Over 750,000 New Homes Expected Through Housing Accelerator Fund Initiatives

Amidst a pervasive housing crisis, Canada has unveiled the Housing Accelerator Fund (HAF), a pivotal initiative aimed at facilitating the construction of over 750,000 new homes across the nation. This groundbreaking effort represents a strategic collaboration between the federal government, municipalities, and the Government of Quebec to dismantle the outdated permitting and zoning practices that have hindered housing development and affordability.

Launched in March 2023, the HAF has already set in motion the largest upzoning movement in the country’s history, securing 179 final agreements to promote ambitious housing reforms. These agreements span a diverse array of communities—from bustling metropolises to rural locales and Indigenous territories—underscoring a unified, nationwide commitment to expanding the housing supply.

With a competitive pool of 540 applicants, municipalities were encouraged to propose more audacious strategies to heighten their eligibility for federal support, showcasing a collective drive to innovate and elevate housing solutions. The HAF’s immediate impact is evident in the acceleration of over 107,000 permits for new homes in its initial three years, setting a brisk pace for future development.

As of September 30, 2023, the Government of Canada has committed over $38.89 billion to support the creation of over 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.

The Honourable Sean Fraser, Minister of Housing, Infrastructure, and Communities, has lauded the HAF as a transformative force in Canadian housing, promising to make homebuilding more feasible and affordable. This initiative is not only a testament to the government’s dedication to resolving the housing shortage but also a beacon of hope for countless Canadians aspiring to homeownership or seeking affordable rental options.

As the program advances, it continues to receive applications, sign agreements, and, most importantly, lay the groundwork for a future where accessible and affordable housing is not an exception but a norm for all Canadians.

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