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With federal funding and federal leadership, we are changing how housing gets built in communities. With a greater focus on density and affordable housing, we are going to get more homes built for Canadians at prices they can afford.
Today, the Government of Canada, the Town of New-Wes-Valley, and the Town of Port Rexton announced that they reached agreements to fast track a combined 42 homes over the next three years. This work will help spur the construction of more than 460 homes over the next decade. These two agreements under the Housing Accelerator Fund (HAF), will provide nearly $1.4 million to eliminate barriers to building the housing we need, faster.
New-Wes-Valley’s Action Plan commits to five local initiatives such as increasing focus on low-income housing through a multi-family complex, a tax sales incentive for residents who wish to build but are struggling to find suitable land, and reviewing municipal regulations to better support and encourage building new homes.
Port Rexton’s Action Plan commits to five local initiatives including promoting a climate adaptability and mitigation plan, supporting non-profit organizations to create and maintain more affordable homes, and reviewing neighborhood planning practices to encourage modular 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 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 our Indigenous partners to keep building more homes for Canadians, faster.
Quotes:
“We are excited and proud to announce this partnership with New-Wes-Valley and Port Rexton today. With initiatives like reviewing existing regulations and forming new partnerships with non-profit organizations, these communities are working to ensure that they have more of the kind of homes needed to tackle the housing crisis. We will keep working with municipalities, mayors, Indigenous partners, and all levels of government, to get more homes built for Canadians at prices they can afford.”
“New-Wes-Valley and Port Rexton have stepped up to the plate to show they are committed to getting more homes built in Newfoundland and Labrador. Through the agreements we're announcing today, our government is unlocking new opportunities for social and economic growth in our communities.”
“Small towns need to grow to become viable and the greatest obstacle to this is money. This funding will give us the ability to hopefully build on what is already a prosperous town.”
“The Town of Port Rexton is thrilled to be part of this vital initiative, working hand in hand with a local non-profit Otter Housing Association, to accelerate the construction of much-needed homes on the Bonavista Peninsula. Through innovative measures like promoting climate adaptability and mitigation, supporting affordable housing development, and reviewing neighbourhood planning, we're paving the way for sustainable living in our region.”
Quick facts:
- Today’s announcement was made by Churence Rogers, Member of Parliament for Bonavista-Burin-Trinity, on behalf of the Honourable Sean Fraser, Minister of Housing Infrastructure and Communities, and Michael Tiller, Mayor of New-Wes-Valley.
- 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 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
