The Government of Canada has announced a landmark investment of over $763 million to support Grosvenor’s Brentwood Block development in Burnaby, BC. Delivered through the Apartment Construction Loan Program (ACLP), the funding will fast-track the construction of nearly 1,300 new homes, marking a significant step forward in addressing Canada’s housing supply challenges.
“We need to build more, build better, and build bolder,” said Minister of Housing and Infrastructure Gregor Robertson. “Through investments in rental housing, our government is supporting those who need it most—here in British Columbia and across the country. We are committed to strengthening communities through initiatives like this one.”
Brentwood Block is a multi-phase, master-planned community that spans 7.9 acres—an entire city block in Burnaby’s urban core. Once complete, the development will deliver 1,279 purpose-built rental units, 451 condominiums, and 160,000 square feet of retail and commercial space. The site will also feature a new City of Burnaby community centre, public plazas, and outdoor amenities designed to foster inclusive, vibrant urban living.
The ACLP, a $55 billion initiative under Canada’s National Housing Strategy, provides low-interest, fully repayable loans to stimulate the construction of purpose-built rental housing for middle-income Canadians. As of June 2025, the program has committed $24.9 billion toward the creation of more than 63,500 rental homes nationwide.
“The Government of Canada is committed to working with our partners to rise to the challenge of building more housing,” commented Randeep Sarai, Secretary of State for International Development. “Through the ACLP, we are taking action to increase the supply of new rental housing by investing more than $763 million in the construction of nearly 1,300 homes in Burnaby. This is more than just construction—it’s about creating opportunities for individuals and families to thrive, grow, and build their future with stability and dignity.”
Burnaby Mayor Mike Hurley welcomed the federal support, emphasizing the importance of collaboration: “Burnaby continues to set an example for how cities can lead by working hand in hand with all levels of government and the development community to create new, affordable homes. This federal investment is essential to ensuring projects like Brentwood Block can move forward and reflects the kind of partnership that will move the needle on housing costs in Burnaby.”
“Our longstanding partnership with CMHC is a cornerstone of this project,” added Steve O’Connell, Senior Vice President at Grosvenor. “The ACLP is key to its viability, facilitating the private sector’s role in contributing much-needed rental housing to Canada’s undersupplied markets. Once complete, we look forward to activating our residential homes as an integral part of a sustainably driven, pedestrian-focused master plan—connecting thousands of new residents in the heart of Brentwood with the wider Metro Vancouver region. Brentwood Block continues Grosvenor’s 350-year tradition of developing high-quality residential properties that serve their local communities.”
