The newly created agency will oversee plans to build 4,000 homes on six federally owned sites, as part of a $13 billion agency budget to speed up affordable home building. 

Steel-timber hybrid construction is emerging as a sustainable and efficient approach to modern building design.

Alto was not among the five nation-building projects unveiled Thursday, but the government has listed it with others identified for future development.

The projects include planned energy development, mining and port infrastructure projects from the West Coast to Central Canada.

The $472-million project is expected to enable the expansion of electric vehicle manufacturing and farming operations in the region.