Canada invests in new rental housing units in Ottawa

Ottawa, 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 across 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 middle class.

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 Apartment Construction Loan Program (ACLP) provides fully repayable low-interest loans to catalize the construction of more rental units for middle-class Canadians.

Today, the federal government made an investment of over $136 million for the construction of 316 housing units in Ottawa through the ACLP.

Located at 1350 Fisher Avenue, the phase one of the Baseline project will be developed by the Theberge Group of Companies. The twenty-four-storey building will feature commercial and residential space and will offer a broad unit mix of studio, one, two and large three plus den bedrooms to accommodate families and individuals from all ages. The site is located close to public transit, restaurants, bakeries and shops within the vibrant Meadowlands-Fisher Glen community.

The announcement was made by The Honourable Jenna Sudds, Parliamentary Secretary to the Minister of Government Transformation, Public Works and Procurement and to the Secretary of State (Defence Procurement) and Member of Parliament for Kanata, alongside, Anita Vandenbeld, Member of Parliament for Ottawa West—Nepean and Sean Devine, City of Ottawa Councillor and Deputy Mayor, Ward 9 Knoxdale, at the site of the Baseline Road- Phase 1 project.

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 rental housing, our government is supporting those who need it most, here in Ottawa 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

“The Government of Canada is committed to working with our partners to rise to the challenge of building more housing in Canada. Through the Apartment Construction Loan Program, we are taking action to increase the supply of new rental housing by investing more than $136 million in the construction of 316 homes in Ottawa. This is more than just construction, it’s about creating opportunities for individuals and families to thrive, to grow, and to build their future with stability and dignity.”
— The Honourable Jenna Sudds, Parliamentary Secretary to the Minister of Government Transformation, Public Works and Procurement and to the Secretary of State (Defence Procurement) and Member of Parliament for Kanata

“Our Government is committed to increasing housing supply to bring housing costs down. This project will create more much-needed rental homes for the people living and working in Ottawa. 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.”
— Anita Vandenbeld, Member of Parliament for Ottawa West—Nepean

“We are proud to announce our partnership with the federal government on a landmark, multi-phase project. This initiative will redefine urban living and set a new standard for sustainable high-rise development in our nation's capital.”
— Joey Theberge, President, Theberge Group of Companies

Quick facts:

The $55 billion Apartment Construction Loan Program (ACLP) is providing low-cost financing to support more than 131,000 new rental homes across Canada by 2031 – 2032.
- The ACLP provides 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 June 2025, CMHC has committed $24.9 billion in loans through ACLP to support the creation of more than 63,500 rental homes.
- It is one of many programs and initiatives under the National Housing Strategy (NHS) 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
Funding provided for 1350 Fisher Avenue is as follows:
- $136.5 million in fully repayable loans from the federal government, through the Apartment Construction Loan Program

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.