BURNABY, BC, Dec. 19, 2023 /CNW/ - With federal funding, and federal leadership we are changing how cities let housing get built in their municipalities. With a greater focus on higher density housing, student housing, homes near transit and affordable housing we are going to get more homes built for Canadians at prices they can afford.
Today, the Government of Canada and the City of Burnaby announced that they reached an agreement to fast track 1,290 housing units over the next three years. This work will help spur the construction of more than 11,340 homes over the next decade.
The agreement, under the Housing Accelerator Fund (HAF) will provide over $43 million to eliminate barriers to build the housing we need, faster. Burnaby's Action Plan commits to seven local initiatives that address the region's increasing housing demand. Zoning reforms and approval process improvements will increase housing diversity and affordability to better respond to the diverse needs of the community. The funding will enable gentle density and missing-middle housing, streamline the development process with the use of technology, and support the Burnaby Housing Authority in the delivery of new non-market housing.
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 250,000 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.
"Today's announcement will help fast track close to 1,300 homes in the next three years and over 11,300 homes over the next decade. By working with cities, mayors, and all levels of government, we are helping to get more homes built for Canadians at prices they can afford."
— The Hon. Sean Fraser, Minister of Housing, Infrastructure and Communities
"Helping build more homes across Burnaby empowers generations of families to establish stronger roots and make our community a better place. The federal government is committed to collaborating with municipalities, stakeholders and local developers to ensure the success of the Housing Accelerator Fund program. We appreciate Mayor Hurley and Council for their ongoing partnership and advocacy. Our government will continue working towards making life more affordable for all Canadians." - The Honourable Terry Beech, Minister of Citizens' Services, Member of Parliament for Burnaby North-Seymour
"Burnaby's innovative housing policies are driving the creation of thousands of affordable homes in our community, with more than 1,200 units currently under construction," said Mayor Mike Hurley. "The support of our partners in the federal government through the Housing Accelerator Fund is integral to delivering affordable housing for Burnaby residents." – Mike Hurley, Mayor for the City of Burnaby
SOURCE Canada Mortgage and Housing Corporation (CMHC)
Media Contacts: Micaal Ahmed, Office of the Minister of Housing, Infrastructure and Communities, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]
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