Helping building more homes, faster in Cap-Acadie

CAP-ACADIE, NB, March 4, 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 and the Regional Town of Cap-Acadie announced that they reached an agreement to fast track 53 housing units over the next three years. This work will help spur the construction of 360 homes over the next decade.

The agreement under the Housing Accelerator Fund (HAF), will provide over $2 million to eliminate barriers to building the housing we need, faster. Cap-Acadie will bring in ten initiatives to boost housing stock including secondary, modular, family and infill housing. These initiatives will also speed up the approval process, establish rental housing zones and help build partnerships with non-profits to develop more affordable housing.

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 650,000 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.

"We're pleased and proud to announce this partnership with Cap-Acadie today. With initiatives like streamlining the approval process, establishing rental housing zones, and partnering with non-profits to create more affordable homes, the Town is paving the way for hundreds of new homes. We will keep working with villages, towns, cities, mayors, Indigenous partners and all levels of government to help build more homes that Canadians can afford." ? The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

"Cap-Acadie is a growing town with an ambitious municipal council?and one that understands the importance of doing things differently to offer families who want to move here a home they can afford. Thanks to this partnership, Cap-Acadie will be able to pursue its growth and continue to be a place that offers an extraordinary quality of life." ? The Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs

"This crucial funding means we can accelerate the construction of affordable, high-quality housing to meet the needs of our residents. By investing in the construction of homes, we're investing in the future of our community." ? Serge Léger, Mayor of the Regional Town of Cap-Acadie

• Today's announcement was made by the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, and by Marc-André Vienneau, Deputy Mayor of the Regional Town of Cap-Acadie.
• Launched in March 2023, the Housing Accelerator Fund (HAF) is a $4 billion Government of Canada initiative that will run until 2026?2027.
• The HAF is part of Canada's National Housing Strategy, an $82+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives is updated quarterly at www.placetocallhome.ca. The Housing Funding Initiatives Map shows the affordable housing projects developed so far.
• As of September 30, 2023, the Government of Canada had committed more than $38.89 billion to support the development of almost 152,000 housing units and repairs to more than 241,000 more. The measures prioritize those in greatest need, including seniors, Indigenous people, 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)