New federal initiative aims to address housing crisis with public lands

The Canadian federal government has added 56 unused government properties to a new public lands bank, aiming to boost affordable housing. Housing Minister Sean Fraser announced this initiative on Sunday, ahead of a cabinet retreat in Halifax.

These properties, including former military bases and federal office buildings, will be offered for long-term lease to developers, a shift from previous plans to sell them outright. The goal is to lower construction costs and ensure that new housing remains affordable.

Initial construction could begin by mid-2025, with five properties already moving to the development phase.