Canada and Prince Edward Island announce funding for 70 new homes in Cornwall

Cornwall, PEI, April 9, 2026

Far too many Canadians are struggling to find homes they can afford. Solving Canada’s housing crisis requires immediate action to bring down costs, cut red tape, and build homes more quickly. The Government of Canada is stepping up with a bold new approach to build affordable housing across the country.

Central to that work, the Government of Canada has launched Build Canada Homes, which is helping increase the pace of affordable homebuilding. Build Canada Homes is also helping fight homelessness by building transitional and supportive housing – working with provinces, territories, municipalities, and Indigenous communities. It is building deeply affordable and community housing for low-income households, and partnering with private market developers to build affordable homes for the Canadian middle class.

As part of the Government of Canada’s broader efforts to respond to the housing crisis, investments are being made across the housing continuum to respond to the needs of communities across Canada.

Today, the federal government, along with the province of Prince Edward Island and the Town of Cornwall, announced over $19 million in combined funding and waivers to help build 70 secure, rental homes in Cornwall. This development, comprised of two buildings located directly across from a local middle school, will offer 70 new homes serving families, seniors, and students. It includes family-sized three-bedroom units, accessible homes for seniors, and mid-market units that support housing affordability for students. The project integrates 11 universal units and 7 adaptable units, reflecting a commitment to accessibility and to meeting the diverse needs of residents.

The announcement was made by the Honourable Heath MacDonald, Minister of Agriculture and Agri-Food and Member of Parliament for Malpeque, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, alongside the Honourable Kent Dollar, Minister of Housing and Communities, and Minerva McCourt, Mayor of the Town of Cornwall.

Also highlighted today is Cornwall’s success in meeting their Housing Accelerator Fund (HAF) commitments and exceeding housing unit targets. Through the program, Cornwall proposed an ambitious Housing Action Plan which included updating its bylaws to allow for more types of housing and updating its development charge bylaw among other important initiatives. The Town recently received its third HAF installment of nearly $1.1 million reflecting the successful implementation of its plan. HAF rewards local governments for pursuing changes that cut red tape and build more homes faster. HAF encourages local solutions that create more housing options by driving innovation, removing barriers and incentivizing updates to planning systems.

The Government of Canada is making the housing investments that will help strengthen Canadian supply chains and create good jobs at every step of the homebuilding process – helping to build more homes and a stronger Canadian economy at the same time.

Quotes:

“Our Government is committed to driving housing supply to bring housing costs down. Today’s project will create more much-needed rental homes for the people living and working in Cornwall. It’s an example of what’s possible when all levels of governments and communities 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

“Our Government is focused in delivering housing for the people of Cornwall and across the country. Supporting this project is one of the ways we do that. I’m proud of our involvement in this project, and of the tangible difference it will make for people in this community.”
– The Honourable Heath MacDonald, Minister of Agriculture and Agri-Food and Member of Parliament for Malpeque

“Through our five-year provincial housing strategy, the provincial government is committed to ensuring that every person has access to safe, affordable housing. Partnering with private developers to include social housing units in their projects is a practical way to add more affordable homes, faster. By working together, we can expand housing options across the province and reduce the waitlist for social housing.”
– The Honourable Kent Dollar, Minister of Housing and Communities

“The addition of 70 new rental homes at 105 Kingston Road is an important step in supporting the housing needs of our growing community. This project will help provide quality housing options for families, seniors, and students, and reflects the value of strong partnerships in helping Cornwall continue to grow.”
– Minerva McCourt, Mayor of the Town of Cornwall

“We are pleased to bring this project to life, and extend our sincere gratitude to all partners who contributed throughout the development and construction process. We particularly acknowledge the support of all three levels of government—CMHC, the Province of Prince Edward Island, and the Town of Cornwall—for their commitment to advancing housing opportunities for Islanders. We look forward to continuing to utilize these programs as we expand our efforts and long-term involvement in the industry.”
– David Arsenault, CPA, President, Kingston Holdings Inc.

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 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 December 2025, CMHC has committed $29.45 billion in loans through ACLP to support the creation of more than 74,600 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.
The Affordable Housing Development Program (AHDP) provides forgivable loans of up to $55,000 per unit to support construction costs in exchange for maintaining rental rates at affordable levels. The Government of Prince Edward Island, through the PEI Housing Corporation, enters into a long-term lease agreement for the affordable units and subsequently subleases them to eligible clients on the social housing registry using rent geared to income at 25 per cent of client’s income. As of December 2025, through the AHDP, 187 new affordable units and 296 market units have been completed since 2021.
Funding provided is as follows:
- $18.6 million from the federal government, through the Apartment Construction Loan Program.
- $400,000 from the PEI Housing Corporation.
- 25-year lease agreement with the PEI Housing Corporation for 8 units, including 4 accessible units, to be utilized for Islanders on the social housing registry.
- $38,382 in waivers and rebates from the Town of Cornwall.
- $1.3 million in borrower equity from Kingston Holdings Inc.

Additional information:

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

Build Canada Homes is ready to partner with organizations committed to increasing the supply of affordable housing across Canada. Learn more about the portal and the Investment Policy Framework.

CMHC plays a critical role as a national convenor to promote stability and sustainability in Canada’s housing finance system. CMHC’s mortgage insurance products support access to home ownership and the creation and maintenance of rental supply. CMHC research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, CMHC contributes to advancing housing affordability, equity, and climate compatibility. CMHC actively supports the Government of Canada in delivering on its commitment to make housing more affordable.

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Through the five-year Prince Edward Island Housing Strategy, the Government of Prince Edward Island is focused on acceleration to facilitate the growth of housing supply, affordability to provide more options for low- and medium-income Islanders, and vulnerability to support those most in need. Visit Affordable Housing Development Program for more information on forgivable loans to increase affordable housing in Prince Edward Island.