Feds continue to roll out plans to alleviate the national housing crisis
The Government of Canada has announced more than $20 million in funding to support the construction of 60 rental housing units in Stratford, Prince Edward Island, through the Canada Mortgage and Housing Corporation’s (CMHC) Apartment Construction Loan Program (ACLP).
The announcement was made on Tuesday by housing and infrastructure minister Gregor Robertson, joined by Kent MacDonald, member of parliament for Cardigan. The project aims to expand affordable and sustainable rental options in a town experiencing rising housing demand.
New development in key location
The new development will be located at 13 Irving Avenue, within walking distance of Stratford’s two elementary schools, the town’s junior and senior high schools, grocery stores, pharmacies, medical offices, and other essential services.
Officials said the location highlights a key government strategy: placing affordable housing close to schools, businesses, and healthcare services to improve residents’ quality of life.
“This project will create more much-needed rental homes for the people living and working in Stratford,” Robertson said. “It’s an example of what’s possible when government and the private sector work together.”
MacDonald emphasized the project’s role in addressing regional housing needs. “The investment we’re announcing today will make a real difference for people here in Stratford,” he said. “With every project like this one, we’re getting closer to the country we want – one where everyone has a safe, affordable place to call home.”
Steven Jackson, president of JCJ Properties, the development company behind the project, highlighted the impact of CMHC’s low-cost financing. “The Apartment Construction Loan Program has boosted another 60 rental housing units in Stratford, via low-cost, repayable loans for sustainable housing,” he said. “[It] eases developers’ barriers to provide affordable housing amid rising demand from population and economic growth.”
National housing strategy
The ACLP is part of the federal government’s broader National Housing Strategy. The $55-billion program provides low-interest, fully repayable loans to developers in order to build more rental housing for middle-class Canadians.
According to CMHC, the ACLP is expected to support more than 131,000 new rental homes nationwide by 2032. As of March 2025, $23.35 billion in loans had been committed to create more than 59,000 units.
Budget 2024 extended the program to 2032, broadening eligibility to include student and seniors’ housing projects.
Robertson said such initiatives are key to strengthening Canada’s housing supply. “[This is] another step forward in our bold, ambitious plan to build Canada strong,” he said.
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