THE CANADIAN NAIOP CHAPTERS WELCOME $6 BILLION FEDERAL INFRASTRUCTURE INVESTMENT

TORONTO, April 4, 2024 /CNW/ - The Canadian NAIOP Chapters welcome the federal government's $6 billion commitment for housing-enabling infrastructure. As communities across the country experience population growth, the municipal funding models to support rapid infrastructure expansion have not evolved to meet the demand. This has delayed investments in essential infrastructure and hampered private sector investments in new housing. The new federal commitment to the Canada Housing Infrastructure Fund will help unlock much needed housing development, although more work still needs to be done.

Alexander Thomson, Chair-Elect of NAIOP North America said, "We welcome the federal government's commitment to the funding of housing-enabling infrastructure across Canada. This is a significant investment to help struggling municipalities build and renew essential infrastructure, and we hope that this can be done while respecting both provincial and municipal responsibilities so that the funding can be put to work quickly. We are also pleased to see the federal government acknowledge that development charges must be frozen to help get essential housing built."

"We look forward to working with provincial and municipal governments across Canada to ensure this funding flows quickly to enable NAIOP members to get more housing built faster as part of mixed-use developments", said Mr. Thomson.

The Canadian NAIOP Chapters represent developers, owners and related professionals in office, industrial, retail and mixed-use real estate. With members from NAIOP Chapters in Calgary, Edmonton, Toronto and Vancouver, we are experts on commercial real estate matters across Canada.

SOURCE NAIOP Canada