Housing Accelerator Fund is now accepting action plans

Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, announced the official opening of the Housing Accelerator Fund’s (HAF) application portal. Municipalities are strongly encouraged to submit their action plans for funding to help build more homes, faster.

Right now, it’s simply too hard to get the housing we need built across the country. The system is not working, and we need to accelerate change at the local level. That’s why in May 2023, the Prime Minister, Justin Trudeau, and Minister Hussen launched the HAF, a $4 billion initiative that will provide funding to cities, towns, and Indigenous governments to develop innovative measures to unlock new housing supply and fast-track the creation of 100,000 new homes across Canada.

Local governments are encouraged to think big and be innovative in their action plans. This could include reducing red tape, accelerating project approvals, incentivizing affordable housing units, or introducing zoning reforms to build more density. The Fund will provide upfront funding to support implementation, as well as additional funds upon delivering results. The HAF is a significant step towards the Government of Canada’s plan to double the rate of housing construction over the next decade and make housing more affordable for Canadians.

Building more housing, including affordable housing, is a key part of making life more affordable and building an economy that works for all Canadians. There must be an ‘all-hands-on-deck’ approach to increasing the supply of housing and municipal, provincial, territorial, and Indigenous governments all have a significant role to play. When we work together across orders of government, we can build a better future for the middle class and people working hard to join it.

Visit HAF for more information or start your application today.

Quote:

“Every level of government has a part to play in building the housing Canadians need. That’s why, the Government of Canada is working with municipalities to cut red tape and speed up housing approvals at the local level to fast track the creation of 100,000 additional homes across the country. The Housing Accelerator Fund will help local governments make lasting changes to our housing system so that we can improve and increase housing supply for years to come. Through innovation and partnerships with local governments we can build the homes we need in our cities and towns, creating affordable, inclusive, and diverse communities. We will continue to work to make life more affordable and create stronger, more prosperous communities from coast to coast to coast.”

Quick facts:

• The HAF is part of a larger toolbox of federal measures to support the creation of housing supply through Canada's National Housing Strategy (NHS), an ambitious 10-year plan that will invest more than $82 billion to give more Canadians a place to call home. Progress on programs and initiatives under the NHS is updated quarterly at www.placetocallhome.ca.
• The application window will be open for 45 days, closing on Friday, August 18^th, 2023. Local governments are encouraged to visit the HAF web page to access pre-application resources, including a step-by-step application guide. A CMHC representative will also be available for any assistance they need with the application process.
• The Government of Canada will continue negotiating an agreement with Quebec to ensure municipalities in the province can access the program while respecting the province’s laws.

Additional information:

HAF Launch News Release: Building more homes, faster.

HAF Launch Backgrounder: Housing Accelerator Fund — Building more homes, faster.

For more information on Government of Canada housing initiatives: Housing Canada.

CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that everyone in Canada has a home they can afford, and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.

For information on this release:

Shiraz Keushgerian
Office of the Minister of Housing and Diversity and Inclusion
shiraz.keushgerian@infc.gc.ca

Media Relations
Canada Mortgage and Housing Corporation
media@cmhc-schl.gc.ca