The federal cabinet has chosen Toronto as the headquarters for its new Build Canada Homes agency, overruling recommendations from housing department officials who argued Ottawa would be significantly cheaper and easier to establish.Blacklock's Reporter says according to internal government documents, cabinet formally designated Toronto as the location for the agency's head office despite concerns over high commercial rents and limited office availability.The memo states that Prime Minister Mark Carney was to make the final decision on the headquarters location.Housing department officials had recommended Ottawa, citing lower leasing costs, greater office availability and proximity to federal policy expertise."Ottawa will benefit the initial start-up due to expertise in policy," the department wrote in its internal memorandum, Location Considerations Of Starting Up Build Canada Homes.Officials also noted that federal office space reductions could make suitable accommodations available in the capital.By comparison, the department estimated Toronto office space would cost about $60 per square foot, or roughly $900,000 annually to accommodate approximately 150 employees.The memo also warned that finding suitable office space in Toronto could take three to four years.Despite those concerns, officials acknowledged Toronto's concentration of major real estate firms and industry expertise."Toronto's depth of activity and expertise stands out when you look at major real estate firms," the memo states.Ottawa's commercial office space was estimated at approximately $40 per square foot, or about $600,000 annually..Officials also evaluated Vancouver, Calgary and Montréal.The department estimated Vancouver office space at approximately $58 per square foot with a similar three- to four-year wait for available space.Calgary office rents averaged about $55 per square foot, with an estimated one- to two-year wait depending on availability, while Montréal's commercial rents were comparable to Ottawa at about $40 per square foot.Cabinet nevertheless approved Toronto as the permanent headquarters for Build Canada Homes. No opening date has been announced.Carney unveiled the agency last September, describing it as a new federal organization intended to build affordable housing at scale across Canada.Former Toronto deputy mayor Ana Bailão was appointed chief executive officer with an annual salary of $469,000.Appearing before the House of Commons human resources committee earlier this year, Bailão said the agency was designed to accelerate housing construction."Our goal is clear, to create a system that doesn't just build more homes but that builds better and faster in partnership with people who make housing possible," she told MPs.Asked by Conservative MP Scott Aitchison about the agency's progress, Bailão said Build Canada Homes was reviewing about 400 proposals.When questioned about plans to encourage home ownership, Bailão said initiatives were under development but declined to provide details."We're working on a couple of things on home ownership that I hope you'll be able to see," she said. "I can't divulge."
