BRIDGEWATER, NS, March 3, 2025 /CNW/ - To make progress towards solving the housing crisis we need to build more homes at prices that Canadians can afford, faster. To do this we need to end restrictive zoning and speed up permitting, and add greater density, especially near transit and post-secondary institutions. The Housing Accelerator Fund (HAF) will cut this red tape and fast-track at least 112,000 new homes by 2028, which cities and regions estimate will lead to the creation of over 750,000 new homes for people in towns, cities, and Indigenous communities across Canada over the next decade.
Today, the Government of Canada, the Town of Bridgewater and the Town of Mahone Bay announced that they reached agreements under second round of the HAF to eliminate barriers to building the housing we need, faster.
Building on the $486,040 that the Town of Bridgewater received in December through the Canada Public Transit Fund, the largest public transit investment in Canadian history, and on the success of existing transit funds like the Rural Transit Solutions Fund, the Zero Emission Transit Fund, and the Active Transportation Fund, the Town of Bridgewater received over $3.3 million to accelerate the construction of 100 homes over the next three years. This work will help spur the construction of a combined 365 homes over the next decade.
The Town of Mahone Bay received over $400,000 through HAF to accelerate the construction of 13 homes over the next three years. This work will help spur the construction of a combined 250 homes over the next decade.
HAF requires action plans from local governments, unlocking funding to ensure the timely implementation of housing 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 Town of Bridgewater's Action Plan commits to five local initiatives, such as increasing density by creating a pathway to winding down its single-unit dwelling (R1) zone. It will also incentivize the creation of affordable housing by making municipal land available and offering grants to offset development costs. The Town will also streamline the approval process by implementing e-permitting and adopting a suite of pre-approved building plans.
The Town of Mahone Bay's Action Plan commits to five local initiatives such as increasing efficiency through the implementation of an e-permitting system, reviewing their fees and disincentivizing under-used lands and space. They will also make municipal lands available for housing, develop grant and funding programs and implement an affordable housing community improvement plan.
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:
"Our government is committed to removing barriers and cutting red tape to enable housing development, and these partnerships with Nova Scotian communities will do just that." – The Honourable Nathaniel Erskine-Smith, Minister of Housing, Infrastructure and Communities
"Today's announcements are about building more homes faster for people in Bridgewater and in Mahone Bay. By working with the Towns of Bridgewater and Mahone Bay, we are making sure families have a safe, affordable place to call home." – Kody Blois Member of Parliament for Kings-Hants
"Bridgewater has grown over the last decade, putting significant strain on our existing housing stock. Today's announcement allows our community to invest in upgrading infrastructure, helping to reduce red tape and leading directly to more new housing starts." – David Mitchell, Mayor of Bridgewater
"The Housing Accelerator Fund is more than just bricks and mortar—it's about building a stronger, more inclusive community. This funding will support much-needed housing development in Mahone Bay, ensuring that both current and new residents have a place to call home while contributing to the town's long-term growth and sustainability." – Suzanne Lohnes-Croft, Mayor of Mahone Bay
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 and Canada's Housing Plan, the most ambitious federal housing plan in over 40 years. Progress on programs and initiatives are updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. 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.
- In Budget 2024, the federal government committed an additional $400 million to incentivize more local governments to fast-track home construction, resulting in an additional 12,000 new homes permitted over the next four years.
- The federal government is investing $2,774,333 through the Rural Transit Solutions Fund to support 12 rural transit initiatives across Nova Scotia.
- Over ten years, the Town of Bridgewater will receive $486,040 through the Canada Public Transit Fund (CPTF).
- CPTF is the largest public transit investment in Canadian history and builds on the success of existing transit funds: the Rural Transit Solutions Fund, Zero Emission Transit Fund, and the Active Transportation Fund. Upcoming funding application intakes include:
- Active Transportation Fund's Capital Projects stream opens on December 12, 2024.
- Rural Transit Solutions Fund's Capital Projects stream opens on December 16, 2024.
- In support of Canada's National Active Transportation Strategy, the Active Transportation Fund is providing $400 million over five years, starting in 2021, to make travel by active transportation easier, safer, more convenient, and more enjoyable.
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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