3 min read
04 April 2024

Statement from WoodGreen’s Vice President of Housing & Homelessness Services Mwarigha on the federal government’s $15 billion top up to Apartment Construction Loan Program (ACLP)

Toronto, ON – WoodGreen Community Services welcomes the federal government’s pledge to invest a $15 billion top up to the Apartment Construction Loan Program (ACLP), formerly the Rental Construction Financing Initiative (RCFI). The program now aims to finance the construction of over 131,000 new rental units in Canada by 2031-2032.

It is promising to hear the federal government also intends to reform eligibility requirements for the ACLP by extending loan terms and access to financing to include housing for seniors, especially given the rapidly growing aging, low-to-moderate income population who will need affordable housing options.

While we support further investment and eligibility reform, WoodGreen calls the federal government to take this one step further by pledging to improve communication and collaboration between ACLP and the Affordable Housing Fund, former the Co-investment fund, which is the financing pathway to support non-profit developers.

Currently, there is no financing pathway for non-profits to partner with private developers to create affordable housing, including funding non-profits in purchasing segments of buildings from private developers as affordable units. Removal of eligibility barriers between the two programs will enable flexibility in qualifying private and non-profit partnership models needed to scale affordable housing and achieve the goal of developing mixed-income communities.

WoodGreen also urges the federal government to reach an agreement with the Ontario government to incorporate a carve-out within the $5 billion commitment for affordable housing. This carve-out would support non-profits to facilitate the expansion of affordable housing in extremely expensive rental markets. This additional requirement will enhance the effectiveness of a provincial plan that utilizes surplus or underused land and cuts approval timelines to support the development of homes where rental tenants spend no more than 30 per cent of their income. We cannot continue to have a siloed system of housing. All three levels of government need to be on the same page with blended and collaborative plans.

Overall, this investment today could lead to the construction of 17,000 new rental units in Toronto. WoodGreen is eager to partner with all levels of government and private developers to deliver these deeply affordable rental units. We therefore pledge to continue to work with all levels of government to introduce further solutions that can accelerate the supply of affordable rental housing.

WoodGreen — with close to 1,500 deeply affordable housing units — is one of Toronto’s largest non-municipal affordable housing providers, offering safe and affordable homes to seniors, newcomers, youth, individuals with disabilities and people with a long history of homelessness. Our organization has an ambitious plan to own and/or manage 3,000 units within the next ten years.

ABOUT WOODGREEN COMMUNITY SERVICES (woodgreen.org):WoodGreen is one of the largest social service agencies in Toronto, serving 37,000 people each year. We offer over 75 programs and services tackling the social determinants that affect the health and well-being of individuals in our community.


For more information or to arrange an interview, please contact:

Jen Mayville, Senior Communications Manager;[email protected]; (437) 226-8091 (cell)