Real Estate
Developers to Get Cheap Land Leases in Canadian Homebuilding Push
- Trudeau releases strategy to address housing shortage
- ‘Most ambitious plan’ in Canada’s history, says minister
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Prime Minister Justin Trudeau’s government will provide low-cost leases of public land to developers and push factory construction of homes as part of what it calls a “historic” plan to alleviate Canada’s housing crisis.
Companies that agree to build affordable homes will gain access to “surplus, underused, and vacant lands” owned by the public, the government said, while providing few specific details. The prime minister’s housing strategy, published on Friday, also includes low-interest loans for homeowners who want to add basement suites or laneway houses to their properties.