On March 22, 2024, the Canada Mortgage and Housing Corporation (CMHC) announced significant funding allocations from the Housing Accelerator Fund for Grand Bay-Westfield, Harvey Rural Community, and the Town of Sussex.
The Housing Accelerator Fund is a $4 billion initiative by the Government of Canada scheduled to operate until 2027. This fund is a component of the National Housing Strategy that was launched in 2017.
In collaboration with the federal government, agreements were reached with these municipalities to expedite the construction of over 160 homes within the next three years. The funding is also aimed at supporting the development of more than 1,100 homes over the next ten years, as well, to address critical housing needs in these municipalities. Together, these three municipalities received over $5.1 million, intended to help remove barriers to housing development.
Missing Middle Housing
A key area identified as lacking is middle housing, such as duplexes, triplexes, and townhouses, to bridge the gap between detached single-family homes and large apartment buildings, and offer benefits such as increased density, affordability, and neighbourhood diversity.
Individual Municipality Allocations
Grand Bay-Westfield is set to receive over $1 million to bolster its Action Plan, which outlines five key initiatives to address diverse housing needs. These initiatives include promoting higher density, offering incentives for affordable housing, repurposing town-owned land for housing projects, and revising infrastructure plans to accommodate future growth.
Harvey will benefit from $840,000 of these funds, which is allocated to support its Action Plan which comprises six local initiatives. These include establishing a regional climate adaptation strategy, expediting development approvals, encouraging alternative housing options like secondary suites and accessory dwelling units, and establishing a comprehensive housing database with mapping tools for public use.
Sussex is slated to receive more than $3.2 million to fund various initiatives aimed at updating infrastructure plans, fostering non-profit partnerships, making permit-ready land parcels available, amending zoning bylaws to accommodate increased housing density, promoting alternative housing models like modular and prefabricated units, and implementing flood mitigation measures. Sussex is actively working towards developing its Municipal Plan and Zoning Bylaws, with a focus on incorporating stakeholder feedback and addressing housing needs identified through recent assessments.
The investments are expected to facilitate the removal of development barriers and promote the creation of affordable, inclusive housing options, including missing middle housing.
Other New Brunswick Fund Recipients
Other New Brunswick municipalities have benefitted from the Housing Accelerator Fund. Bathurst was allocated $3 million, Campbellton benefited from a significant sum of $4.5 million, Caraquet received $2.7 million, Cap-Acadie was granted $2 million, Champdoré secured over $3.8 million, Edmundston obtained over $4 million, Fredericton saw an infusion of over $10 million, Grand-Bouctouche is set to receive nearly $2.9 million, Indian Island First Nation secured $400,000, Moncton received the largest amount of $15.5 million, Shippagan earned $2.3 million, and Tracadie received $2.5 million.
