On October 14, 2025, the federal government announced an investment of over $763 million into Grosvenor’s Brentwood Block for the construction of nearly 1,300 housing units in Burnaby through its Apartment Construction Loan Program (ACLP).
The announcement was made by the Honourable Randeep Sarai, Secretary of State for International Development and Member of Parliament for Surrey Centre on behalf of the Honourable Gregor Roberston, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, alongside Councillor Pietro Calendino, City of Burnaby, and Steve O’Connell, Chief Executive Officer of Grosvenor’s North American Property business.
Brentwood Block is a multi-phase master plan community located on a 7.9-acre site that encompasses an entire city block in the heart of Brentwood. When complete, the project will provide 1,279 rental units, 451 condominiums, and 160,000 square feet of retail and commercial space. Additionally, the site will be home to a new City of Burnaby community centre, extensive public plazas and outdoor amenity spaces.
The Government of Canada is stepping up with unprecedented investments to increase the housing supply in Canada through programs to deliver on solutions across the housing continuum. One such program is the Apartment Construction Loan Program (ACLP), which provides fully repayable low-interest loans to encourage the construction of more rentals for middle-class Canadians. It creates a positive impact to the housing system at minimal cost to taxpayers.
The federal government also launched Build Canada Homes in September as part of their broader effort to build more affordable homes. As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working with the non-profit sector to bring down costs and build homes at a scale and pace not seen in generations.
In case you missed it, here is a collection of recent press coverage highlighting this announcement. Explore the articles below:
