Justin Trudeau stops in Guelph to launch $4 billion housing fund
CTV
Prime Minister Justin Trudeau stopped in Guelph Friday to announce a $4 billion housing accelerator fund.
Prime Minister Justin Trudeau stopped in Guelph Friday to announce a $4 billion housing accelerator fund.
Trudeau says the money will help eliminate barriers to create more homes, especially affordable units.
The announcement was made at Grace Garden in Guelph. The building, which used to be a motel, is currently being converted to affordable housing. Its 32 units are expected to be ready in two months.
The federal government says they’re aiming to fast track 100,000 homes in the next decade.
Trudeau says they’ll directly fund municipalities that submit action plans with a goal to “build more faster,” though methods like accelerating project approval timelines, increasing densification and freeing up unused land – all while keeping affordable housing units in mind as well.
Trudeau says this is not a fund for luxury units of small changes – it’s about “transformational change.”
“The boldest plans resulting in the most housing units, especially affordable units will be rewarded. This fund will adapt to local housing needs, it will be a flexible tool designed to help cities and communities unlock major new supply of housing, for example initiatives like updating permitting systems, tackling nimbism, zoning reforms, transit oriented development,” Trudeau said.
