$1.3B Condo Fund — Public Money Backstops Developer Inventory
$300MSource: Building Ontario Fund mezzanine debt contribution (Toronto Life, Link2Build, March 2026)
Ontario committed $300 million in public mezzanine debt through the Building Ontario Fund to anchor a $1.3 billion fund — managed by private firm High Art Capital — to purchase roughly 2,200 unsold GTA condos and convert them into rental units. Only 25% of units will have below-market rents. Critics argue the fund is a liquidity lifeline for developers facing bankruptcy, effectively putting a price floor under the condo market at taxpayer expense.
🏠 An in effect Housing policy from March 2026 · Partially sourced
Updated · Created
What this money could have funded instead
$1M
$1M$300M
10nurse salaries (1 year)
2affordable housing units
11elementary school teacher salaries (1 year)
Figures are approximate, using publicly available Ontario cost data.
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