Story perspectives

Canada Invests $763M in New Rental Homes in Burnaby

10/15/2025

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Summary

Story summary

The Canadian government announced a $763-million investment to build nearly 1,300 rental homes in Burnaby, B.C., through the Apartment Construction Loan Program (ACLP).
The project is led by Grosvenor and will include Western Canada’s tallest all-rental tower.
The ACLP is part of a broader strategy to finance over 131,000 new rental homes across Canada by 2032.
The Brentwood Block development will feature 3,500 homes, including 2,450 purpose-built rentals.

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Story summary

The Canadian government announced a $763-million investment to build nearly 1,300 rental homes in Burnaby, B.C., through the Apartment Construction Loan Program (ACLP).
The project is led by Grosvenor and will include Western Canada’s tallest all-rental tower.
The ACLP is part of a broader strategy to finance over 131,000 new rental homes across Canada by 2032.
The Brentwood Block development will feature 3,500 homes, including 2,450 purpose-built rentals.