British Columbia is seeking equal access to nearly $9 billion in federal funding offered to Ontario for municipal infrastructure and housing development charge reductions. The funding aims to boost condo construction and address housing supply issues. Ontario also received a temporary HST waiver on new homes under $1 million. British Columbia wants similar support but may use funds differently and has not committed to matching federal contributions due to its budget deficit.

Canada faces a housing shortage and urban sprawl, but brownfield redevelopment offers a solution by transforming contaminated, underused urban land into mixed-use communities. These sites have existing infrastructure, reducing costs and environmental impact. Challenges include high remediation costs and regulatory hurdles, requiring enhanced public-private collaboration, tax incentives, expedited approvals, and dedicated funding. Brownfield redevelopment supports sustainable, dense urban growth and housing supply goals.

Nationally, Canadian home prices fell 0.3% to $665,200 in January, down 21.8% from the March 2022 peak. However, most provinces saw price increases, with Newfoundland and Quebec reaching new highs. Declines were mainly in BC and Ontario, where prices dropped 0.9% and 0.5%, respectively, reflecting weak demand and high inventory. Ontario experienced the largest correction, down 26% since early 2022.