Yahoo Finance Helping build more homes, faster in Alberta
BANFF, AB, Feb. 19, 2024 /CNW/ - With federal funding and federal leadership, we are changing how cities let housing get built in their municipalities. 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 Towns of Banff, Sylvan Lake, Bow Island, Westlock, Smoky Lake and the Village of Duchess announced that they reached agreements to fast track a combined total of over 400 homes over the next three years. This work will help spur the construction of more than 3,100 homes over the next decade.
These agreements under the Housing Accelerator Fund (HAF), will provide a combined total of over $13.8 million to eliminate barriers to building the housing we need, faster.
Banff will receive more than $4.6 million to support its Action Plan which commits to five local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. The funding will enable the reduction of parking requirements, as well as updates to the density intensification policy. Banff's Action Plan will encourage the development of accessory dwelling units by providing financial support and streamlined processing and will incentivize more housing development by creating a suite of financial tools such as tax strategies and fee waivers. Additionally, Banff will unlock efficiencies in the town's permitting process.
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 almost 600,000 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.
Quotes:
"Today's announcement will help fast-track a combined total of over 400 homes in Banff, Sylvan Lake, Bow Island, Westlock, Duchess and Smoky Lake over the next three years and over 3,100 homes over the next decade. By working with cities, towns, municipalities, mayors, and all levels of government, we are helping to get more homes built for Canadians at prices they can afford." – The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
The innovative design of the Government of Canada's HAF program will be crucial to addressing Banff's housing crisis. The funding is a catalyst for Town-led projects, while also perfectly timed with bold new changes to municipal land use rules and incentive initiatives that will encourage more private developers and property owners to create new homes in our community. This partnership demonstrates the federal government and the Town are unified in our eagerness to create new homes quickly, desperately needed for the residents who welcome Canadians to our first national park." - Corrie DiManno, Mayor of the Town of Banff
Quick Facts:
Today's announcement was made by the Honourable Sean Fraser, Minister of Housing Infrastructure and Communities, and Corrie DiManno, Mayor for the Town Banff.
For information on the Towns of Banff, Sylvan Lake, Bow Island, Westlock, Smoky Lake and the Village of Duchess's Action Plans and initiatives, please see the attached background document.
Launched in March 2023, the Housing Accelerator Fund (HAF) is a $4 billion initiative from the Government of Canada that will run until 2026-27.
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.
As of September 30, 2023, the Government of Canada has committed over $38.89 billion to support the creation of almost 152,000 units and the repair of over 241,000 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.
Associated Links:
Backgrounder
Project: Housing Accelerator Fund – Alberta Bundle
Today, the Government of Canada and the towns of Banff, Sylvan Lake, Bow Island, Westlock, Smoky Lake and the Village of Duchess announced that they reached agreements to fast track a combined 409 housing units over the next three years. This work will help spur the construction of more than 3,100 homes over the next decade.
These agreements under the Housing Accelerator Fund (HAF), will provide a total of $13,840,222 million to eliminate barriers to building the housing we need, faster.
Banff will receive $4,660,800 to support its Action Plan which commits to five local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. The funding will enable the reduction of parking requirements, as well as updates to the density intensification policy. Banff's Action Plan will encourage the development of accessory dwelling units by providing financial support and streamlined processing and will incentivize more housing development by creating a suite of financial tools such as tax strategies and fee waivers. Additionally, Banff will unlock efficiencies in the town's permitting process.
Sylvan Lake will receive $5,485,430 to support its Action Plan which commits to seven local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. The funding will allow the Town of Sylvan Lake to rezone to allow for high density residential, commercial, and mixed-use development in the downtown, unlock secondary suites, and incentivize the public, private, and non-profit sectors towards increasing the community's housing supply.
Bow Island will receive $1,568,000 to support its Action Plan which commits to six local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. The funding will allow the Town of Bow Island to update their housing processes through modernizing their land use by-law to include as-of-right zoning, digitizing their permitting process by implanting an e-permitting software solution, and regulating secondary and garden suite development. Bow Island will also encourage missing middle housing through an incentive program, and disincentivize idle land with the implementation of a Land Sale policy.
Westlock will receive $1,112,000 to support its Action Plan which commits to six local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. The funding will allow the City of Westlock to increase the supply of lots available for housing development, encourage low-density development in residential districts, and streamline housing development across town through pre-approved plans.
Duchess will receive $527,991 to support its Action Plan which commits to six local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. The funding will allow for the reduction or elimination of development fees, tax incentives for developers and amending land use bylaws to allow of missing middle. Duchess's Action Plan will also remove barriers to housing supply by enabling development on unused village-owned land, and providing serviced land to affordable housing providers committed to developing and operating housing that meets the village's criteria.
Smoky Lake will receive $486,002 to support its Action Plan which commits to five local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. The funding will allow the establishment of small and tiny dwelling neighbourhood guidelines, the creation of an affordable housing incentive program and implementing an e-permitting system for building and development applications. Smoky Lake's Action Plan will also encourage more affordable housing development by streamlining the process by which developers can purchase town-owned land to create affordable housing units.
SOURCE Government of Canada
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