After years of buildup, the Canadian government's Housing Accelerator Fund has finalized its first agreement, providing the city of London, Ontario with $74M to boost housing supply.The Housing Accelerator Fund — the brainchild of the federal government, conceptualized in 2021 and officially launche...
The Housing Accelerator Fund is a $4B initiative intended to fast-track the creation of 100,000 new middle-class homes across Canada by 2024-2025.After years of buildup, the Canadian government's Housing Accelerator Fund has finalized its first agreement, providing the city of London, Ontario with $74M to boost housing supply.officially launched
The $74M provided to London will allow the city to speed up the construction of over 2,000 additional housing units over the next three years, "and build thousands more in the years to come," the federal government said. Under the federal program, high-density homes will be able to be built without the need for re-zoning — an often lengthy process generally carried out on a municipal level that eats up both time and money.
To create even more homes, London is simultaneously moving to allow up to four units to be built on a single property in low-density neighbourhoods, dispose of City-owned land for more developments, and partner with non-profit housing providers to build more affordable homes. Fraser notes that the agreement with London is "just one of many agreements" that will be signed with municipalities across the country.
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Feds unveil first deal for new housing accelerator fund in LondonLONDON, Ont. — More than 2,000 new housing units should be built in London, Ont., over the next three years as the city became the first in the country to sign a deal under the new national housing accelerator fund Wednesday.
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Feds unveil first deal for new housing accelerator fund in LondonLONDON, Ont. — More than 2,000 new housing units should be built in London, Ont., over the next three years as the city became the first in the country to sign a deal under the new national housing accelerator fund Wednesday.
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