November 27, 2025
The Empire Club of Canada Presents
Building Canada’s Future: A New Era for Housing Delivery — Ana Bailão, CEO of Build Canada Homes
Chairman: Saurabh Popat, President, Board of Directors, Empire Club of Canada
Moderator
Amanda Alvaro, Co-host, Beyond a Ballot
Distinguished Guest Speaker
Ana Bailão, CEO, Build Canada Homes
Head Table Guests
Victoria Mancinelli, Director of PR, Communications & Strategic Partnerships, LiUNA
Nicholas Gefucia, Senior Vice President, EllisDon Community Builders, EllisDon
Janice Myers, CEO, CREA
Welcome Address by Saurabh Popat, President, Board of Directors, Empire Club of Canada
Thanks so much. Good afternoon, everyone. I’m Saurabh Popat, Chair of the Board here at the Empire Club of Canada, and your host for today’s event.
To formally begin, I want to acknowledge that we are gathering on the Traditional and Treaty Lands of the Mississaugas of the Credit, and the homelands of the Anishinaabe, the Haudenosaunee, and the Wendat Peoples. I encourage you all to learn more about the Traditional Territory on which you work and live.
Now, today’s event would not be possible without the generous support of our incredible sponsors. The Empire Club is a not-for-profit organization, and our sponsors generously support the club, and make these events possible and complimentary for our online viewers to attend. So, please join me in thanking our Lead Sponsors, EllisDon, CREA, and LiUNA. Thank you to our VIP Reception Sponsors, Northcrest Development, Farmer Low, and Stelumar Advanced Manufacturing. Thank you. And to our Supporting Sponsors, Cassels, Emblem, and the Hillcrest Consulting Group. Thank you. We also deeply appreciate the ongoing support of our Lead Season Sponsors, Bruce Power, Hydro One, and National Bank Financial Markets, and our VIP Season Sponsors, EllisDon, McKinsey & Company, the Ontario Road Builders Association, and Waste Connections of Canada. Thank you. And finally, thank you to our media sponsor, Toronto Star, and our AV Partner, Bespoke Audiovisual. Thank you.
Before we begin, I just wanted to provide a brief update. Rachel, who was originally scheduled to co-moderate today’s conversation, is unfortunately unable to join us, due to unforeseen circumstances. We’re delighted, however, that her colleague and co-host of Beyond a Ballot, Amanda Alvaro, will be leading the discussion this afternoon. We know we’re in great hands, and look forward to a thoughtful and engaging conversation. Welcome, to those of you online. If you require technical assistance, please use the chat feature.
Now, it’s always a pleasure to welcome you all here to the Empire Club of Canada. Our theme for this year has been focused on Building One Canada, and today’s conversation about building Canada’s future in housing is a critical part of our country’s success and impacts the lives of every Canadian. Across the country, families are doing their best to keep pace with the challenges in housing that feels like they are mounting every year. Young people are wondering, where will they build their lives? Newcomers are working to put down roots, and also wondering where they will go in terms of new homes. Parents are hoping their kids will have the same chances as they did.
Now, these are not abstract policy debates. These are lived experiences that all levels of government are trying to address. The Empire Club has always convened real-world conversations together with the leaders who are shaping solutions. We create a place here where we can ask tough questions, share bold ideas, and where the conversation feels grounded in both urgency and possibility. Today is one of those moments. Canada is entering a new era in how we think about, build, and deliver housing. We are, as the Prime Minister would say, at a hinge moment, and this stage is the right place to explore how we build Canada for the future.
Events like this come together through partners who share in the vision of building a united Canada. Today’s Lead Sponsor, LiUNA, has been part of building Canada’s communities for generations. They understand what it takes to turn a blueprint into a home, from skilled workers, to strong partnerships, and a commitment to the people who rely on both. That’s right. Their support makes conversations like this possible, and we are very grateful for their leadership. In fact, the work to accelerate building Canada’s housing cannot happen without labour. LiUNA is a critical part of this journey, as they have been with our ongoing journey at the Empire Club for many years. It’s now my pleasure to invite Victoria Mancinelli from LiUNA, to deliver the opening remarks. Victoria.
Opening Remarks by Victoria Mancinelli, Director of PR, Communications & Strategic Partnerships, LiUNA
Good afternoon, everyone. It’s a pleasure to be here on behalf of LiUNA, representing the largest unionized workforce in Canada’s residential sector. These are the men and women who show up day in, day out, to build Canada’s homes, and the infrastructure that makes our communities thrive, together with our employer partners, many of who are in the room today, who are integral to nation building. Right now, the sector is under real pressure. In the GTA and beyond, low-rise residential construction is slowing, or has reached a near standstill. High development charges, suffocating red tape, uncertainty of tariffs, and entrenched NIMBYism are choking the supply of new housing at the very moment Canadians need it most. Overcoming this crisis will demand a united effort from every level of government, backed by tangible, measurable solutions, that actually moved projects forward. That is why we are proud to welcome a leader who understands at her core that Canada cannot solve its housing crisis without the skilled workers who build it.
Having grown up in the labour movement, her father, a proud member of LiUNA Local 183, Ana Bailão understands what it means to stand with workers, to build partnerships, and to deliver results. Throughout her career, Ana has been a steady, pragmatic voice for building affordable and attainable homes, cutting red tape, and strengthening the partnerships that get shovels in the ground. She knows that housing is not just a slogan, it’s planning, labour, infrastructure, and the political will to deliver. And she has never shied away from working with unions like LiUNA to advance real solutions, support workers, and exhilarate the construction of homes families can afford. That commitment remains front and centre at her work today as CEO of Build Canada Homes. Ana Bailão brings experience, clarity, and a wavering commitment to action. As we look to build Canada’s future, those are exactly the qualities this moment demands. Please join me, in welcoming our guests of honour this evening—this afternoon—Ana Bailão.
Ana Bailão, CEO, Build Canada Homes
Thank you, Victoria. Canada stands at a crossroads. For decades, we’ve talked about housing as a challenge. Today, we know it’s more than that. It’s a test of who we are as a nation. Across the country, families are being squeezed by rising rents. Young people are living cities they love. Communities are struggling to keep pace with demand. And these aren’t headlines, they’re Canada’s reality. At the same time, and as Victoria mentioned, we’re seeing the residential construction sector stall at a time when we need it to be more productive than ever.
And consider this, Canada ranks among the lowest in the OECD for social housing. That means the gap isn’t just about quantity, it’s about equity. We need more supply. I think by now, everybody has agreed on that. But we also need housing across the entire spectrum of affordability, including supportive and transitional housing for those who need it the most. Because here’s the truth: housing, it’s about building futures. Every home we build strengthens a family, a community, and our economy. So, this is not a crisis to manage; it’s an opportunity to lead. Now, not tomorrow, not someday, but now.
So, thank you to the Empire Club for hosting this important conversation, and putting together this beautiful room. I have to share with you, so about a month before, some of you know, about a month before getting this job, exciting job, I got engaged—my fiancé is here, very proud. But you can imagine how much time I have to plan this wedding. So, Empire Club, if you can do it for me, I’d be glad, it’ll be great if you can do that for me. So, for more than a century, you’ve been, here at the Empire Club, a forum for ideas that have propelled national action. And today, we need action more than ever. It’s a privilege to be here in my home city, among so many housing leaders, builders, and champions. The people in this room know better than anyone the very real challenges that Canadians face. Families, builders, and communities are all feeling the pressure. I understand.
But let me be clear. These challenges are also the spark for Canada’s next great housing transformation. Across Canada, we’ve seen resilience and creativity. Governments, industry, and community partners have already taken meaningful steps. From the launch of Canada’s first national housing strategy to thousands of homes being delivered through partnerships. These efforts matter, and provide us with a strong foundation to accelerate what comes next. So, despite these challenges, there’s good news. There’s real opportunity. Canada has one of the best building industries and workforce in the world. And it has a long track record of success. It’s adaptable, it’s resilient, and it’s positively positioned to lead. In the past, this industry has transformed residential construction. It didn’t just build homes; it built communities, shaped skylines, and defined how Canadians live. From post-war boom that gave families their first front yards to the rise of urban condos that redefined city living, reinvention has always been at the heart of our housing story.
So, today, we stand on the brink of another reinvention. One that demands speed, creativity, and collaboration like never before. The challenges we face are unprecedented, but so are the tools at our disposal. Advanced building technologies, modular and prefab solutions, innovative financing, and partnerships that unite specialized expertise. It is at precisely this moment that I speak to you today, our moment to lead again.
Alongside these new technologies, we have a generational opportunity to propel Canada’s community housing sector into the future by building on their experience, and their proven track record of delivering long-term care, long-term affordable homes, and long-term care. Considering the pioneer partnership between the Co-op Housing Federation of Toronto and the private sector, together they’re developing 612 mixed-income Co-op homes on surplus land at 2444 Eglinton Avenue East. [Applause] Yes. With shovels on the ground very soon, and—because I can’t be there, but they were very kind to invite me, I hope I’m not saying anybody then anybody doesn’t know—shovels in the ground tomorrow. So, this is action. This is action and this is innovation. Look what innovation look likes. And it’s happening here right now in Canada. These examples remind us that progress is possible here and today.
Now, we need to accelerate it, because the truth is, incremental progress is not enough. The scale of today’s challenges demand a new level of ambition, a generational effort to transform how Canada builds housing. That sense of urgency is why 75 days ago—yes, it’s only been 75, sometimes feels like two years, sometimes feels like two weeks, it depends, but that is why our Prime Minister asked me to take the role of CEO of Build Canada Homes. His commitment is so clear. His commitment is very clear. Scale up supply of affordable housing, and catalyze a more productive home building sector. And for me, this isn’t about professional responsibility; this is a personal mission. For almost two decades, I’ve stood shoulder to shoulder with many of you on job sites, in council chambers, and in community halls, working to build a better housing future for Canadians.
That same determination is guiding my work as CEO. In these first weeks, I focused on being your champion in Ottawa, ensuring your voices and priorities shape what comes next, and that commitment will continue. I hope you’ve seen some of that in our investment framework policy. Already, we’ve laid a strong foundation, bringing together some of the best and brightest from the public, nonprofit and private sectors, and the best part, we’re just getting started. So, get your CVs ready. We’re ready, we’re starting to hire. So, at this point in time, I also like to recognize, I was employee number one. Employee number two, three, and four are here in the room. Jean Marand, Ruth Talbot, Braden Root-McCaig, and Dan Kostofsky, please get up—we’re more than four, don’t worry. But the number one to four is here in the room.
The Minister and I agree, Canada just doesn’t need another housing program. That’s not what we are. You’re not gonna have a bunch of boxes to tick, and we’re not gonna tell you what you’re gonna do. We know that what Canada needs is a housing delivery engine. That’s what Build Canada Homes is. A catalyst for change designed to move faster, think bigger, and deliver housing differently. And Build Canada Homes isn’t starting from scratch. We’re building on years of progress. And since 2017, the National Housing Strategy has now grown into $115 billion commitment over 10 years. Many of you have worked with many programs that has been available, ACLP, MLSLIC, all these programs that have been transforming lives through repairs, acquisitions, and new builds. Millions of Canadians have benefited. And beyond federal investments, provinces, municipalities, private developers, community housing groups, and philanthropic organizations, have all stepped up.
Build Canada Homes enters this landscape as a catalyst for change, complementing this strategy while driving a new era of delivery. Our mandate is very clear. Leverage public lands, deploy flexible financial tools, catalyze modern construction methods like modular and prefab, and buy Canadian to support local supply chains. But it’s more than just this. We’re using these tools to build capacity in Canada’s nonprofit housing sector, organizations that have proven they can deliver deeply affordable homes. At the same time, we’re putting private sector expertise to work, and attracting new capital to scale up delivery. This is how we become a catalyst for change, building more homes faster, and building the right mix of housing, including the supportive and transitional options that we need. This isn’t theory, it’s action.
Through the 2025 federal budget, Build Canada Homes has been capitalized with an initial, and I remind everybody, initial—I heard these words very, very clear from the Prime Minister’s mouth, as well, initial— $13 billion capitalization over five years. These investments will unlock thousands of homes, preserve affordability, and create new models of delivery. And with an opportunity this big, we’re moving fast. Our first quick start projects will deliver up to 4,000 new homes on six federal sites across the country. Four of these already have RFQs out on the street. The Acquisition Rental Fund will be launched early in the new year. And the $1 billion Transitional Housing Fund to support the most vulnerable, including women fleeing violence, and youth aging out of care. Should we start seeing results? We’re hoping in the very next few weeks.
But we’re not stopping there. We’re inviting partners, nonprofits, Indigenous organizations, private developers, to leverage their on-the-ground expertise, and bring forward shovel-ready projects that can start within 12 months. Bring us your proposals. We heard you. Government, get out of the way. That’s what we keep saying. Government, get out of the way. We got it. Give us our proposals. There’s no boxes to check. You know what we want. Affordable housing, creating capacity in the sector, and modern methods of construction. Now, like you go to any capital partner to attract their interests, to attract their funds, come to us, because we’ll be there to partner with you.
And because progress doesn’t happen in isolation, it happens when we work together. And that is why Build Canada Homes is listening deeply, and will continue to listen from every corner of our country. We know that no single organization can solve this challenge alone. Success depends on collaboration, government, industry, non-profits, Indigenous partners and communities working side by side. That’s why today, precisely at 10 a.m. —not that anybody was counting, or anything—we’ve launched our proposal portal two months after the organization was created. And we are inviting all of you, our partners, to bring forward shovel-ready projects that can start within 12 months. But we’re not gonna stop there. We are also seeking bold proposals for large sites and integrated developments that deliver housing at scale.
What we’re building together is bigger than any single project. Is the federal government stepping into a new way of delivering housing in Canada, one that aligns every piece of the puzzle? For decades, housing and infrastructure were treated as separate conversations. That has also changed. Today, we have a whole-of-government approach that brings housing and infrastructure under one roof. Because homes don’t happen without roads, transit or services. And I saw some municipal politicians, at least one, in the room, Councillor Morley. We know that perfectly well, correct? So, the federal government heard that loud and clear. And that is why now we have the Federal Ministry of Housing and Infrastructure that sets policy that drives major housing investments, but also the investments on infrastructure. We have the Canadian Infrastructure Bank that complements those investments with financing tools that unlock large-scale projects. We have CMHC that continues to focus on market housing and insurance, supporting private developers and lenders. And now we have Build Canada Homes as part of this conversation, as well. That fills the gap, unlocking deeply affordable housing by identifying and leveraging public land, but also deploying flexible financial tools, and catalyzing modern methods of construction. This is not duplication. It is coordination. It’s how we move from scarcity to abundance, and from incremental progress to transformational change. It’s systems designed to work for Canadians. When we say we’re building homes, we’re also building a framework that ensures speed, affordability, and sustainability for generations to come.
At Build Canada Homes, partnership is more than just a word. It’s an engine that turns urgency into progress, and progress into homes. Because here’s the truth worthy of the Empire Club: housing is not a problem to solve. It’s Canada’s greatest opportunity to lead. Our history proves what’s possible. We’ve built railroads. We’ve built cities and industries that shaped a nation. Now together, let’s build something even more powerful, homes and hope for generations to come. As Lester B. Pearson said, “The only failures are those who fail to try.” Canadians are ready to succeed, and together we will. The next chapter starts now. Let’s write it in lumber, Canadian lumber, Canadian steel, and into the strength of our communities and families. And when history looks back, let it say, “Canada led, Canada built, Canada delivered.”
Thank you for being part—I’m not done, I’m not done—thank you for being part of this movement. And I want to see all of you on a construction site near you, with my pink boots that Sean Gadden many years ago made sure I have. See you in a construction site near you. Thank you.
Nicholas Gefucia, Senior Vice President, EllisDon Community Builders, EllisDon
Good afternoon. I’m Nick Gefucia, I’m Senior Vice President in Affordable Housing with EllisDon. And EllisDon is proud to be a part of today’s event. It’s become clear to many people in this room that we need a better, faster way to tackle Canada’s affordable housing crisis. EllisDon Community Builders was created through a simple but powerful idea. That the private sector could bring the same scale, discipline and innovation to the non-market housing as we do to deliver major civic projects across Canada. Like many of the people in the audience today, we are driven by a shared sense of mission with government, non-profit and indigenous partners. Together, we need new scalable solutions to meet the country’s need for more non-market housing.
It’s why we’re so pleased to help support today’s conversation led by someone who understands policy, politics and public opinion. She brings a sharp, thoughtful lens to big national issues like housing. Please join me in welcoming Amanda Alvaro, who will lead our discussion with Build Canada Homes CEO, Ana Bailão.
Amanda Alvaro, Co-host, Beyond a Ballot
I really love this intro and extro music, don’t you? That was great. Hi everyone, so great to be a part of this conversation. Ana, I loved so much of what you said. There’s a lot to unpack, so let’s get into it. We’re gonna finish with a question from some of the students who are here today, so I’m excited to leave some room for that, as well. There were some words that kind of peppered through both your introductory remarks, some of the remarks that others have made, words like crossroads, challenge, and crisis. Increasingly more, we’re hearing the word crisis associated with housing in Canada. Are we in a housing crisis?
Ana Bailão
We’ve been on the housing crisis for a long time. I think the sense of urgency is more noticeable now. I started working on housing issues since 2010. And in my opinion, there was a housing crisis at the time already. More on one side of the spectrum. It was more on the social, supportive. It hadn’t caught up to what we now call the workforce housing. Now—and I often say, if somebody was to tell me in 2010 that governments had to interfere so that housing for families that make a household income of $90,000 would have to happen, I would say you’re out of your mind. You’re out of your mind. But that’s where we are today. And on top of it, right now, we have a housing sector crisis. Not only do people cannot afford, people cannot build. And that is—in certain markets, it’s not the same across the country, but in certain markets, that will be aggravating things even more. And there’s varied issues, you know, costs of construction, costs of taxes, the time that it takes, all these things.
So, what Canada Builds is doing is investing the public funds and public resources, and trying to build the housing that the market will not produce. The market will not produce, in terms of on their own. They’ll build it. They will not produce the transitional housing, the social affordable housing. And we need to make sure that we are doing the investments in that. And at the same time, be a catalyst, create that pipeline for the modern methods of construction, so that then the market can pick up and start using more of that, so that we at least can help solve a little bit of that.
I think it’s important to say, as well, Build Canada Homes is a part of a strategy from the government. We need other things to happen for the ecosystem to work. The infrastructure, the way that I talked about how we are now being coordinated under one ministry, is really important. But there’s other market tools that many in here have been working with different ministries and so on, that need to be part of the equation, as well. But we have an opportunity right now, because there’s a significant commitment from this government to scale up the affordable housing because we do as an OECD country, we have a very low percentage of non-market housing and affordable housing. And we can put a lot of the companies in the private sector to work, create some affordability, put them to work, because this is a huge economic issue for our country.
Amanda Alvaro
You talked about a spectrum of affordability. What does that mean? Affordable, when we talk about affordable housing, can you define that a little more for us?
Ana Bailão
So, at Build Canada Homes, we are defining affordability as 30% of medium income. And this was because of a few things. So, one of the things that many of us in the room had advocated on the National Housing Strategy was to be more regional responsive. The strategy had greater things, but because it was created on a national level, sometimes it was very hard to make work certain programs in Toronto versus Winnipeg, or Prince Edward County, or like whatever—because the economies are different. And so, we are using a definition of 30% of affordable housing, which uses local medium incomes to respond to that reality. So, across the spectrum, the housing spectrum, you have a cross of incomes. It doesn’t mean that a house that, you have a house income of $70,000, and you have another family that has $19,000. I think, I saw [Indiscernible]—the income, average income at Toronto Community Housing is $19,000. It doesn’t mean that these two families might not have affordability issues, because they might be having a way more than 30% of affordable housing. So, what we need to understand, and where we’re recognizing, is that there’s a spectrum, and that your income should not be spent more than 30% on shelter costs. And that goes from everything from the very transitional housing, the very social, all the way to workforce housing, fully, gainly and people employed that we need to work in our cities to make our cities work, that today is very difficult, just the way that we’re producing housing to create housing that they can’t afford.
Amanda Alvaro
You also said in your speech, you talked about the fact that Canada doesn’t need another housing program…
Ana Bailão
No.
Amanda Alvaro
…it needs a housing delivery engine. Tell us more about that.
Ana Bailão
Many of the people that have working here—and Marlene is here from the Ontario Nonprofit Housing Association—it’s tough to keep up with the programs, and make the programs work…
Amanda Alvaro
Yeah.
Ana Bailão
…and there’s already lots of programs. And I was one of those that have been advocating for the government, you need to let us create the partnership, the innovation that is gonna actually unlock the affordable housing. The projects that we see with private sector and nonprofit, and in some cases, the private sector on their own, and the nonprofit on their own, there’s innovation out there. But sometimes they don’t fit into a program.
Amanda Alvaro
Yes.
Ana Bailão
So now what we’re doing is saying, we have a few, you know, we need to have affordable housing. It is a definition of 30%. There’s a few little boxes that need to happen. But come with your innovation. Come with your proposals. We’re here to work with you, to unlock your proposals. And we have very different tools. We can have equity, we can be an equity investor in a project. We can provide guarantees. Our risk level is much higher than what any other federal agency was. We can provide loans. We can provide grants. We can provide bridge loans. There’s very different ways that we can come at the issue. And we’re also speaking with other organizations, with banks, with philanthropic organizations, to attract more capital into this with pension funds. We wanna make sure that we are not the only $13 billion. There’s gonna be other ones that are gonna invest with us, because, you know, this is a reality that affects everybody today. You keep hearing people that say their kids cannot afford a home where they grew up. And so, we wanna be a catalyst for that investment, and be a partner for the people that are developing the housing.
Amanda Alvaro
I think for a number of people in this room, the financing question is really interesting. It’s one of the three pillars. It’s on your website. On the website, it says “We provide long-term financing for housing builders.” Tell me more about that. Also, I think it’s interesting, you use housing builders, versus home builders. Tell me more about that as well.
Ana Bailão
Well. A home is just more than a building. It’s a….
Amanda Alvaro
Just more than one. Just more than one. And like the marital home that you’ll need with your new fiancé, wherever he may be.
Ana Bailão
Yeah. So, we will be providing. Like I said, we can provide loans, we can provide equity, we can provide—so we have different financial tools. And the other thing that I should mention, it can be stackable. Actually, we appreciate it to be stackable. We don’t wanna be the only ones on the occasion. We need to stretch those 13 billion. It’s an initial investment, but there’s only—13 billion, we all know. It sounds like a lot of money; I could be out of a job in a month. I did not have to leave this room—just with the people in this room, I can guarantee you, I would be out of a job in a month. So, everybody’s laughing, because everybody knows it’s true. So, we need to act quickly to be smart. We need to be innovative. And listen, it’s a bit of a challenge to all of you. We kept telling, government get out of the way. We know best. We innovate. We’re ready for your innovation. We’re ready for your partnership. All we have is a few things that we need. Affordable housing—we don’t even tell you how much affordable housing. We’re gonna be seeing who’s gonna bring us the best deal. Affordable housing. We need to create capacity in the sector. Make sure that you’re partnering out there with great nonprofits that are out there. And make sure that you’re using modern methods of construction. And we’re not dictating which modern methods of construction it is, as well. So, we want to see how creative this is, because we are ready to partner, to stack, to bring other partners to the table, and to get shovels on the ground. That’s what we’re gonna be there for. We don’t want you to just come in and check the boxes. We want to get shovels on the ground.
Amanda Alvaro
You said $13 billion, you could be out of a job, it’s not that much. But people have criticized it as an expensive program, an expensive investment for the government. What do you say to that criticism?
Ana Bailão
Expensive? Expensive is gonna be all the workers that these people have that don’t have a job pretty soon. That’s expensive for the government. The expensive will be where people don’t have opportunity, and can’t focus on their studying, on their health. Expensive is gonna have people in emergency rooms, versus being housed properly. That’s what’s gonna be expensive for governments. This is the cheapest way. The most economically and the smartest way to deal with a lot of issues that we have in our country, and to prepare our next generation for success.
Amanda Alvaro
Well said. So, every week I do a program on CBC called Power and Politics. And I think, I was saying this to some people in the audience, I don’t think a week has gone by in the last 18 or 24 months when the word housing hasn’t come up. But the word most associated with that is accelerating. There seems to be both a skepticism around how quickly this can happen—so when you talk about things like shovels in the ground, shovels in the ground, 4,000 more homes. For all of the skeptics out there who say this can’t happen quickly, what do you say?
Ana Bailão
We need to start. We have part of the equation. We’re gonna be investing hard on the modern methods of construction. We know, we’ve seen it, that it can accelerate. We also know that there’s gonna be huge pressure in the skilled trades coming our way. And so, we need to innovate in this way as well, to make sure that we’re prepared to have the production that we need. And therefore, that we have the adequate numbers. I mean, there’s only so much—I mean, LiUNA can’t go out there and bring people that they don’t have. So, we need to go to the other side of the equation and say, how can we change the way that we’re producing? Because there’s only a certain amount of people that we have, and there’s only a certain amount of timeframe.
Now, all this needs, there’s the way that you construct, and there’s the way that you approve. And so, that is another equation that needs to make sure that is sped up, and a lot of it is with conversations that need to happen around municipalities. And you know, we are gonna be coming in with some funds to work with municipalities, as well. Municipalities are very interested in also using their own land, and are coming to Build Canada Homes with their own proposals. And these are things that we’re gonna be putting on the table. Speed up the approvals process, but also being a catalyst for this industry, so we start creating the pipeline, and they can start producing faster and faster.
I know that there’s some manufacturing productions here—and I’m gonna say this, I’ve only been in the job for two months, but I don’t think there’s a factory, a manufacturing plant out there that is producing at capacity right now. Am I wrong? No. I don’t think anybody is producing at capacity right now, because there’s not a pipeline. And the more they produce, the costs and the timing is gonna be reduced. And that’s why we need to make sure that through the good investment that we need, that we start creating that pipeline, so that eventually, everybody has access to that cheaper production of housing and quicker production of housing. Using Canadian lumber and Canadian steel.
Amanda Alvaro
I have a question about that, but before I get, you paused a little on approvals. Do you expect, if you were to think of what the bottlenecks could be, and alleviating some of those, is this one of them for you with the municipalities?
Ana Bailão
So far, the municipalities that we’ve been working have been very open, and ready to work. It’s always….
Amanda Alvaro
We struck one.
Ana Bailão
We’re gonna be developing, like many of you. So, it could be, it is something that we need to keep in mind that we’re gonna be working closely, as well. But sometimes it’s also the infrastructure.
Amanda Alvaro
Yes.
Ana Bailão
And that’s why it is so crucial, that connection that we now have with infrastructure funding, because municipalities need to have the infrastructure so we can come and create the housing, as well. And that connection is really important for the municipalities. And sometimes, it’s not their own fault, as well. We need both to work hand-in-hand.
Amanda Alvaro
Okay, I’m gonna stay on this for a minute, because you sat on city council, you ran for mayor, it’s recognized across the country that Toronto seems to be a market that’s very difficult to fix. How in this market can Build Canada help?
Ana Bailão
Build Canada, I think there’s a great opportunity. We have an incredible nonprofit housing sector that is ready to get going, but we have an incredible private sector as well, that has projects ready to go. Probably all the development industry in here has some project that they could get going on the next 12 months. So, who actually wants to get those projects into modern methods of construction, get some affordable housing in there, wants to be creative, and wants to get shovels on the ground? We’re ready to partner, we’re ready to receive the ideas. So, that’s how we can help in this very, very difficult market. We’re not gonna end, it’s not gonna be the solution for everything, there needs to be more tools, but we’re part of the conversation. And our mandate actually dovetails with some of the work that I’m sure you’re all anxious to get going, and get done.
Amanda Alvaro
You used Buy Canada, we’re all talking about Buy Canada. Just yesterday, the Prime Minister made another announcement, sectoral supports for both the steel and softwood lumber industry. What is the intersection here between those supports for that industry, and what you’re trying to do in your role?
Ana Bailão
So, obviously, we did some math. John, do you remember the numbers? Seven, no, just on the….
Amanda Alvaro
I’m not on the stage.
Ana Bailão
So, it was actually part of the, because we are gonna be pushing hard for Canadian lumber, and houses will lose different levels of Canadian lumber, so we average it out. So, for about $700 million that we said, if we put out $700 million next year, there would be an implication for closing between 70 and 120, if I’m not mistaken, that was the number, it’s around there, that could translate for the industry in work for the industry. So, as we are investing, we need to be smarter about how we’re investing. We’re investing affordable housing, and we’re being a catalyst for the modern methods of construction. While we’re doing that, let’s make sure that we are buying our own products, that we support the industries local. So, this investment that is happening at affordable housing, talking about, talk about an expense. Look at how much benefit we’re getting out of it. Not only are we solving all those problems, now we’re being a catalyst for an industry, and we are actually supporting industries that because of the situation that we are, desperately need our support. And we need to think as a country, it’s a build Canada. So, we need to have more of these policies, and that’s what we’re gonna be part of working with the government, and we received the orders from the prime minister, obviously, and the minister. And so, this is a big mandate that we have, and that we’re gonna be looking at all the proposals as the Buy Canadian.
Amanda Alvaro
When those who may be watching, listening, referring back to this interview, and they’re feeling really discouraged about the idea of ever owning a home, owning an affordable home, or their children owning a home, get personal for a minute and tell us, what does that look, what does your work look like 5 to 10 years down the road?
Ana Bailão
Well, we certainly hope to have scaled up and non-market and affordable housing. That’s part of the equation…
Amanda Alvaro
Yeah.
Ana Bailão
…and that it will include—and I’m gonna hear a clap right now, because he’s in the room—includes affordable home ownership. I told you. But it also means that through the work that we’ve done, we’ve been able to be a catalyst for an industry that is gonna help the market in general, that the market is gonna be able to reduce the cost of production, through that work that we’re doing, to have more modern methods of construction as part of their building, and other initiatives that the government is gonna have as well. And so, we will have people being more able to afford a home. But we are doing both. We’re doing rental, and we will be trying to work on some programs for affordable home ownership, and have an impact on how we build in this country.
Amanda Alvaro
You talked in your speech about 4,000 homes being built. What does this look like though? Like, when all is said and done, when this 13 billion is spent, this initial funding is spent, what does it look like?
Ana Bailão
Can I start by saying that it’s not 4,000 for $13 billion? Because when…
Amanda Alvaro
Okay. Tell me.
Ana Bailão
…when Build Canada Homes—can we start by saying that?
Amanda Alvaro
Yes.
Ana Bailão
We’re not gonna do 4,000 homes with $13 billion. So, what is happening, as well, is Canada Lands is coming under Build Canada Homes. So, they have sites, surplus sites that they are now owned. And so, we are gonna have those sites to build affordable housing. The first initial 6 sites are gonna produce up to 4,000 units. And those are already, like, site servicing is being done in some of them. Four of them are have RFQs out, and we’re well underway. There’s another 18 properties that we are now prioritizing and looking through, that we’re gonna be developing, as well, for affordable housing. And believe me, if there’s—the prime minister is so committed and the ministry to have an accelerated way to get us more land, we’re gonna have a lot of land. Believe me. From the way I, what I saw and what I heard, we’re gonna have land coming our way, in terms of surplus. It’s a priority for this government, not only the financial side, but also the land, making land available for us to be able to build. So, we’re working on the first fronts. So, these are all projects that will have shovels in the ground next year.
Amanda Alvaro
You showed a picture of the portal, the portal that went up at 10 a.m. this morning. What are you looking for from this room? What kind of projects are the projects that are gonna be the projects that get the first green light?
Ana Bailão
So, there’s two kinds of projects. One is, we have a billion dollars for transitional housing. So, we were gonna be—and there’s a desperate need. You walk out the street, and you can’t ignore the need, immediate need for transitional housing. So, we’ve been in conversations with cities, as well, and with provincial governments. Because we need the operating and wraparound services for that. So, we are gonna be looking at transitional housing. We wanna get those out the door as soon as possible. A lot of municipalities also have experience in creating transitional housing using modular. So, it actually, there’s experience, there’s a comfort level. We know we can get these going.
The other thing is, what projects are ready over the next 12 months? And some of the conversations might lead into even larger portfolios, because that’s one of the conversations we wanna make sure that we lead into, but that are ready over the next 12 months, that create affordability. And we’re gonna be looking at who was able to provide the highest amounts of affordable housing using the modern methods of construction. What kinds of partnerships, what kinds of innovation are coming in? So, we’re gonna be looking through that through the portal. And there’s really interesting partnerships that are starting to, we’re hearing through, questions that are being asked, and I’m very hopeful. I just ask one thing of this room: we’re moving fast, we have been in existence for two months, and we have opened the portal, but we’re still staffing up. And I hope that you take that in consideration. The model that we want is a model of partnership and cooperation. But if you don’t get an email back following day, please take that in consideration. But we are here to partner with you, and to work with you.
Amanda Alvaro
Love that. Are you able to give, you said there’s a couple of creative partnerships that are sort of percolating. Are you able to give an example of what that looks like?
Ana Bailão
Oh my god, no, no, no. That would be giving out the secret.
Amanda Alvaro
No? Okay. Fine. No secrets on this stage. That’s fine.
Ana Bailão
But you know what? There are examples of many partnerships that have been done in different parts of the country that have created affordable housing between private and nonprofit, between private sector on their own. It’s just been so hard. We wanna make that a lot easier, and so that we can move faster, and we can scale that up. And we can start working in portfolios, so people are not going every time they have a partnership, they go once and they apply, and they check the boxes,, and they check all that and the credit gets checked, and everything gets done. So, we don’t do that and we start creating portfolios and we go through a process that is very different from we have today.
Amanda Alvaro
Are you replicating a model that you’ve seen work elsewhere? Is there a jurisdiction that’s done this really well?
Ana Bailão
I’m replicating—no, I am executing on the vision from the prime minister, to be honest with you. He’s so committed, the prime minister, and the minister in this government. They’re so committed to putting this into execution, to scaling the affordable housing, and to make sure that there’s a catalyst for this industry. And that has been what allows us to move this so quickly. We know when Build Canada Homes comes around, right, to any department, everybody is ready to work with Build Canada Homes, because everybody knows this is a major and key priority for this government and the prime minister.
Amanda Alvaro
I wanna talk about you for a moment, because we’re gonna run out of time. You said this is your personal mission. There’s a pretty powerful statement.
Ana Bailão
M’hm (affirmative).
Amanda Alvaro
How did you, you went from city council, running for mayor, you took a step away from a political life, in order to take on this role. Why this area, why this issue, and why is it your personal mission?
Ana Bailão
Okay. Psychotherapy here, a little bit.
Amanda Alvaro
It’s for the podcast, as well.
Ana Bailão
Two things, it’s two things. I first believe that this is, there’s no more defining issue for our country than housing, because it defines the opportunities that people have. It defines our economy. Like, how do we go out there and attract investment, if we don’t have the human capital that wants to come and live here? So, aside from being, I think, a crucial economic driver and social driver for our country…
Amanda Alvaro
Yeah.
Ana Bailão
…for the country that we love, with the values that we love, I think personally, as well, it’s been something that always touched me. My parents had to come to Canada because they had bought a condo, and they couldn’t afford, really, to buy a condo. And for me, at a 12 year old, not seeing your parents for a couple of years, it was something that was, housing is always important. It’s like, oh, you know, there’s nothing more important. You know, kids might not see their parents for a couple of years, if housing is not there. So, for me, it’s always, it’s a driver, right? I got into politics to get these kinds of things done, not because I love politics—sorry if I disappointed anybody. It’s what I can do, right? And so, when this opportunity came—and it’s funny, and many of you in the room have heard me say this, in 2010 when I got elected, everybody criticized me for start working on housing, because everybody’s like, this is a, “There’s no win, what are you doing? Nobody votes on housing. What are you talking about? You’re spending so much time.” I got some of those calls now saying, “What are you doing? There’s no win in this issue. This is horrible.”
Amanda Alvaro
You got those calls, after getting a call from the prime minister to take the role?
Ana Bailão
There was people that care about me. You know, it’s a big challenge.
Amanda Alvaro
Yeah.
Ana Bailão
But somebody has to do it.
Amanda Alvaro
Yeah.
Ana Bailão
And if we don’t try, we don’t know if we succeed. And I wanna give it a try.
Amanda Alvaro
Okay, six, I have a few minutes before I have to turn it over. Success. What does success look like when this is over? Can you confidently say….
Ana Bailão
Oh, this is not over. This is here to stay.
Amanda Alvaro
Can you confidently say, though, that the work that you’re doing is going to help alleviate where we started, which was the crisis, the housing crisis in Canada. Do you believe that this work, the mandate, the investment, the people in the room, do you believe that we can confidently say to this younger generation, who’s about to ask the question about will they be able to afford a home, that we’re able to get there with this promise, with this plan?
Ana Bailão
I absolutely, I am part of the puzzle. You know that puzzle that I showed you that we have the Ministry of Housing and Infrastructure? We’re building those communities, and we need the housing policy, the infrastructure money, the housing money, the Canadian Infrastructure Bank to come, the CMHC to come, and continue to build more market housing, to work more market housing. I wanna be able to be affecting and touching less and less of the housing spectrum. I want to have the market to be able to produce the housing for some of the housing right now that I’m gonna have to get involved to produce that workforce housing. So, success is gonna mean that we’re gonna have bigger share of the housing numbers for affordable housing, non-market housing, and supportive housing. But also, that the industry has picked up, that the market has picked up. And that, I’m part of it, but that’s what success would look like.
Amanda Alvaro
What do you need from the private sector to get there?
Ana Bailão
I need their innovation. I need their advice. I need their partnership. And I need them to give us the opportunity to work with them, as I’m gonna give them the opportunity to work with us.
QUESTIONS & ANSWERS
Amanda Alvaro
We are going to throw it to a question from, I think it’s a video question from one of the students in the audience.
Jaspreet Kaur Grewal (by video)
Hello, my name is Jaspreet Kaur Grewal. I’m an MBA student at Osgoode Hall Law School in the Schulich School of Business. My question is, given the housing shortage, what tools or strategies do you believe will best ensure that new housing growth is matched by the development of complete, well-serviced communities, access to schools, parks, transit, groceries, healthcare, and other essentials?
Ana Bailão
Great question.
Amanda Alvaro
Great question.
Ana Bailão
I think we touched on a few things.
Amanda Alvaro
M’hm (affirmative).
Ana Bailão
And going back to the private sector, before I start this, I just….
Amanda Alvaro
Yeah.
Ana Bailão
Because I just wanna say the success of Build Canada Homes is the success of everybody in this room.
Amanda Alvaro
Yeah. I agree with that.
Ana Bailão
Because if Build Canada Homes doesn’t succeed, it means that people here are not succeeding. And that’s a much bigger issue. So, with regards to this question, I think what we’re doing in making sure that the infrastructure money is flowing, that coordination that needs to happen, very important. Also the work that we need to do with our provinces and our cities. It is so frustrating for people that wanna work, that work on housing, the lack of communication and coordination between governments. It is probably one of the things that frustrates the most everybody in this room. And I think the more alignment we can create—and I see Build Canada Homes as trying to help with that, because we’re gonna be in the trenches right now, with everybody else, because we’re developing land, we’re working with partnerships. But at the same time, we’re at the table with the federal government and provincial government. So, we are gonna be really strong advocates for the sector, both the nonprofit—but some of these challenges, some of these barriers, we’re not gonna be able to solve it all, but we’re gonna be a strong voice in there. And that coordination, that cooperation that needs to happen with three levels of government, and that priority that needs to be given to infrastructure and housing is crucial, and the coordination between the two. It’s not about just building the housing…
Amanda Alvaro
Yeah.
Ana Bailão
…is building the communities and creating the opportunity for people to succeed.
Amanda Alvaro
For sure, I’m gonna add on a little—I have two minutes, I can do it—her question, specifically, around things like green spaces and creating community, how do you, when you’re looking at projects, when you’re asking people to bring projects in through the portal, is this part of the consideration, as well, that these projects are considering the community aspect? Or is this like, we just gotta get houses built right now?
Ana Bailão
No, no, we’ll consider, we’ll consider proximity to transit, we’ll consider, you know, the need of—we wanna do good development. So, if you’re gonna bring single-family homes between a, beside a subway station, we’re not gonna, we’re not gonna work with you. We wanna make sure that it is, it is leveraging what we need, it is close to transit, because there’s an affordability that comes with that. But also, that responds to the needs of that community.
Amanda Alvaro
Yes.
Ana Bailão
So, we’re gonna actually be looking at numbers very closely. What kind, what’s the deepest need in Winnipeg? Where do we have to act the most in Winnipeg versus Toronto? It’s different. I don’t have to act as much on the workforce housing in Winnipeg, as much as I still have to do here in Toronto. There’s a lot of investment that we need to do in the transitional and social housing in that city. So, we are gonna be looking at what, where do we need to act the most in certain parts, and have projects that respond to that, as well. Absolutely, we will.
Amanda Alvaro
Ana, thank you so much. It’s so exciting to talk to you. I hope we get to be back on this stage a year from now, to talk about all those shovels in the ground. And thanks to everyone for listening. It’s a wonderful discussion.
Ana Bailão
Thank you.
Saurabh Popat
Thank you so very much, Ana and Amanda, for a thoughtful and energizing conversation and a critical one for our country. This is exactly the kind of dialogue we hope for at the Empire Club of Canada. I also want to thank everyone here for joining us. Your engagement keeps these conversations meaningful, and reminds us why this work matters to all of us.
To close our event, I’m pleased to welcome Janice Myers, CEO of CREA. CREA has been a valued partner in helping Canadians understand the changing dynamics of our housing landscape, and we’re grateful to have their support here today. Welcome, Janice.
Note of Appreciation by Janice Myers, CEO, CREA
What a terrific conversation. You know, having spent more than two decades in the Canadian real estate industry, it’s just so encouraging to see a real shift in ambition to tackle the housing crisis—and yes, it has been a crisis for a long time. Across the country, housing is finally being recognized as a basic human right, an economic driver, and the connective tissue of our communities. And it’s inspiring to see that reflected in the rooms today and listening to you, Ana. As we’ve heard, the leadership of Build Canada Homes is in capable hands. Thank you, Ana, for taking on this challenge at this critical time. We’re encouraged by the federal government’s strong commitment, not only through financial investments, but also through innovative partnerships, and support for new and emerging building methods. And I loved how many times you used the word catalyst. And you know, I am watching you, and thinking of all the things that you’ve said in terms of your collaborative nature, your determination, your vision. And we’re gonna be watching, and cheering you on.
So, we know that affordability is the challenge for Canadians seeking safe and stable homes. Building the Canada we want today and for the future demands the ideas and involvements of all levels of government, industry, community, organizations, and civil society. And that, as Ana said, is when Canada will win. As a country as diverse as ours, it deserves the housing that reflects diversity for growing families, recent graduates, seniors in transition, and for those who found themselves falling on hard times.
At the Canadian Real Estate Association, we rally around one purpose, opening doors to thriving futures for all, beginning with home. No one should slip through the cracks. Thank you for your dedication, this meaningful work, Ana. And thank you to the Empire Club for hosting such important conversations. We look forward to continuing to collaborate on the future of housing in Canada. Have a great afternoon, everyone.
Concluding Remarks by Saurabh Popat
Before you all go out there and get shovels in the ground, if you can indulge me for a few more minutes, I just wanted to thank again our panellists, sponsors, and of course all of you, for joining us here today. I’d also like to take a moment to recognize the students and young leaders joining us here today. Their presence is made possible through the charitable arm of the Empire Club Foundation, and the generosity of our donors.
To stay connected, please subscribe to our newsletter by scanning the QR code on your tables. I also hope that you’ll join us for two exciting and important upcoming events. On January 22nd, Alto President and CEO Martin Imbleau will outline the bold high-speed rail vision set to connect 60% of Canada’s population, and deliver billions in annual economic benefits. And on February the 5th, we’re very excited to have the Bank of Governor, Tiff Macklem, deliver his first major speech of 2026. Tickets for both events are now on sale.
And as always, as a club of record, all Empire Club events are available to watch and listen to on our website. The recording of today’s event will be available shortly. Thank you all for being here today. This meeting is now adjourned.
