Helping build more homes, faster in Hay River

With federal funding and federal leadership, we are changing how municipalities let housing get built in their communities. With a greater focus on higher density housing, 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 Hay River announced that they reached an agreement to fast track 30 homes in the next three years and spur the construction of over 170 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. Hay Rivers’ Action Plan commits to nine local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. Planned initiatives will create guidelines for pre-approved additional homes, incentivize development of underused or idle lands, amend bylaws and policies to support downtown residential development and transitional housing, and support alternative construction methods with a reduced carbon footprint.

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 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.

Quotes:

“With initiatives like amending bylaws to support downtown residential development, supporting alternative construction methods to reduce carbon footprints and promoting building homes on underused lands, this agreement will help make sure that Hay River has more of the kinds of homes we need to tackle the housing crisis. We are going to keep working with municipalities, mayors, Indigenous partners, and all levels of government to get more homes built for Canadians at prices they can afford.”

“Through innovation and partnerships with local governments, we can build the homes we need in our cities and towns and create affordable inclusive and diverse communities. Partnering with Hay River through the Housing Accelerator Fund does just that. We will continue to work to make life more affordable and create strong, more prosperous communities here in the Northwest Territories and across our great country.”

“The Council of the Town of Hay River is happy to receive support through the Housing Accelerator Fund to continue its efforts to increase the stock of safe, diverse, efficient, and affordable housing in Hay River. This is an important next step to advance key housing initiatives identified in our Community Strategic Housing Plan.”

Quick facts:

• Launched in March 2023, the Housing Accelerator Fund 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, 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 December 31, 2023, the Government of Canada has committed nearly $43 billion to support the creation of almost 135,000 units and the repair of over 270,000 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.

Additional information:

• Housing Accelerator Fund
• Housing Accelerator Fund — Building more homes, faster
• Building more homes, faster
• Making housing more affordable for Canadians
• National Housing Strategy

Information on this news release:

Micaal Ahmed
Office of the Minister of Housing, Infrastructure and Communities
micaal.ahmed@infc.gc.ca

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