TORONTO – Richmond Hill joins the beneficiaries of the federal government’s Housing Accelerator Fund: today, in fact, the Federal Housing Minister, Sean Fraser, announced that an agreement has been reached to provide the GTA city with over 31 million dollars to encourage new housing construction, and these funds will help accelerate the construction of more than 780 housing units over the next three years and spur the construction of more than 41,500 homes over the next decade.
“I thank the federal government for this investment, which will help encourage and incentivize developers to create affordable homes for Richmond Hill’s working people, seniors and multi-generational families who want to live close to each other in our community” said David West, Mayor of Richmond Hill, during the meeting with Minister Fraser. “This is just one step toward solving the housing crisis, but it’s an important one. We will continue to work with other levels of government to bring more affordable housing to those who want to make Richmond Hill their home”.
The Housing Accelerator Fund (HAF) is a $4 billion initiative intended to accelerate the creation of 100,000 new homes across Canada by 2026-2027. More than a half-dozen cities, including Kelowna, Kitchener and Calgary, have signed deals ranging from $31.5 million to $228 million. “City-by-city, we are making deals across Canada, to cut red tape and get more homes built, faster. And as a result of our partnership with Richmond Hill, the city projects this will build tens of thousands of homes over a decade” Minister Fraser wrote on Twitter X today after meeting with Mayor West.
To access funding, local governments are required to submit an application that outlines their supply growth goals, as well as specific initiatives they intend to undertake in an effort to increase supply and speed up approvals.
The Richmond Hill HAF deal focuses primarily on increasing density and affordable housing, including encouraging missing intermediate housing and transit-oriented development. Initiatives include zoning changes to allow up to four units in residential areas where accessory dwelling units are permitted, allowing residential buildings of up to four stories in major transit station areas, accelerating housing-related infrastructure, and incentivizing affordable housing.
“More housing will unlock many new growth opportunities in Richmond Hill. Safe, affordable housing is a catalyst that enables Canadians to achieve other goals – from raising healthy children to pursuing education, jobs and opportunity” said Majid Jowhari, member of Parliament for Richmond Hill. “Proud to witness transformative investments in Richmond Hill, resulting from the strong collaboration between our government and Municipalities. Together, we are breaking down barriers and building more homes in Richmond Hill and across Canada”.
In the pic above, Federal Minister Sean Fraser with David West, Mayor of Richmond Hill (photo from Twitter X – @SeanFraserMP)
