Ontario's Premier Accountability Dashboard · Queen's Park Watch
Robert Kavcic
BMO Financial Group
Robert Kavcic is Senior Economist at BMO Financial Group, covering Canadian real estate and housing markets. When the Ford government announced the Building Ontario Fund's $300M commitment to High Art Capital in March 2026, Kavcic's widely-cited response was blunt: "Cue the bailouts." His characterization framed the program as a government liquidity lifeline for over-leveraged condo developers facing a market correction — a framing that spread across media coverage and housing analyst commentary.
Connected Scandals
The Ford government's Building Ontario Fund quietly committed $300 million in public mezzanine debt to High Art Capital — a little-known private fund — to buy unsold GTA condos from developers and convert them to rentals. Only 25% of the 2,200 units will be "affordable," the developers being bailed out are also paid to manage the properties, and the deal closed in secret two weeks before the public found out.
BMO senior economist who publicly characterized Ontario's $300M BOF commitment to High Art Capital as a developer bailout, helping frame media coverage of the program as a publicly subsidized liquidity lifeline rather than a genuine housing affordability initiative.