Helping build more homes, faster in the Town of Caledon

To make progress towards solving the housing crisis we need to build more homes at prices that Canadians can afford, faster. To do this we need to end restrictive zoning and speed up permitting, and add greater density, especially near transit and post-secondary institutions. The Housing Accelerator Fund (HAF) will cut this red tape and fast-track at least 112,000 new homes by 2028, which cities and regions estimate will lead to the creation of over 750,000 new homes for people in towns, cities, and Indigenous communities across Canada over the next decade.

Today, the Government of Canada and the Town of Caledon announced that they reached an agreement to accelerate the construction of 485 homes over the next three years. This work will help spur the construction of 6,250 homes over the next decade. This agreement under the second round of the HAF, will provide near $14 million to eliminate barriers to building the housing we need, faster.

HAF requires action plans from local governments, unlocking funding to ensure the timely implementation of housing initiatives, with subsequent payments 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 Town of Caledon’s Action Plan commits to eight local initiatives such as implementing e-permitting technology to speed up application reviews and piloting a Community Planning Permit System to fast-track approvals in specific areas. The Town of Caledon will also create financial incentives for multiplexes and additional residential units, and will increase height and density in strategic growth areas, and will update zoning bylaws for greater density including allowing four units per lot as-of-right in urban areas as well as two secondary units per lot in rural areas. Caledon’s Action Plan will also leverage vacant town-owned lands by partnering with private and non-profit organizations to develop affordable and attainable housing, and will develop an incentive program to encourage purpose-built rental development and innovative construction techniques on these lands.

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:

“Our government is committed to removing barriers and cutting red tape to enable housing development, and these partnerships with Ontario communities will do just that.”

“Making housing more affordable for future generations means we must increase the supply of housing now. The Town of Caledon has put forward an ambitious plan to build housing and that will not only grow the supply of housing in Caledon but will also help to alleviate housing pressures in the region. This is a great day for Caledon.”

“We are very pleased to receive this funding for our housing. I thank our federal partners for this funding to bring new homes to Caledon including affordable and missing middle units. The Town of Caledon has taken bold steps to address the housing shortage. Housing is a foundational component of individual and social prosperity and we are ready to build complete communities to further Caledon’s Strategic Plan.”

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 and Canada’s Housing Plan, the most ambitious federal housing plan in over 40 years. 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 September 2024, the federal government has committed $57.57 billion to support the creation of over 156,000 units and the repair of over 297,000 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.
• In Budget 2024, the federal government committed an additional $400 million to incentivize more local governments to fast-track home construction, resulting in an additional 12,000 new homes permitted over the next four years.

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:

Sofia Ouslis
Ministry of Housing, Infrastructure and Communities
sofia.ouslis@infc.gc.ca

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