[Burnaby] Brentwood Block | 6 towers | 43-65fl | U/C

[jollyburger]

The $55 billion Apartment Construction Loan Program (ACLP) is providing low-cost financing to support more than 131,000 new rental homes across Canada by 2031 – 2032.

The ACLP provides a stable supply of purpose-built rental housing is essential for more people in Canada to have access to housing that meets their needs.
As of June 2025, CMHC has committed $24.9 billion in loans through ACLP to support the creation of more than 63,500 rental homes.

It is one of many programs and initiatives under the National Housing Strategy designed to help address housing needs across the housing continuum.

It complements other NHS initiatives that focus on funding affordable housing units for lower-income households.

Budget 2024 announced enhancements to the ACLP which includes the program being extended from 2027 – 2028 to 2031 – 2032. The enhancements will allow applicants to apply for funding for on- and off-campus student housing to support post-secondary educational institutions as well as independent seniors housing. There are no longer minimum requirements relating to energy efficiency and accessibility, instead applicants will benefit from making stronger commitments to desired rental supply and social outcomes.

Funding provided for Brentwood development is as follows:
$763.1 million from the federal government, through the National Housing Strategy’s Apartment Construction Loan Program
$283.4 million from Grosvenor and its partners in land and cash equity

https://www.cmhc-schl.gc.ca/media-newsro...invests-new-rental-housing-units-burnaby