Removing barriers to build more homes, faster in Vancouver, British Columbia

VANCOUVER, BC, Dec. 15, 2023 /CNW/ – Right now, in communities across the country, building the housing we need, especially affordable housing, is too hard. That’s why the federal government is working with municipalities to break down barriers and build more homes, faster so Canadians – from young families, to seniors, to newcomers – can find a place to call home, at a price they can afford.

The Prime Minister, Justin Trudeau, today announced that the federal government has reached an agreement with the City of Vancouver, British Columbia, to fast-track over 3,200 new housing units over the next three years. This work will help spur the construction of more than 40,000 homes over the next decade and help meet the demand in Vancouver.

Under the Housing Accelerator Fund, this agreement will provide almost $115 million to eliminate barriers to build the housing we need, faster. It will allow for high density development including multiplexes and apartment buildings, help fast-track development processes, and build housing near public transit. As part of the agreement, Vancouver will work to streamline re-zoning laws, expand affordable rental programs, cut red tape, and unlock non-market housing. These initiatives are going to significantly improve the way housing is built in one of Canada’s largest cities.

The Housing Accelerator Fund is helping cut red tape and fast track the construction of over 250,000 new homes for people in towns, cities, and Indigenous communities across Canada. 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.

The Government of Canada is supporting the middle class – and housing is key to that 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, and make life better for everyone.

“Like so many cities across Canada, Vancouver needs more homes, and fast. That’s why we’re working with mayors across the country to cut red tape and change the way we build housing. Today’s announcement with Vancouver will help build more homes, faster, so that every Canadian has a good place to call their own.”
— The Rt. Hon. Justin Trudeau, Prime Minister of Canada

“Today’s announcement will help fast track 3,200 homes in the next three years and over 40,000 homes over the next decade. By working with cities, mayors, and all levels of government, we are helping to get more homes built for Canadians at prices they can afford.”
— The Hon. Sean Fraser, Minister of Housing, Infrastructure and Communities

“The housing crisis is a nationwide problem that extends beyond the borders of any single municipality. The City of Vancouver is grateful to the Government of Canada for their support as we continue working together to build more homes faster and create a brighter future for all Vancouverites.”
— His Worship Ken Sims, Mayor of Vancouver

As the largest city in British Columbia, Vancouver is the economic and cultural centre in a rapidly growing region. Vancouver is expected to add 260,000 more people and up to 210,000 more jobs by 2050.The City of Vancouver’s Housing Action Plan aims to build more housing with a variety of density to meet the needs of the local community.The Housing Accelerator Fund is a $4 billion initiative from the Government of Canada that will run until 2026-27. It is designed to help cities, towns, and Indigenous governments unlock new housing supply through innovative approaches.The Province of British Columbia recently introduced comprehensive changes to legislation that impact how local governments plan and regulate housing. Certain communities, including communities in Vancouver, are required to achieve specific housing targets. The legislation changes mandate municipalities to enable the development of all types of housing from secondary suites to higher-density apartments, depending on size and location. This includes designating Transit Oriented Development Areas near transit hubs and allowing minimum housing densities. Due to strong program alignment between the Housing Accelerator Fund and the provincial initiatives, HAF funding will support Vancouver in meeting these goals. The Prime Minister has recently announced three other HAF agreements in Ontario, including in Brampton, London, and Vaughan. The Government of Canada has announced a further seven HAF agreements this year, in Richmond Hill, Calgary, Kitchener, Kelowna, Hamilton, Halifax, and Moncton. Combined, these agreements will fast track the creation of over 35,000 additional housing units over the next three years alone, and thousands more units in the years to come. An agreement has also been reached with the province of Québec.The Housing Accelerator Fund is part of Canada’s National Housing Strategy (NHS), 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.Since the creation of the NHS, the Government of Canada has committed over $38.89 billion to support the creation of over 151,803 units and the repair of over 241,133. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.Since 2015, the government has helped almost two million Canadians find a place to call home.

Housing Accelerator FundHousing Accelerator Fund – Building more homes, fasterMaking housing more affordable for CanadiansNational Housing Strategy

This document is also available at https://pm.gc.ca

SOURCE Prime Minister’s Office