Helping build more homes, faster in Stratford

STRATFORD, PE, March 14, 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 Town of Stratford announced that they reached an agreement to fast track almost 180 housing units over the next three years. This work will help spur the construction of more than 2,000 homes over the next decade.

The agreement under the Housing Accelerator Fund (HAF) will provide almost $5 million to eliminate barriers to building the housing we need, faster. Stratford's Action Plan commits to seven local initiatives including shortening development timelines by waiving fees for affordable and supportive housing development applications, rezoning commercial land to allow for residential and new commercial development, introducing zoning revisions that will remove barriers restricting multi-unit developments, and permit additional homes on low-density residential lots. The Town will also establish a package of pre-approved design plans for medium-density and multi-family homes such as townhouses and multiplexes along with a new e-permitting system to streamline housing applications.

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 more than 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 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 almost 180 homes in the next three years for Stratford and over 2,000 homes in the next decade. By working with cities, mayors, Indigenous partners 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

"We're working with Mayor Ogden and the Town of Stratford to get more homes built for Island families. This funding through our federal Housing Accelerator Fund is so vitally important and will help more folks find a safe, affordable place to call home." ? The Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food and Member of Parliament for Cardigan

"The Town of Stratford recognizes we have a role to play in finding housing solutions. Today's announced investment will allow us to further prepare for the future growth of Stratford. Together with our federal and provincial partners, the development community, and residents, we look forward to designing solutions that see our housing needs met so both current and future residents will be housed adequately and with a variety of options available to them." ? Steve Ogden, Mayor of Stratford

• Today's announcement was made by the Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food, and Steve Ogden, Mayor of Stratford.
• 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 Government of Canada