Infrastructure is the foundation of a thriving economy and a high quality of life. From housing and transportation to energy systems and long-term care homes, smart investments today help ensure a thriving, future-ready Ontario for generations to come.
As Ontario’s population grows – from 16.1 million in 2024 to a projected 21.7 million by 2046 – the demand for modern, reliable infrastructure is accelerating. Aging assets need renewal. Essential services need expansion. And communities need support to grow sustainably.
The Building Ontario Fund is financing transformative, revenue generating projects in the following priority areas:
| SECTOR | Affordable housing |
|---|---|
| LOCATION | Toronto, ON |
| PARTICIPATION | BOF played a pivotal role in moving this project forward through our $83 million in debt financing that will deliver a 21-storey tower as part of a multi-phased initiative that is expected to total approximately $200 million. |
| PARTNERS | Cedar Podium |
| SECTOR | Energy |
|---|---|
| LOCATION | Darlington, ON |
| PARTICIPATION | Investment of up to $1 billion in equity |
| PARTNERS | Ontario Power Generation (OPG) and Canada Growth Fund Investment Management (CGF) |
| SECTOR | Long-term care |
|---|---|
| LOCATION | Toronto |
| PARTICIPATION | $176.1 million construction loan and, subject to Rekai meeting customary conditions, a term loan after construction is complete |
| PARTNERS | The Rekai Centres and a major Canadian bank, in collaboration with the Ministry of Long-Term Care |
| SECTOR | Long-term care |
|---|---|
| LOCATION | Amherstburg, Lancaster, Prescott, and Tay Valley, Ontario |
| PARTICIPATION | Senior secured loan of $132.7 million to fund construction and operational costs across the four homes, subject to customary financial terms and conditions |
| PARTNERS | Arch Corporation and Manulife Financial, in collaboration with the Ministry of Long-Term Care |
