Latest News & Announcements

BOF has made its first large-scale equity investment in affordable housing, helping unlock Phase 1 of the Scarborough Junction project – a large, mixed-use community located next to the Scarborough GO Station.

Through a partnership with Republic Developments and Harlo Capital, BOF is investing a total of $177.65 million to enable construction to move forward on a project that could not otherwise proceed under current market conditions.

What this investment delivers:

• Approximately 1,700 new rental homes in Phase 1
• A target of 20% of those units (approximately 340) being affordable units secured for 40 years
• Remediation and revitalization of underused urban land in an underserved area of the GTA
• Long‑term public benefits, including enhanced access to transit, future parks, and community spaces

Bamkushwada Limited Partnership, representing six First Nations in northwestern Ontario, has increased its ownership position in the East-West Tie Transmission Line from 3.5 per cent to 20 per cent. The investment was supported by Provincial Guarantee under the Indigenous Opportunities Financing Program (IOFP), administered by Building Ontario Fund (BOF).

BOF continues to support increased Indigenous ownership in energy and resource development infrastructure projects through the IOFP, which provides access to financing at below-market interest rates through provincial guarantees.

The East-West Tie is a 450-kilometre transmission line connecting Wawa to the municipality of Shuniah (near Thunder Bay) and has been in service since 2022.

Toronto, ON – Building Ontario Fund (BOF) is partnering with High Art Capital to establish a fund to be capitalized with a minimum of $1.3 billion. The fund intends to purchase and convert unsold condominium inventory into much-needed rental housing at scale. With BOF contributing up to $300 million to the fund, this initiative represents our first investment in affordable residential housing across the province. Thanks to our participation, this partnership intends to deliver:

Approximately 2,200 rental housing units across the Greater Toronto Area (GTA), including

Approximately 550 affordable rental housing units for the GTA workforce, intended to be secured in perpetuity.

Kincardine, ON – The Ontario government today announced a $250 million investment by Saugeen Ojibway Nation (SON) in Bruce Power’s medical isotopes business. The transaction is supported by a provincial guarantee under the Indigenous Opportunities Financing Program (IOFP), administered by Building Ontario Fund.

The guarantee is one of the largest of its kind since the Indigenous loan guarantee program began in 2009. The investment by SON – which includes Chippewas of Saugeen First Nation and Chippewas of Nawash Unceded First Nation – secures long-term economic participation in a partnership known as Gamzook’aamin aakoziwin, which translates to “we are teaming up on the sickness.”

TORONTO — As part of its plan to protect Ontario and build a more competitive, resilient and self-reliant province, the government is investing approximately $83 million through the Building Ontario Fund (BOF) to create a new, multi-phased student housing development at Toronto Metropolitan University (TMU). The first phase of the project will result in a new 21-storey tower at 100 Bond Street, revitalizing a key area of the city and making student housing more affordable in Ontario’s most competitive housing market.

Toronto, ON – The Ontario government is expanding the mandate of the Building Ontario Fund (BOF) to include critical minerals as a new priority area for infrastructure investment. BOF plays a pivotal role in catalyzing investments in transformative infrastructure projects across the province. With this expanded mandate, BOF will be able to invest in enabling infrastructure – such as roads, energy systems, transportation, and housing – that will make it possible for Ontario’s critical minerals sector to grow. These investments will be made in collaboration with institutional investors, government ministries, and Indigenous partners.