The federal government announced it has committed over $52 million to support the construction of Brightwood, a new six‑storey rental community now underway at 150 Wissler Road in Waterloo, Ontario. Comprising 128 rental homes, the funding was delivered through the Apartment Construction Loan Program, reinforcing Canada’s broader effort to accelerate homebuilding and expand options for middle‑class renters.
Brightwood is being developed by Killam Apartment REIT and is designed to offer residents “a blend of comfort, convenience, and community.” The building includes a ground‑floor commercial retail space, a fitness room, a common room, and an outdoor amenity terrace. Its location places it within easy reach of major employment areas, the Manulife Sportsplex, transit options, and Conestoga Mall.
“Killam is proud to open Brightwood and welcome residents to this new community in Waterloo,” said Philip Fraser, President and CEO, Killam Apartment REIT. “Projects like this are an important part of increasing the supply of purpose-built rental housing and giving more Canadians access to quality homes. We value the partnership with the Government of Canada and CMHC in helping make this development possible.”
Brightwood also aligns closely with Waterloo’s Housing Action Plan, an ambitious strategy that includes streamlining municipal permitting, supporting intensification near transit, and rezoning certain employment lands to allow residential development. These efforts have earned Waterloo its third installment from the Housing Accelerator Fund—nearly $6 million—recognizing the city’s progress in cutting red tape and enabling faster construction.
The federal government’s investment in Brightwood is part of a larger national strategy to strengthen housing supply while supporting economic growth. Through the ACLP, Canada is providing $55 billion in low‑cost financing to encourage the construction of more than 131,000 new rental homes by 2031–32. As of December 2025, the program has committed $29.45 billion in loans to support over 74,600 rental homes across the country.
“This project will create more rental homes for people living and working in Waterloo and is an example of what’s possible when we work together in partnership with the private sector,” said Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada. “This is another step forward in our bold, ambitious plan to build Canada strong.”
