Helping build more homes, faster in Milton

MILTON, ON, Jan. 22, 2024 /CNW/ - With federal funding and federal leadership we are changing how cities let housing get built in their municipalities. With a greater focus on higher density housing, student housing, homes near transit and affordable housing we are going to get more homes built for Canadians at prices they can afford.

Today, the Government of Canada announced that they reached an agreement and will invest over $22 million to fast track more than 800 housing units in the Town of Milton over the next three years. This work will help spur the construction of almost 4,700 homes over the next decade.

The Housing Accelerator Fund (HAF) will eliminate barriers to building the housing we need, faster. Milton's Action Plan commits to eight local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. The funding will support the following impactful actions:

• developing affordable homes,
• permitting four units on same lot as-of-right town-wide to increase housing density
• increasing housing density town-wide and close to major transit areas,
• increasing the supply of rental homes,
• enhancing the permit approval timelines, and
• delegating decision-making for minor zoning variances to town staff.

HAF is helping cut red tape and fast track at least 100,000 permitted new homes over the first three years, which cities and regions estimate will lead to the creation of over 450,000 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 building of new homes, as well as additional funds 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 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.

"Today's announcement will help fast track more than 800 homes in the next three years and almost 4,700 homes over the next decade. By working with cities, mayors, and all levels of government, we are helping to get more homes built for Canadians at prices they can afford." ? The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities   

"By building more affordable homes more quickly, our government is unlocking new opportunities for growth in Milton. Working together, we can equip our communities with new tools to support them to reach their potential and turn possibilities into realities." ?  Adam van Koeverden, Member of Parliament for Milton  

"The Town of Milton is thankful for the investment of over $21 million from Prime Minister Trudeau and Minister Fraser, as part of the Government of Canada's commitment to expedite building homes in our community. As one of Ontario's most rapidly expanding areas, Milton remains dedicated to cultivating a diverse housing landscape, and we are optimally positioned to contribute to achieving our provincial goal of adding 21,000 new housing units by 2031. The pursuit of this housing solution necessitates concerted efforts from various levels of government and the private sector. The Housing Accelerator Funding plays a pivotal role in supporting several crucial initiatives within Milton, fostering collaboration among all sectors, and ensuring the realization of our collective housing objectives." ? Gordon Krantz, Mayor for the Town of Milton

• Today's announcement was made by Adam van Koeverden, Member of Parliament for Milton, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities and Gordon Krantz, Mayor for the Town of Milton.
• The Town of Milton's Action Plan has an emphasis on developing affordable homes, increasing housing density across the town and close to major transit areas such as permitting four units on same lot as-of-right town-wide, increasing the supply of rental homes, making enhancements to permit approval timelines, and allowing town staff to make decisions regarding minor zoning variances.
• Launched in March 2023, the Housing Accelerator Fund (HAF) is a $4 billion initiative from the Government of Canada that will run until 2026-27.
• The Housing Accelerator Fund is part of Canada's National Housing Strategy (NHS), an $82+ 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 30, 2023, the Government of Canada has committed over $38.89 billion to support the creation of almost 152,000 units and the repair of over 241,000 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.

• 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)