Mark Carney announced the launch of Build Canada Homes (BCH), seeding the entity with $13B to kickstart the march towards 500K starts per year.

We’ve broken down BCH in the past, so in the spirit of keeping this tight - let’s focus on what’s new. The government’s land portfolio which includes 88 federal properties will be moved under the BCH umbrella…

… providing plenty of off-market runway beyond the initial six-site, 4,000 home commitment. So could a $1.5B fund within BCH aiming to preserve affordability by acquiring “at-risk” properties (old units that could be upgraded and repriced).

While it isn’t marketed this way… I imagine the fund could be a good asset recycling vehicle for REITs looking to free up capital for development initiatives. Let’s see.

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