RIVERVIEW, NB, June 24, 2024 /CNW/ - With federal funding and federal leadership, we are changing how municipalities let housing get built in their communities. With a greater focus on higher density housing, student housing, homes near transit and affordable housing, we are going to get more homes built for Canadians at prices they can afford.

Today, the Government of Canada and the Town of Riverview announced that they reached an agreement to fast track over 135 homes in the next three years and spur the construction of 456 homes over the next decade.

The agreement, under the Housing Accelerator Fund (HAF), will provide over $4.9 million to eliminate barriers to building the housing we need, faster. Riverview's Action Plan commits to eight local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. Planned initiatives include reducing parking requirements in specific zones to make development projects more financially viable, increasing maximum building heights in targeted areas, and creating incentive programs that encourage multi-family residences, higher density, and more affordable housing options.

HAF is helping cut red tape and fast track at least 100,000 permitted new homes over the first three years, which cities and regions estimate will lead to the creation of over 750,000 permitted new homes for people in towns, cities, and Indigenous communities across Canada over the next decade. 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 making life more affordable for Canadians – and housing is key to our work. We will continue to work with provincial, territorial, and municipal governments, as well as Indigenous partners, to keep building more homes for Canadians, faster.

"We are excited and proud to announce this partnership with Riverview today. By reducing parking requirements, increasing building heights, and incentivizing more multi-family residences, the Town will ensure that Riverside has more of the kind of homes we need to tackle the housing crisis. We will continue working with towns, cities, mayors, Indigenous partners, and all levels of government, to get more homes built for Canadians at prices they can afford." – The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities  

"Through the Housing Accelerator Fund, our government is helping to remove barriers, encourage building and simplify the construction of new homes. Municipalities like Riverview are responding with action to the housing crisis facing our communities and the federal government is stepping up with support. Together, we will meet the challenges we face with the tools we need." – The Honourable Ginette Petitpas Taylor, Minister for Veteran Affairs and Associate Minister of National Defence, and Member for Moncton-Riverview-Dieppe  

"Riverview is experiencing rapid growth and intentional development is needed to meet the rising demand for a variety of housing types. The Housing Accelerator Fund will help us fast-track the innovation and housing unit increase necessary for current residents to stay in town and for many future residents to call Riverview home."– Andrew LeBlanc, Mayor of Riverview

• Today's announcement was made by the Honourable Ginette Petitpas Taylor, Minister of Veterans Affairs and Associate Minister of National Defence and Member for Moncton–Riverview–Dieppe, and Andrew LeBlanc, Mayor of Riverview.
• Launched in March 2023, the Housing Accelerator Fund is a $4 billion initiative from the Government of Canada that will run until 2026-27. Budget 2024 proposes an addition al $4.4 million to this program.
• The Housing Accelerator Fund is part of Canada's National Housing Strategy, 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.
• On April 12, 2024, the federal government released Solving the housing crisis: Canada's Housing Plan, supported by new investments proposed in Budget 2024.
• As of March 2024, the federal government has committed $50.97 billion to support the creation of over 146,000 units and the repair of over 286,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.

• Housing Accelerator Fund
• Housing Accelerator Fund – Building more homes, faster
• Building more homes, faster
• Making housing more affordable for Canadians
• National Housing Strategy

SOURCE Government of Canada