VANCOUVER ISLAND – The Government of Canada, along with the City of Victoria, the City of Campbell River and the Town of Comox, has jointly announced an agreement aimed at expediting the construction of over 900 homes within the upcoming three years. This initiative is anticipated to catalyze the development of more than 16,000 homes over the next decade.
Facilitated through the Housing Accelerator Fund (HAF), these agreements will allocate nearly $33.5 million to overcome obstacles hindering housing construction.
Campbell River will benefit from over $10 million to advance its Action Plan, focusing on infrastructure planning to accommodate higher density, zoning adjustments along transit corridors, expansion of residential units on existing lots, expedited development permits for non-market and purpose-built rentals, and exploration of standardized designs for accessory dwelling units and multiplexes.
“Finding a place to call home, whether buying or renting, is a challenge many Canadians are facing today. This support from the Government of Canada’s Housing Accelerator Fund will help the City of Campbell River in our ongoing efforts to tackle the housing crisis at a local level, by addressing barriers to development and fast-tracking 282 housing units over the next three years. A mix of housing types will be developed to meet the diverse needs of our community and support housing affordability, aging in place and increased rental stock. Campbell River is a beautiful, growing coastal city that offers a desirable lifestyle, and we’re committed to helping residents and prospective residents make their homes here,” said Kermit Dahl, Mayor of the City of Campbell River.
Victoria is set to receive close to $18 million to bolster its Action Plan, which encompasses seven local strategies facilitating various housing types and densities to meet community needs. The funding will incentivize affordable housing by permitting increased density and eliminating rezoning and public hearings for affordable rental units. It will also support zoning changes to accommodate medium-density housing, duplexes, multi-family dwellings, and redevelopment of underutilized sites with simplified approval processes.
“It takes collaboration and creativity to address the housing shortfall in our communities. This federal support empowers the City of Victoria to continue transforming our local housing policies and zoning processes to inspire and accelerate the development of diverse, innovative, affordable housing,” said Marianne Alto, Mayor of the City of Victoria.
Similarly, Comox will receive over $5 million to enhance its Action Plan, aiming to streamline development approvals, introduce incentives for accessory dwelling units, permit up to four units per lot, and amend bylaws to encourage higher density mixed-use buildings downtown. Additionally, infrastructure support will be provided to boost residential development, alongside digitization initiatives for faster permit approvals.
“The Town of Comox is a place of opportunity where we are seeing a trend of growth and inter-provincial migration. With the housing accelerator funds (HAF), we’re poised to revamp our development processes and bolster our commitment to diversify our current housing mix. We extend our appreciation to the Government of Canada for this significant contribution – it is one of the largest grant our Town has received. Together, we’re shaping a more inclusive future for our current and prospective residents to be a vibrant community. It is going to take all levels of government steering in the same direction and working together with expediency and solution-based actions to see an increase in supply and affordability. The Housing Accelerator Fund grant to Comox, does just that,” said Nicole Minions, Mayor of the Town of Comox.
Through HAF, efforts are underway to reduce bureaucracy and accelerate the authorization of at least 100,000 new homes within the initial three years, potentially resulting in almost 600,000 new homes over the next decade across various Canadian communities. Local governments are urged to submit innovative action plans, with upfront funding provided upon approval to ensure timely construction, along with additional funds upon achieving set targets.
The Government of Canada remains committed to enhancing affordability for Canadians, with housing being a cornerstone of its agenda. Collaborative efforts with provincial, territorial, municipal, and Indigenous partners will persist to expedite the construction of homes across the nation.
Source: Government of Canada
