On August 2, 2024, the Government of Canada, in collaboration with 30 communities nationwide, announced an agreement to accelerate the construction of over 1,700 housing units within the next three years. This initiative aims to support the development of more than 14,700 homes over the next decade, emphasizing higher-density housing, student housing, homes near transit, and affordable housing. With a funding provision of over $68 million, the government seeks to remove barriers and expedite the construction process to provide affordable housing options for Canadians.
British Columbia
In British Columbia, several communities will benefit from the Housing Accelerator Fund.
- Aitchelitz First Nation: $280,520 for 5 units over 3 years and 22 units over 10 years.
- Boston Bar First Nation: $520,000 for 8 units over 3 years and 65 units over 10 years.
- City of New Westminster: $11,428,628 for 311 units over 3 years and 1,734 units over 10 years.
- District of Saanich: $14,936,101 for 513 units over 3 years and 766 units over 10 years.
- Kitasoo Xai’xais Nation: $1,089,122 for 21 units over 3 years and 122 units over 10 years.
- Lheidli T’enneh First Nation: $757,000 for 11 units over 3 years and 25 units over 10 years.
- District of Ucluelet: $2,095,293 for 65 units over 3 years and 918 units over 10 years.
- Seabird Island Band: $2,992,000 for 50 units over 3 years and 251 units over 10 years.
- Skowkale First Nation: $368,000 for 6 units over 3 years and 24 units over 10 years.
- Sun Peaks Mountain Resort Municipality: $1,525,799 for 33 units over 3 years and 350 units over 10 years.
- City of Duncan: $2,637,814 for 73 units over 3 years and 1,060 units over 10 years.
- District of Lake Cowichan: $885,750 for 20 units over 3 years and 75 units over 10 years.
- Town of Tofino: $1,487,175 for 34 units over 3 years and 514 units over 10 years.
- Tsawwassen First Nation: $2,480,000 for 42 units over 3 years and 210 units over 10 years.
- Ulkatcho First Nation: $455,000 for 7 units over 3 years and 74 units over 10 years.
- Village of Radium Hot Springs: $613,445 for 16 units over 3 years and 54 units over 10 years.
- Yakweakwioose Nation: $208,000 for 4 units over 3 years and 17 units over 10 years.
Alberta
- Elizabeth Metis Settlement: $850,975 for 13 units over 3 years and 72 units over 10 years.
- Piikani Nation: $2,301,000 for 39 units over 3 years and 166 units over 10 years.
Manitoba
- Municipality of Emerson Franklin: $1,925,676 for 49 units over 3 years and 352 units over 10 years.
- Rural Municipality of Brokenhead: $664,200 for 20 units over 3 years and 130 units over 10 years.
- Sioux Valley Dakota Nation: $1,552,000 for 25 units over 3 years and 120 units over 10 years.
- Treaty One Nations: $5,315,182 for 88 units over 3 years and 900 units over 10 years.
Nova Scotia
- Millbrook First Nation: $2,482,000 for 38 units over 3 years and 110 units over 10 years.
- Pictou Landing First Nation: $531,000 for 9 units over 3 years and 34 units over 10 years.
Newfoundland and Labrador
- Town of Fogo Island: $798,300 for 18 units over 3 years and 116 units over 10 years.
- Town of Grand Falls-Windsor: $4,606,144 for 145 units over 3 years and 1,117 units over 10 years.
Northwest Territories
- Fort Simpson Metis Nation: $580,000 for 8 units over 3 years and 20 units over 10 years.
- Jean Marie River First Nation: $885,000 for 15 units over 3 years and 32 units over 10 years.
Additional Funding and National Impact
The Housing Accelerator Fund (HAF), launched in March 2023, is a $4.4 billion initiative that aims to cut red tape and expedite the permitting process for at least 100,000 new homes within three years, with an expected impact of over 750,000 new homes in the next decade. This fund requires innovative action plans from local governments, providing upfront federal funding and additional funds upon delivering results. It encourages bold approaches, including implementing methods to accelerate project timelines, increase housing density, and promote affordable housing units.
In Budget 2024, an additional $400 million was committed to the HAF, incentivizing more local governments to fast-track home construction, with an expected outcome of 12,000 new homes permitted over the next four years. The HAF is part of Canada’s National Housing Strategy, an $82+ billion plan to provide more Canadians with a place to call home. 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, prioritizing housing that supports seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.
