STONY PLAIN, AB, July 15, 2024 /CNW/ - With federal funding and federal leadership, we are changing how municipalities let housing get built in their communities. With a greater focus on higher density housing, 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 Town of Stony Plain announced that they reached an agreement to fast track 161 homes in the next three years and spur the construction of over 1,384 homes over the next decade.
The agreement, under the Housing Accelerator Fund (HAF), will provide over $5 million to eliminate barriers to building the housing we need, faster. Stony Plain's Action Plan commits to seven local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. Planned initiatives will enable mixed-used redevelopment of underused municipal properties and introduce a workflow and e-permitting software that reduces application processing times for housing developments. The Town will also work to enable more affordable housing partnerships by developing legal agreements between landowners and the non-profit organizations that oversee housing units.
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 750,000 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.
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.
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:
"With initiatives like using municipal properties for housing, creating legal agreements to develop more affordable homes, and speeding up approvals for new developments, this agreement will help make sure that Stony Plain has more of the kinds of homes we need to tackle the housing crisis. We are going to keep working with municipalities, mayors, Indigenous partners, and all levels of government to get more homes built for Canadians at prices they can afford." – The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
"Stony Plain residents deserve an affordable place to call home, and programs like the Housing Accelerator Fund are making that possible. By cutting red tape and getting more shovels in the ground, we're building more homes faster, dropping housing prices, and doubling down on the work we've already set in motion to make housing more accessible in Alberta and across Canada." – The Honourable Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages
"Stony Plain is thrilled to be chosen as the recipient of the Government of Canada's Housing Accelerator Fund, a once-in-a-lifetime opportunity for our community. This significant investment in Stony Plain's growth and housing development will have a profound impact on the implementation of key initiatives in our 2024-2026 Corporate Plan, and broader Housing Strategy and Uniquely Stony Plain Municipal Development Plan. The Housing Accelerator Fund will not only advance critical projects that are essential to promoting and streamlining residential development, but also further position Stony Plain as a future-ready destination equipped for families and businesses to move to and invest in."– William Choy, Mayor of Stony Plain
Quick Facts:
- Today's announcement was made by Randy Boissonnault, Minister of Employment, Workforce Development and Official Languages, on behalf of the Honourable Sean Fraser, Minister of Housing Infrastructure and Communities, and William Choy, Mayor of Stony Plain.
- 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, an $82+ billion plan to give more Canadians a place to call home. 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 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. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.
Associated Links:
- Housing Accelerator Fund
- Housing Accelerator Fund – Building more homes, faster
- Building more homes, faster
- Making housing more affordable for Canadians
- National Housing Strategy
SOURCE Government of Canada
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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