Canada says its housing deals with cities will build 750,000 homes in the next decade

Canadian Press in the Ottawa Citizen
March 4, 2024
Category: Finance & Economics
Region: Canada

Sean Fraser

OTTAWA — The Liberal government has finalized all of its deals with municipalities under the housing accelerator fund, a program it says has triggered Canada’s biggest-ever movement to increase residential density. Housing Minister Sean Fraser announced Monday the federal government has signed 179 housing deals via the $4-billion housing accelerator fund. The program has “led to the largest up-zoning movement in Canadian history,” a government news release said. Ottawa says the competitive process for funding resulted in 544 applications, but only one-third of them were successful. The agreements, which run until 2026-27, are expected to help fast-track 107,000 permits within the next three years and build more than 750,000 homes over the next ten years. …Experts often point out Canada’s housing shortage is caused in part by excessive red tape, slow permitting processes and high development fees at the municipal level.

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