Ontario Construction News staff writer
The City of Hamilton has signed a $93.5-million agreement under the federal Housing Accelerator Fund and has agreed to fast track 2,600 housing units over the next three years.
The housing accelerator fund is a $4-billion federal program to fast track at least 100,000 new homes in communities across Canada by requiring “innovative action plans” from local governments in return for upfront funding to build new homes, as well as additional funds upon delivering results.
“Today’s announcement will help fast track over 2,600 permitted units in the next three years and 9,000 units over the next decade,” said Housing Minister Sean Fraser. “By working with cities, mayors and all levels of government we are helping to get more homes built for Canadians at prices they can afford.”
Hamilton has also committed to expanding as-of-right zoning permission for housing and amend a zoning by-law to allow for the construction of four residential units on single lots. High-density development will be built near rapid transit, including the future Hamilton LRT stations and make city-owned lands and brownfields available for development.
“I want Hamilton to be a great place to live for people of all ages and income levels,” said Mayor Andrea Horwath. “To keep our city affordable, we need to introduce a range of new housing options and introduce innovative new approaches to creating and preserving housing.”
Hamilton is the 3rd city in Canada to receive money from federal fund. 4
“The $93.5 million will speed up the creation of housing through seven initiatives, including zoning reform, accelerated permit response times to land acquisition, and brownfield development,” Horwarth said.