Helping build more homes, faster in Ontario

Government of Canada logo (CNW Group/Canada Mortgage and Housing Corporation (CMHC))

OTTAWA, ON, Jan. 27, 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 announced that it has reached agreements with 23 local governments in Ontario to accelerate the construction of over 4,200 homes over the next three years. This work will help spur the construction of over 44,700 homes over the next decade. These agreements under the second round of the HAF will provide close to $138 million to eliminate barriers to building the housing we need, faster.

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 list of communities receiving funding under these agreements is in an Appendix to this release.

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 Ontario communities will do just that." – The Honourable Nathaniel Erskine-Smith, Minister of Housing, Infrastructure and Communities

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 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 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.
• 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.

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

List of local governments in Ontario that are receiving funding under the second round of the Housing Accelerator Fund:

•  City of Sault Ste. Marie
•  City of Greater Sudbury
•  City of North Bay
•  Town of Saugeen Shores
•  Loyalist Township
•  Town of Whitchurch-Stouffville
•  City of Peterborough
•  Town of Carleton Place
•  The Town of Georgina
•  City of St. Thomas
•  Municipality of Mississippi Mills
•  Caledon
•  City of Belleville
•  Municipality of Middlesex Centre
•  Orillia
•  The Corporation of the Municipality of Strathroy- Caradoc
•  The Corporation of the Municipality of Brockton
•  Town of Espanola
•  Seguin Township
•  The Municipality of North Middlesex
•  Lucan Biddulph
•  Temagami First Nation
•  Ginoogaming First Nation

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]