WATCH: Federal housing minister says condo bailout 'responsible decision' amid housing crisis

Federal Housing Minister Gregor Robertson is defending Ottawa's plan to help acquire vacant condo units for affordable housing, rejecting criticism that it amounts to a taxpayer-funded bailout for developers.

Speaking to reporters in Toronto, Robertson said the proposal is one of several tools being considered to address housing affordability and homelessness.

"At a time like this where we have record levels of homelessness, we have people that can't access affordable rental apartments, and we have empty homes in Vancouver and Toronto, we need to take action on this and make the most responsible decisions," he said.

Robertson added that more details about the program will be released soon.

He also stressed that the proposed condo acquisition program is separate from the broader $3.2 billion housing and infrastructure partnership announced by Ottawa and British Columbia last week.

The minister said the federal government is taking a number of approaches to boost housing supply, including affordable housing construction, rental protection programs, homelessness initiatives, and the Housing Accelerator Fund.

Ottawa, BC announce new housing and infrastructure partnership

The agreement includes more than $5 billion in federal funding over the next decade for public transit, health-care infrastructure, housing-related projects, and community infrastructure.

Sitka MediaLeda Omid

The comments come after Prime Minister Mark Carney and Premier David Eby announced plans to work with Build Canada Homes and BC Housing to convert more than 2,200 vacant condo units into affordable housing in priority growth areas.

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“This is another example of a tiny club of Liberal elites, billionaires, and insiders getting rich by making hardworking Canadians poor.”

Sitka MediaJarryd Jäger

The proposal has drawn criticism from some opponents, who argue governments should not use taxpayer money to purchase unsold condominium units.

Robertson was also asked about federal funding aimed at reducing development charges, which are particularly high in Ontario and British Columbia.

He said the funding is available across Canada but noted housing challenges are especially severe in both provinces.

"We're really focusing this investment in Ontario and BC where the challenge is enormous," Robertson said.

The federal government has not yet released details on how the condo acquisition program would work, how many units could ultimately be purchased, or what it could cost.