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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 Nova Scotia, announced over $13 million in combined funding to help build 41 secure, rental homes in Pictou. The announcement took place at the site of the Pictou Beeches project, a 27-unit housing development located on the harbour in Pictou, Nova Scotia. The project will offer a range of unit sizes, including a high proportion of family-sized homes, as well as select fully accessible units. The project is targeting net-zero ready status and will incorporate sustainable features such as rooftop photovoltaic panels.
In addition, funding was announced for Stonehouse Manor, a co-operative housing project located in downtown Pictou. The 132-year-old historic building will be converted into 15 residential units, offering a mix of one- and two-bedroom homes.
Also highlighted today is Pictou’s success in meeting their Housing Accelerator Fund commitments and exceeding housing unit targets. Through the program, Pictou proposed an ambitious plan and recently received its third installment of nearly $200,000 reflecting the successful implementation of its Housing Action Plan. The initiatives in Pictou's Housing Action Plan include changes to zoning bylaws to increase housing density, establishing an integrated Community Sustainability Plan and accelerating the development approvals process. These actions establish a strong foundation for long-term housing growth across a range of housing options within the community.
The announcement was made by the Honourable Sean Fraser, Minister of Justice, Attorney General of Canada, Minister responsible for the Atlantic Canada Opportunities Agency, and Member of Parliament for Central Nova, alongside Marco MacLeod, MLA for Pictou West.
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:
“I hear it at the grocery store, at the rink, and at the doors. Nova Scotians want to stay here, raise their families here, and afford a home here. These new homes will soon help more than 40 households put down roots in Pictou and stay close to the people and community they love. Nova Scotia has real momentum right now, and this investment helps keep it going by getting more affordable housing built faster, right where it’s needed most.”
“Each new home strengthens our community, and these 27 units are more than a construction project — they are future homes for people in Pictou. By working with our partners, we’re helping to give people a home where they can build their lives, raise their families, and stay connected to the community they love.”
“The Beeches Road project reflects exactly why Tidal Bay was created — to ensure Nova Scotians have access to stable, community‑rooted homes that remain affordable for generations. By combining long‑term stewardship with high‑quality, sustainable design, we’re building not just housing, but a foundation for stronger, healthier communities.”
“Federal funding for the Tidal Bay Community Land Co-operative’s Pictou Beaches project was pivotal in realizing 27 new affordable, co-operative homes in Nova Scotia, including 11 which will be affordable for low-income households. While in a housing crisis every new affordable home counts, we appreciate and recognize the federal government’s partnership with the co-operative housing sector, as the co-op model ensures these homes will always operate outside of the speculative market, with affordability deepening over time under the stewardship of the Tidal Bay Community Land Co-op.”
“The Nova Scotia Co-operative Council remains committed to working hand in hand with our federal, provincial, municipal, and community partners to keep delivering affordable housing solutions to Pictou and communities across Nova Scotia. Together, we'll continue addressing housing shortages, and building stronger, more inclusive communities for the long term, while keeping in mind the value in protecting our community landmarks.”
Quick facts:
- The Affordable Housing Fund (AHF) provided 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 was a $16.1 billion program under the National Housing Strategy (NHS) that gave 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. The application portal for AHF is now closed as all funding has been committed.
- As of December 2025, the Government of Canada has committed $14.44 billion to support the creation of over 56,900 units and the repair of over 174,700 units through the Affordable Housing Fund.
- On September 19, 2025, the Government of Canada announced $1.5 billion top-up in loans for the AHF’s New Construction Stream, to support the creation of over 5,000 new units starting in 2025 – 26. Additionally, the AHF’s Rapid Housing Sub-Stream will be accelerated, by pulling $385 million in funding from future years.
- Funding provided for Pictou Beeches is as follows:
- $9.4 million from the federal government, through the Affordable Housing Fund
- $1.6 million from the Province of Nova Scotia’s Department of Growth and Development
- $390,958 from Tidal Bay Community Land Co-operative Limited
- Funding provided for Stonehouse Manor is as follows:
- $1.3 million from the federal government, through the Affordable Housing Fund
- $1 million from the Province of Nova Scotia’s Department of Growth and Development
- $237,350 from the Nova Scotia Co-Operative Council Limited
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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Information on this news release:
Renée LeBlanc Proctor
Office of the Minister of Housing and Infrastructure
renee.proctor@infc.gc.ca
Media Relations
Canada Mortgage and Housing Corporation
media@cmhc-schl.gc.ca
