Hines is looking to develop up to $2 billion across Canada in rental-apartment towers, the Globe and Mail reported.

“The biggest story going on in Canada today is that we have a massive undersupply of housing,” Avi Tesciuba, co-head of Canada for Hines, told the Globe. “Our primary focus is to help solve that. There’s massive demand for new housing.”

Although Hines has $2 billion at its disposal, it might not spend that much.

“It’s a matter of whether it’s worth our time,” Tesciuba told the Globe, referring to a specific project.

He ruled out the idea of one large investment. The Houston-based company could also invest in mixed-use projects that include office and residential components.

Syl Apps, the company’s other co-head for Canada, told the Globe that Hines has a lot of dry powder to invest in Canada and the firm’s expertise could help lenders, borrowers or receivers “achieve their best outcome.”

He and Tesciuba declined to comment when the Globe asked whether Hines would be interested in investing the financially troubled the One major mixed-used project in downtown Toronto that includes a large multi-residential component.

“The way we think about it is, we hope that we can be a solution provider,” Apps told the Globe.

Pictured: Hines-owned CIBC Square in downtown Toronto

Image: Hines