Canada announces funding for 56 rental homes in Prince Edward Island

Charlottetown, Prince Edward Island, October 14, 2025

Solving Canada’s housing crisis requires immediate action to build up supply and bring down costs. The Government of Canada is stepping up with unprecedented investments to supercharge housing construction in Canada. To that end, the federal government launched Build Canada Homes, a new federal agency that will build affordable housing at scale, including transitional and supportive housing, deeply affordable and community housing, and affordable homes for the Canadian.

As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working together with the private and non-profit sector to bring down costs and build homes at a scale and pace not seen in generations. These investments are also providing Canadians with increased access to affordable and sustainable housing.

The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partnered organizations for new affordable housing and the renovation and repair of existing, affordable and community housing.

Today, the federal government announced more than $2.2 million in funding through the Affordable Housing Fund to help renovate 56 secure, affordable rental homes across Prince Edward Island.

The announcement was made by Sean Casey, Parliamentary Secretary to the Minister of Veterans Affairs and Associate Minister of National Defence and Member of Parliament for Charlottetown, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada alongside Lisa Cooper, President and Chief of the Native Council of Prince Edward Island.

The properties managed by Nanegkam Housing Corporation, under the umbrella of the Native Council of Prince Edward Island (NCPEI), include 56 units across Charlottetown, Cornwall, and Summerside, consisting of duplexes, apartments, and single-family homes. Through the UI560 Project, Nanegkam Housing has been able to provide updates and upgrades to most of these units. A significant portion of the units are rent-geared-to-income, helping to address the need for affordable housing. These homes are specifically aimed at supporting Indigenous women and children, providing access to safe, supportive, and affordable living spaces.

Budget 2025, to be tabled next month, will build on this momentum with further measures to lower costs for builders, catalyse private capital, and double the pace of homebuilding across Canada. Budget 2025 will spend less on government operations and reduce waste, so we can invest more to grow our economy, build more homes, and make life more affordable for you.

Quotes:

“We need to build more, build better and build bolder. Through investments in affordable housing, our government is supporting those who need it most, here in Prince Edouard Island and across the country. We are committed to strengthening communities through initiatives like this one.”
— The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada

“Every Canadian has a right to a safe, affordable home to call their own. That is why this government is collaborating with provincial and municipal governments to deliver good, quality homes to areas that need them most. This project will provide more safe, affordable homes for residents in an important area of Charlottetown. It’s also another step forward in building an economy that serves everyone.”
— Sean Casey, Parliamentary Secretary to the Minister of Veterans Affairs and Associate Minister of National Defence and Member of Parliament for Charlottetown

“Nanegkam Housing and the Native Council of PEI have proudly provided affordable housing options for over 50 years. This funding will allow us to improve the housing conditions for the most marginalized and vulnerable Indigenous population. More than that, this is a shared commitment among our community, the Province of PEI, and the Government of Canada towards a housing-first model of healing and reconciliation.”
— Lisa Cooper, President and Chief of the Native Council of Prince Edward Island and Nanegkam Housing Inc.

Quick facts:

As of June 2025, the federal government has committed $69.62 billion to support the creation of over 170,700 units and the repair of over 322,300 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.
The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partnered organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. This is a $16.1 billion program that gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous Peoples, people living with disabilities, those with mental health or addiction issues, Veterans, and young adults.
- As of June 2025, the Government of Canada has committed $12.91 billion to support the creation of over 50,300 units and the repair of over 174,600 units through the Affordable Housing Fund.
A dedicated $50 million stream under the National Housing Co-Investment Fund (now AHF) was dedicated to support Black-led organizations to build housing, as well as more affordable housing for Black renter households.
On September 19, 2025, the Government of Canada announced $1.5 billion top-up in loans for the Affordable Housing Fund’s New Construction Stream, to support the creation of over 5,000 new units starting in 2025 – 26. Additionally, the Affordable Housing Fund’s Rapid Housing Sub-Stream will be accelerated, by pulling $385 million in funding from future years.

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.