example of what’s possible when government and the private sector work together. It’s also another step forward in our bold, ambitious plan to build Canada strong.”
— The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada

“The investment we’re announcing today will make a real difference for people here in Stratford. With every project like this one, we’re getting closer to the country we want — one where everyone has a safe, affordable place to call home.”
— Kent MacDonald, Member of Parliament for Cardigan, Prince Edward Island

“The Apartment Construction Loan Program (ACLP) from CMHC has boosted another 60 rental housing units in Stratford, PEI, via low-cost, repayable loans for sustainable housing. CMHC and their dedication to housing supply via the ACLP Loan program eases developers’ barriers to provide affordable housing amid rising demand from population and economic growth. ACLP promotes inclusive communities, jobs and housing stability.”
— Steven Jackson, President of JCJ Properties

Quick facts:

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.

Additional information:

Visit canada.ca/housing for the most-requested Government of Canada housing information.

CMHC plays a critical role as a national facilitator to promote stability and sustainability in Canada’s housing finance system. Our mortgage insurance products support access to homeownership and the creation and maintenance of rental supply. We also actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Follow us on X, YouTube, LinkedIn, Facebook and Instagram.