October 6, 2023
The federal government has reached an agreement with the City of Vaughan, Ontario, to fast track over 1,700 new housing units and incentivize thousands of additional homes 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 one of Canada’s fastest-growing cities.
This agreement, under the Housing Accelerator Fund, will provide over $59 million to eliminate barriers to building the housing we need, faster. It will allow for high-density development near public transit, including GO train and subway stations, prioritize building apartments and affordable housing, and fix outdated permitting systems to speed up development. Vaughan will also amend a zoning by-law to allow for the construction of up to four residential units on one lot.
The Housing Accelerator Fund is helping cut red tape and fast track at least 100,000 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 making life more affordable for Canadians – 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 more affordable.