Prime Minister Mark Carney announced Sunday afternoon the launch of Build Canada Homes, the federal government's new agency that will oversee federal housing programs.

The agency was part of the Liberals' election promise to double housing construction.

The government is touting Build Canada Homes as a centralized agency to oversee new affordable housing programs initiated at the federal level.

Carney said the agency will "supercharge housing construction across Canada" by helping to build supportive and transitional housing in collaboration with provinces, territories and Indigenous communities. It will also expand "deeply affordable and community housing" and partner with private developers to build homes for the middle class.

The prime minister also announced that former Toronto city councillor Ana Bailão will be the CEO of Build Canada Homes.RE