Canada’s Prime Minister, Justin Trudeau has announced that the federal government has reached an agreement with the City of London, Ontario, to fast-track the creation of 2,000 additional housing units over the next three years.
In a statement released from the office of the Prime Minister, stated that the FG is working together with municipalities to break down barriers and build more homes, more quickly, to help people from young families, to seniors, to newcomers find good, affordable place to call home.
It was disclosed that right now, in communities across the country, including London, Ontario, it’s too hard to build the housing especially affordable housing adding that this agreement will provide $74 million to increase the housing supply in London.
This additional housing units over the next three years alone, and to build thousands more in the years to come is the first agreement under the Housing Accelerator Fund, which was launched earlier this year to cut red tape, fix outdated local policies like zoning, and build more homes, faster.
While the agreement will provide $74 million to increase the housing supply in London and with this new funding, London will allow for high-density development without the need for re-zoning – eliminating a major barrier to creating the types of homes we need.
London will also move to allow up to four units to be built on a single property in low-density neighbourhoods, dispose of city- owned land for more development, and create partnerships with non- profit housing providers to build more affordable homes.
Overall, this plan means more homes close to public transit, more rental units for students, and more housing, ranging from duplexes and triplexes to small apartment buildings.
Moreover, the Housing Accelerator Fund helps cut red tape and fast track at least 100,000 new homes for people in towns, cities, Indigenous communities across the country.
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.
Every agreement under the Housing Accelerator Fund will require municipalities to end exclusionary zoning and encourage apartment building around public transit in order to help seniors, students, and families.
Also, 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 this work. “Our plan to double the rate of housing construction over the next decade will help build the housing supply we need.
“We will continue to work with provincial, territorial, and municipal governments, as well as Indigenous partners, to keep building more homes for Canadians, faster”, the Prime Minister said.