What is the Housing Accelerator Fund?

The Housing Accelerator Fund is an application-based program introduced in the 2022 Federal Budget. It had an initial funding allocation of $4 billion until 2026 – 27 and one application window in 2023.

The 2024 Federal Budget announced an additional $400 million in funding until 2027 – 28. This funding was only available only to applicants who were not approved in the 2023 application window.

The program is intended to drive transformational change within the sphere of control of the local government regarding land use planning and development approvals. The Fund’s objective is to accelerate the supply of housing across Canada, resulting in at least 112,000 more housing units permitted than would have occurred without the program. The Housing Accelerator Fund aims to support lasting changes that will improve housing supply for years to come.

The Housing Accelerator Fund provides incentive funding to local governments. The funding is meant to remove barriers and support the development of affordable, inclusive, equitable and climate-resilient communities.

Large/Urban Stream communities have a population of 10,000+ and are in a Canadian province. Approved participants can use incentive funding for investments in:

• Housing Accelerator Fund action plans
• affordable housing
• housing-related infrastructure
• community-related infrastructure that supports housing

NOTE: Municipalities with smaller populations, territories and Indigenous communities are included in the Small/Rural/North/Indigenous Stream