More cities and communities to access Housing Accelerator Fund

Ottawa, Ontario, July 8, 2024

To help tackle the housing crisis, we need to change how housing gets built in communities.

Today, the federal government announced that it is reopening the Housing Accelerator Fund (HAF) application portal from July 15 to September 13, 2024. Following high demand with more than 500 applications received in program’s first round, the Budget 2024 invested an additional $400 million in HAF. This funding will incentivize more local governments to fast-track home construction, resulting in an additional 12,000 new homes permitted over the next four years.

This funding will only be available to applicants who applied during the first round of the HAF but were not selected. Interested applicants must update and resubmit their application, which will need to integrate best practices from the previous round into their own updated action plans to accelerate housing supply and bolster affordability. Additionally, cities applying under the large/urban stream are required to commit to implementing four units as-of-right bylaws as part of their action plans.

Canada Mortgage and Housing Corporation will assess applications for funding and successful applicants will be selected by the end of 2024. Ambitious and innovative applications will be prioritized.

Through the first round, 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.

Quote:

“With the Housing Accelerator Fund, we are making it easier to build the homes that Canadians need at prices they can afford. There is more work to be done but this program has dramatically changed how communities build homes in this country. With this additional funding, we will keep building on the momentum, and working with partners across the country, to end the housing crisis once and for all.”
— The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

Quick facts:

Launched in March 2023, the Housing Accelerator Fund is a $4.4 billion initiative from the Government of Canada that will run until 2027 – 28. The first round of funding totalled $4 billion, and Budget 2024 added an additional $400 million to this program.
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.
Please visit the Housing Accelerator Fund website for more details.
The Government of Canada will negotiate an agreement with Quebec that will further accelerate housing and provide more funding for affordable housing in the province.
On April 12, 2024, the federal government released Solving the housing crisis: Canada’s Housing Plan, supported by new investments proposed in Budget 2024.
As of March 2024, the federal government has committed $50.97 billion to support the creation of over 146,000 units and the repair of over 286,000 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.