$2.3 Million to Speed Up Housing Construction in Hautes-Terres
HAUTES-TERRES, NB, Feb. 13, 2025 /CNW/ - To make progress towards solving the housing crisis we need to build more homes at prices that Canadians can afford, faster. To do this we need to end restrictive zoning and speed up permitting, and add greater density, especially near transit and post-secondary institutions. The Housing Accelerator Fund (HAF) will cut this red tape and fast-track at least 112,000 new homes by 2028, which cities and regions estimate will lead to the creation of over 750,000 new homes for people in towns, cities, and Indigenous communities across Canada over the next decade.
Today, the Government of Canada and the municipality of Hautes-Terres announced that they reached an agreement to accelerate the construction of 63 homes over the next three years. This work will help spur the construction of 500 homes over the next decade. This agreement under the second round of the HAF, will provide over $2.3 million to eliminate barriers to building the housing we need, faster.
HAF requires action plans from local governments, unlocking funding to ensure the timely implementation of housing initiatives, with subsequent payments 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 municipality of Hautes-Terres' Action Plan commits to seven local initiatives such as such as updating zoning by-laws to allow for greater density and the addition of secondary suites. In addition, the city will offer financial incentives for the creation of affordable housing, the conversion of non-residential buildings into housing units and infill development. It will also make municipal land available for housing construction.
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:
"Our government is committed to removing barriers and cutting red tape to enable housing development, and these partnerships with Ontario communities will do just that." – The Honourable Nathaniel Erskine-Smith, Minister of Housing, Infrastructure and Communities
"This agreement with the municipality of Hautes-Terres is great news for our region. Thanks to this investment of over $2.3 million through the Housing Accelerator Fund, we are removing barriers and making it easier to build the homes our communities so urgently need. By supporting bold local initiatives, such as updating zoning regulations and creating financial incentives, we are ensuring that more families and workers can find an affordable place to call home here in Hautes-Terres. Together, we are building a future where everyone has access to safe and adequate housing." –Serge Cormier, Member of Parliament for Acadie-Bathurst
"This significant funding from CMHC is in line with our strategic vision for the development of the municipality of Hautes-Terres. It testifies to our determination to ensure equitable access to housing and to respond inclusively to the needs of our communities. It will enable us to create an environment where single people, people with reduced mobility and families can flourish, and where businesses will have the opportunity to prosper, in particular through the guarantee of housing for each of their employees. Finding a roof over one's head will no longer be a challenge, but a reality accessible to all. Together, we're building a collective future where everyone has a home." – Denis Landry, Mayor, Municipality of Hautes-Terres
Quick Facts:
- 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 and Canada's Housing Plan, the most ambitious federal housing plan in over 40 years. Progress on programs and initiatives are updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. The Housing Funding Initiatives Map shows affordable housing projects that have been developed.
- As of September 2024, the federal government has committed $57.57 billion to support the creation of over 156,000 units and the repair of over 297,000 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.
- 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.
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 Canada Mortgage and Housing Corporation (CMHC)