Canada and Province announce funding for 29 rental homes in Ashcroft

ASHCROFT, BC, Nov. 18, 2025 /CNW/ – Changes in the global trading system are causing massive disruptions and uncertainty for Canadians. The world has changed, and Canada’s economic strategy must change.

Budget 2025: Canada Strong
 is our plan to transform our economy from one that is reliant on a single trade partner to one that is stronger, more self-sufficient, and more resilient to global shocks. This budget is a plan to enable $1 trillion in investments over the next five years. This is a plan for Canada to give ourselves more than any foreign government can take away – a plan to build Canada strong.

Central to that plan is building – major infrastructure, millions more homes, and strong communities. To that end, the Government of Canada launched Build Canada Homes which will help double the pace of homebuilding over the next decade to increase housing supply, alongside other measures. It will also transform public-private collaboration and deploy modern methods of construction as it catalyses the creation of an entirely new Canadian housing industry. This new federal agency will build affordable housing at scale, including transitional and supportive housing, deeply affordable and community housing, and affordable homes for the Canadian middle class. 

As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working together with the private and non-profit sector to bring down costs and build homes at a scale and pace not seen in generations. These investments are also providing Canadians with increased access to affordable and sustainable housing. 

Today, the federal government, along with the Province of British Columbia, announced nearly $900,000 in joint funding through the Canada-BC Bilateral Agreement under the National Housing Strategy to help build 29 secure, affordable rental homes for independent seniors living in Ashcroft. Called Thompson View Residences, located at 710 Elm St., they include a mix of one and two-bedroom suites where seniors will have a comfortable home to age in place.

The past year has revealed there are limits to Canada’s economic independence. Budget 2025 is tackling that challenge head on. It is our plan to take control and build the future we want for ourselves. It is our plan to build Canada Strong.

Quotes:

“Our Government is proud to support this initiative, part of our ongoing efforts to build strong, affordable communities across the country. The Thompson View Residences will make a real impact on the lives of seniors living in Ashcroft, and it’s another step forward in our bold, ambitious plan to build Canada strong.” – The Honourable Stephen Fuhr, Secretary of State, Defence Procurement and Member of Parliament for Kelowna, on behalf of The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada

“Seniors deserve safe, affordable homes where they can age with dignity and stay connected to their communities. This partnership reflects our commitment to working with all levels of government to build housing people need, faster. Together, we’re working to make life more affordable and ensuring every British Columbian has a place to call home” – Honourable Christine Boyle, Minister of Housing and Municipal Affairs, Province Of British Columbia

“The 29 new homes in Ashcroft will mean more of our seniors can remain in the community where they have worked, raised families, volunteered, and forged connections. Thank you to the federal and provincial governments, BC Housing, and Interior Health for this affordable seniors’ housing.” – Mayor Barbara Roden, Village of Ashcroft

Quick Facts:

• The National Housing Strategy (NHS) is a 10+ year, $115+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives are updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. The Housing and Infrastructure Project Map shows affordable housing projects that have been developed.
  • As of June 2025, the federal government has committed $69.62 billion to support the creation of over 170,700 units and the repair of over 322,300 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.
  • NHS is built on strong partnerships between the federal, provincial, and territorial governments, and continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private housing sectors. This includes consultations with Canadians from all walks of life, and people with lived experience of housing need.
• All NHS investments delivered by the federal, provincial, and territorial governments will respect the key principles of NHS that support partnerships, people, and communities.
• Funding for this project includes:
  • $4.7 million from BC Housing through a Community Housing Fund grant and $706,843 for annual operating funding
  • $887,000 in joint funding through the Canada-BC Bilateral agreement under the National Housing Strategy
  • $240,000 land equity from Interior Health

Additional Information:

• Visit canada.ca/housing for the most-requested Government of Canada housing information. 
• Learn more about BCH
• CMHC plays a critical role as a national facilitator to promote stability and sustainability in Canada’s housing finance system. Our mortgage insurance products support access to homeownership and the creation and maintenance of rental supply. We also actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Follow us on X, YouTube, LinkedIn, Facebook and Instagram. 

SOURCE Canada Mortgage and Housing Corporation (CMHC)