Remarks by the Deputy Prime Minister on building more homes, faster in Winnipeg

Winnipeg, MB - February 22, 2024

Check Against Delivery

I would like to start by acknowledging that we are located on Treaty One territory, the traditional territory of the Anishinaabeg, Cree, Ojibway, OjiCree, Dakota, and Dene Peoples, and the homeland of the Red River Métis Nation.

I love Winnipeg, and I am so happy to be in Winnipeg today. And I am really happy to be here with the team at the University of Winnipeg Community Renewal Corporation and to see first-hand the amazing work you are doing, the amazing homes you are creating, and the amazing communities you are making possible.

Before talking about housing, I just want to start by highlighting some good economic news.

We learned earlier this week that inflation in Canada fell to 2.9 per cent in January. That’s down from 3.4 per cent in December and down from its peak of 8.1 per cent. This is real progress and a return to the Bank of Canada’s target range. Great news for all of us, including people trying to get the financing to build more homes, faster.

And now I would like to take a moment to highlight why this housing project is so special, and why it is so important for Winnipeggers and such a great example for people across the country.

We are at 290 Colony Street right now, where construction on 119 new rental homes has just been completed. People are just starting to move in. This is one of the many recently completed housing projects in the neighbourhood, including 320 and 167 Colony Street, which have a combined 212 new homes.  

And behind us is 308 Colony Street, which is also soon going to be a home to hundreds of people here in downtown Winnipeg—people will start moving in by December 2025. There will be 214 rental units for people with low and middle-incomes, as well as two commercial spaces on the ground floor. Of the 214 rental units, 86 will be affordable housing for people with low-incomes and for vulnerable people. There will be a mix of studio apartments, and one and two-bedroom apartments—room for families. 

I want to emphasize a design principle here which I think is so important. You can’t tell, when you knock on the door, whether you are knocking on the door of affordable housing or market-rate housing. That is one of the things that makes this a real community. I am so inspired by how you are thinking about making a great place to live while also making sure that people don’t feel stigmatized.

The 308 Colony project is also designed to have near net-zero greenhouse gas emissions. For the people who live here, that means their energy bills will be lower.

And really importantly, the project is creating over 200 jobs during the course of construction. I do want to take a moment to recognize and thank the skilled tradespeople whose talented hands and sharp minds are building these homes. Thank you so much—you are doing really important work.

This is a prime example of what a great housing project in Canada in 2024 looks like: increasing access to affordable housing, creating a vibrant community, creating good jobs, and coming with a low environmental impact that has a direct, immediate benefit for the pocketbooks of the people who live here.

And I am so delighted that our government supported the 308 Colony project with an investment of $16 million through our Affordable Housing Fund. The Fund provides low-interest loans, forgivable loans and contributions for the construction of new affordable housing, and gives priority to partnerships between governments, non-profits, and the private sector—exactly what we’re seeing here—to make projects like this one possible.

In fact, all of the buildings in this new neighbourhood received federal support. This is an example of the great things we can achieve when all orders of government—and organizations like the University of Winnipeg Community Renewal Corporation—work together.

These are really nice places to live. They are really beautifully and thoughtfully designed apartments. There will be great amenities for people to enjoy, like greenspace, a lounge, a gym, and close to transit, parks, supermarkets, and the University of Winnipeg.

And the apartments here are more than housing; they’re homes and they are about creating a true community for all the people who live here and who will live here—the people who are paying market rents and the people who are living in affordable housing. 

These are exactly the types of homes that Winnipeg needs more of and that Canada needs more of.

Our government recognizes that—and that is why our economic plan is focused on taking real, concrete action to build more homes, faster.

We are unlocking billions of dollars in new financing for housing, including $40 billion in additional low-cost financing through the Apartment Construction Loan Program, which will help build more than 101,000 additional rental homes for Canadians.

We are lifting the GST on new rental construction to remove barriers to building more homes.

We are cracking down on foreign ownership of Canadian housing. We are also cracking down on short-term rentals, which have been keeping tens of thousands of homes off the market, particularly in cities like Toronto, Vancouver, and Montreal, where the housing challenge is most acute.

And we have already signed a number of agreements with municipalities across the country—including with the great city of Winnipeg—through the Housing Accelerator Fund.

These agreements will help cut red tape and increase Canada’s housing supply. In Winnipeg, this means more than 3,000 new homes will be fast-tracked over the next three years, and more than 15,000 homes over the next decade.

Our government is working every single day to deliver for Winnipeggers and for Canadians from coast to coast to coast. And this beautiful new neighbourhood—this entire new community—is a vivid representation of our economic plan in action.

So, thank you again to everyone who is working so hard to make this project happen. I am really inspired by your work and really grateful to you. This new neighbourhood is a wonderful addition to downtown Winnipeg, and I look forward to coming back when it is all finished!

Thank you very much.