Department of Finance Canada said Canada's economic plan is building more rental homes, faster in Victoria.
The over $40 billion Apartment Construction Loan Program, previously known as the Rental Construction Financing Initiative, boosts the construction of new rental homes by providing low-cost financing to homebuilders.
Since 2017, the Apartment Construction Loan Program has committed over $17 billion to build more than 46,000 new rental homes and is on track to build 101,000 new rental homes across Canada by 2031-32.
Over $4 billion towards ending chronic homelessness, through Reaching Home, Canada's Homelessness Strategy.
For renters and municipalities, public funding and financing can affect how quickly affordable or purpose-built rental homes are added.
$4 billion through the Rapid Housing Initiative, which is building more than 15,500 affordable homes for people experiencing homelessness or in severe housing need by 2026;.