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it and say the returns make sense. There’s no doubt it’s going to get stalled projects moving forward.”
affordable housing options in the same neighbourhoods available.
The hope is that this program will extend beyond Ontario, in particular, to British Columbia, where development charges are also a pressing issue. WHAT TO DO ABOUT OLDER RENTAL STOCK Tony was one of the speakers at the conference on a panel exploring How to maximize the potential of Western Canada’s current rental housing stock, in particular, the intersection of new supply versus aging stock. According to the CMHC, after record gains in 2024, rental stock continued to expand in 2025, with completions running well above historical norms, particularly in Calgary, Edmonton and Montréal. But there is also a lot of older stock that needs to be modernized to remain in service as rental apartments, and this is an area fraught with difficulty, says Tony. “The cost to modernize these aging units is immense. In rent-controlled markets, there are challenges in terms of how you pay for it. Even in markets that are not rent-controlled, affordability is always an issue. How do we square both sides?” Ultimately, the work has to happen. But there’s a positive sustainability angle: making buildings more efficient makes sense from an environmental perspective and enables the use of cleaner and more efficient technology. The problem of modernizing ageing stock will only become more pressing. The older a unit gets, the more major infrastructure repairs are needed, and there are fewer
It’s incredibly difficult for existing tenants, who must be housed elsewhere while the work is underway. Tony argues that landlords need to come up with a way to help tenants through the change without making the project financially unviable. There is a need to “have a framework and rules” around how this is done to “acknowledge residents’ concerns” and “offer them a transition plan that allows them to return to the new units”. Unfortunately, says Tony, there is often a lack of trust between operator or developer and tenant. The relationship is “often problematic”. “There’s no perfect way to deal with these things. I know that’s easy for someone who isn’t impacted to say, but I think you do have to look at the broader picture at some point. It has to be about more than just the individual people. “We’re all working towards a shared goal, which is to ensure that we have the housing we need for Canadians going forward and to ensure that we have good rental housing, which is a vital part of the housing continuum.”
Advancing rental housing solutions: How to optimize the existing supply
Tony Irwin President & Chief Executive Officer at Rental Housing Canada
“People ask me: ‘What are the issues that stand in the way of getting rental housing built?’ At a high level, it comes down to time and money. When you get to costs, government fees and charges are a very significant part.”
A month before the Western Canada Apartment Investment Conference, Prime Minister Mark Carney, alongside the Premier of Ontario, Doug Ford, announced a series of measures to boost housing supply for Canadians. This included an announcement that development charges in Ontario would be lowered by up to 50 per cent. The measures would be in place for three years and target municipalities covering 80 per cent of the province’s population. Development charges are an issue that has been top of mind for the Canadian Real Estate industry over the last few years, and a key obstacle to getting shovels in the ground. Speaking ahead of the Western Canada Apartment Investment Conference, Tony Irwin sets out the policy reforms and pragmatic solutions needed to move the rental housing sector forward.
■ Alex Gray
THE IMPACT OF A REDUCTION
The reduction in charges does more than stimulate new starts, says Tony, it positively impacts the construction industry, providing jobs at a time when the industry has ground to a halt and Canada needs to boost its domestic economy. “We’ve been advocating at Rental Housing Canada (RHC) for a 100 per cent reduction, even if it’s for a shorter period of time, to really make a difference.” RHC members tell Tony that any reduction will help, he adds. “This is really about numbers. It’s not a subjective thing. It’s about getting the proforma to a place where your construction financing can look at
Tony Irwin, President & Chief Executive Officer at Rental Housing Canada, says the announcement was a very positive development.
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Canadian Real Estate Forums / Spring 2026 14
Canadian Real Estate Forums / Spring 2026 15
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