PENTICTON, BC, July 29, 2026 /CNW/ -- 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. We are focused on building great neighbourhoods that Canadians want to, and can afford to live in.

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 British Columbia announced more than $1 million in combined funding through the Canada-British Columbia Bilateral agreement for 28 new homes in Penticton.  Located at 603 Main St., this five-storey development offers a mix of one-, two- and three-bedroom homes that are close to public transit, restaurants, schools, retail, and other services.

Six of the 12 one-bedroom homes are fully wheelchair accessible, and an elevator provides access for all residents to the second-floor outdoor community space. This space provides an area for residents to gather in groups for events or cultural activities, fostering community wellbeing. Each home is equipped with a heat pump to allow for cooling during the area's hot summer months. Covered parking spaces will ease potential mobility challenges during cold, snowy winters.

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:

"Canada's Government is committed to providing communities the support they need to develop local solutions to homelessness. This funding will provide Penticton residents with 28 new affordable homes to meet the diverse needs of the people who will be living here. This marks another step forward in our bold, ambitious plan to build Canada strong." –   The Honourable Stephen Fuhr, Member of Parliament for Kelowna and Secretary of State, Defence Procurement

"People deserve the option to affordably live in the community they love, close to the family, friends and amenities they rely on, We're working in partnership with the federal government, housing providers, Indigenous leaders and organizations to help keep people connected and deliver the housing options they need." – Christine Boyle, Provincial Minister of Housing and Municipal Affairs

"This opening highlights Indigenous-led housing solutions delivered right here in Penticton. Affordable and with access to excellent amenities, these new homes reflect local needs and values, and we􀍛re committed to delivering more homes like these in B.C. communities." – Amelia Boultbee, MLA for Penticton-Summerland 

"Many urban Indigenous people and Elders in BC are struggling with housing precarity, especially those with accessibility needs. Those with low or fixed incomes can't afford market rentals and this is where AHMA members play a critical role in community wellness and stability. We raise our hands to M'akola Housing Society for their expertise in creating homes for those most in need." – Margaret Pfoh, CEO, Aboriginal Housing Management Association (AHMA)

"M'akola looks forward to welcoming the first residents to 603 Main Street. Located in the heart of Penticton, these 28 affordable homes will provide Indigenous families, individuals and Elders with a safe and stable place to call home that's close to the services, amenities and community connections that support wellbeing and belonging. We are grateful to the Penticton community and our project partners for helping make these life-changing homes a reality" – Kevin Albers, CEO, M'akola Housing Society

"Creating a livable and accessible city for people at every stage of life is one of Council's key priorities. These new affordable homes will help more individuals, families, seniors and Elders find a safe, stable place to live in our community. We are grateful for the partnership between the Province and M'akola Housing Society in delivering housing that is accessible, inclusive and supports the diverse needs of Penticton residents" – Julius Bloomfield, Mayor, City of Penticton

Quick Facts:

• The National Housing Strategy (NHS) is a 10+ year, $115+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives are updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. The Housing and Infrastructure Project Map shows affordable housing projects that have been developed.
  • As of March 2026 the federal government has committed $82.28 billion to support the creation of over 199,000 units and the repair of over 344,200 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.
  • NHS is built on strong partnerships between the federal, provincial, and territorial governments, and continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private housing sectors. This includes consultations with Canadians from all walks of life, and people with lived experience of housing need.
• 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 March 2026, the Government of Canada has committed $15.83 billion to support the creation of over 61,700 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 603 main Street is as follows:
  • $1.8 million in combined funding through the Canada-British Columbia Bilateral Agreement
  • $16.1 million in combined funding from the federal government, through the Affordable Housing Fund (previously announced)
  • $4.4 million from the Province of British Columbia through Community Housing Initiative Grant, $11.1 million through interim financing and $665,407 in annual operating funding

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.
• Canada Mortgage and Housing Corporation (CMHC) is a federal Crown corporation and the foundation of Canada's housing system. For over 80 years, CMHC has supported the functioning of housing markets across the country through housing finance solutions — including mortgage loan insurance and securitization — while providing trusted, unbiased data, research and market intelligence to inform policy and decision making. Through its national presence, deep expertise in housing economics and finance, and a system-wide perspective, CMHC helps foster a more stable, well-functioning housing market that supports households, communities and the broader economy.
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• To learn how B.C. is working to deliver more homes for people, visit: https://gov.bc.ca/homesforpeople
• A map showing the location of all announced provincially funded housing projects in B.C. is available online: https://www.bchousing.org/homes-for-BC
• To learn how BC Housing is helping to build strong, inclusive communities, visit: https://www.bchousing.org/podcast

SOURCE Canada Mortgage and Housing Corporation (CMHC)