DELTA, BC, Jan. 20, 2025 /CNW/ - With federal funding and federal leadership, we are changing how municipalities let housing get built in communities. With a greater focus on density and affordable housing, we are going to get more homes built for Canadians at prices they can afford.
Today, the Government of Canada and the City of Delta announced that they reached an agreement to fast-track 424 additional homes over the next three years. This work will help spur the construction of 4,100 homes over the next decade. This agreement under the second round of the Housing Accelerator Fund (HAF), will provide $14.2 million to eliminate barriers to building the housing we need, faster.
The City of Delta's Action Plan commits to seven local initiatives such as an accessory dwelling program to increase infill housing, the reduction of parking requirements, and zoning modernization to streamline development approvals. Opportunities to develop affordable non-market housing on civic and institutional lands will be enabled through land inventories, financial incentives, capacity building and strategic partnerships. The action plan also includes technological improvements and the use of Artificial Intelligence (AI) to streamline developmental approvals.
Under both rounds of funding, HAF is helping cut red tape and fast track at least 112,000 permitted new homes by 2028, which cities and regions estimate will lead to the creation of over 750,000 permitted new homes for people in towns, cities, and Indigenous communities across Canada over the next decade. It asks for innovative action plans from local governments, and once approved, provides upfront funding to ensure the timely implementation of initiatives, with subsequent payments upon delivering results. Local governments are encouraged to think big and be bold in their approaches, which could include accelerating project timelines, allowing increased housing density, and encouraging affordable housing units.
The first round of HAF committed $4 billion to local governments. In Budget 2024, the federal government committed an additional $400 million to incentivize more local government to fast-track home construction.
The Government of Canada is making life more affordable for Canadians — and housing is key to our work. We will continue to work with provincial, territorial, and municipal governments, as well as Indigenous partners, to keep building more homes for Canadians, faster.
Quotes:
"Affordable non-market housing is a key answer to Canada's housing crisis and our partnership with Delta will deliver just that. We will keep working with municipalities, mayors, Indigenous partners, and all levels of government to get more homes built for Canadians at prices they can afford."." – The Honourable Nathaniel Erskine-Smith, Minister of Housing, Infrastructure and Communities
"Building more homes for people in Delta, faster. That's how your federal government is solving the housing crisis. Working with Delta, we are going to make sure families have a safe, affordable place to live." – The Honourable Carla Qualtrough, Member of Parliament for Delta
"The City of Delta is one of many communities across the country grappling with the pressures of the housing crisis, and this funding will provide much-needed support as we work to build housing and grow sustainably. On behalf of Delta Council, I want to extend our sincere thanks to the Government of Canada, through the CanadaMortgage and Housing Corporation, for their critical investment as we work to address the housing needs of our community." – Dylan Kruger, Acting Mayor of Delta
Quick Facts:
- Launched in March 2023, the Housing Accelerator Fund is a $4.4 billion initiative from the Government of Canada that will run until 2027-28. The first round of funding totalled $4 billion, and Budget 2024 added an additional $400 million to this program.
- The Housing Accelerator Fund is part of Canada's National Housing Strategy (NHS), an $115+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives are updated quarterly at www.placetocallhome.ca. The Housing Funding Initiatives Map shows affordable housing projects that have been developed.
- As of September 2024, the federal government has committed $57.57 billion to support the creation of over 156,000 units and the repair of over 297,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.
Associated Links:
- Housing Accelerator Fund
- Housing Accelerator Fund – Building more homes, faster
- Building more homes, faster
- Making housing more affordable for Canadians
- National Housing Strategy
SOURCE Canada Mortgage and Housing Corporation (CMHC)
Media Contacts: Sofia Ouslis, Ministry of Housing, Infrastructure and Communities, [email protected]; Media Relations: Canada Mortgage and Housing Corporation, [email protected]
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