In Federal Budget, Ottawa Looks to Canada Post Land for Building Housing Supply

The federal government is eyeing underutilized Canada Post and National Defence properties as a way to deliver affordability and supply to the country’s housing market. In its federal budget released on April 16, it announced plans to free up lands held by both entities in order to build housing at a pace and scale “not seen in generations” and help younger Canadians get into the real estate market. The goal is creating a supply of 3.87 million new homes—adding two million net new homes to the 1.87 million the country was already on track to build—by 2031. The Canadian Mortgage and Housing Corp. has said the country needs to build 3.5 million more homes by 2030 to restore affordability to levels seen in 2003 and 2004....