Trudeau announces 'first of many' Housing Accelerator Fund municipal agreements
CTV
Prime Minister Justin Trudeau has announced the 'first of many' municipal agreements under the federal government's Housing Accelerator Fund. Through this $4 billion program, the Liberals are targeting the creation of 100,000 net new housing units across Canada.
Prime Minister Justin Trudeau has announced the "first of many" municipal agreements under the federal government's Housing Accelerator Fund.
Framed as a new way forward and part of a multi-pronged housing strategy, the Liberals say the $74 million deal with London, Ont. will fast-track the creation of more than 2,000 housing units over the next three years, and build thousands more in the years following.
These housing units will include high-density development without the need for re-zoning, and get rid of city-owned land for more development ranging from duplexes and triplexes to small apartment buildings close to public transit, according to the government.
Through this fund, the government is targeting the creation of 100,000 net new housing units across Canada, and the Liberals are trying to drive home through Wednesday's announcement that as similar deals are struck with other cities, thousands of more affordable homes will come onto the market.
"Everyone deserves a good place to call home… This landmark agreement with London will be the first of many, and we look forward to working with all orders of government to help everyone find a place to call their own," Trudeau said in a news released issued Wednesday.
The announcement does not include new funding, as the $4-billion Housing Accelerator Fund was first promised in the 2021 federal election, and the money was earmarked in the 2022 federal budget as part of a $10-billion housing-focused package.
Trudeau officially launched the fund in March of this year.
