Town receives $14 million from Housing Accelerator Fund

Government of Canada and Town reach agreement to accelerate construction of 485 homes

By ZACHARY ROMAN

Local Journalism Initiative Reporter

Caledon has received funding to fast-track the development of new homes in Town.

On January 30, the Government of Canada and Town of Caledon announced they'd reached an agreement to accelerate the construction of 485 homes over the next three years. 

Caledon will be receiving nearly $14 million from the Housing Accelerator Fund (HAF) to meet this goal.

According to a news release from the Canada Mortgage and Housing Corporation (CMHC), Canada's national housing agency, the funding will also spur the construction of 6,250 additional homes in Caledon over the next decade.

The CMHC noted local governments must have action plans in order to receive HAF money. 

Caledon's plan to speed construction of housing includes implementing e-permitting technology; creating financial incentives for multiplexes; updating zoning bylaws to allow for increased height and density in strategic growth areas; and leveraging Town-owned vacant land to develop affordable and attainable housing. 

The January 30 announcement was made at the Southfields Community Centre, and among those in attendance were Caledon Mayor Annette Groves; Minister of Housing, Infrastructure and Communities Nathaniel Erskine-Smith; and Minister of Democratic Institutions Ruby Sahota.

Erskine-Smith said the Government is committed to removing barriers and cutting red tape to enable housing development.

Sahota said making housing affordable in the future means increasing housing supply now.

“The Town of Caledon has put forward an ambitious plan to build housing and that will not only grow the supply of housing in Caledon but will also help to alleviate housing pressures in the region,” said Sahota.

Groves said Caledon is very pleased to receive funding to speed up construction of housing. 

“I thank our federal partners for this funding to bring new homes to Caledon including affordable and missing middle units,” she said. “The Town of Caledon has taken bold steps to address the housing shortage. Housing is a foundational component of individual and social prosperity and we are ready to build complete communities to further Caledon's Strategic Plan.”

Groves said the money from the HAF will allow Caledon to build new homes that meet the diverse needs of Caledon residents. 

“This is about making sure everyone has a place to call home in Caledon,” said Groves. “Today's announcement is more than just an investment in housing, it's an investment in people, in families and in the future of our town of Caledon.”

Erskine-Smith said rewarding ambition at the municipal level is essential and that it's what the HAF is all about.

“We want our municipal partners to cut red tape, to speed up approval processes, to make sure they're making public land available to drive greater affordability,” said Erskine-Smith.

Sahota said it's no secret that housing has become unaffordable and that it's time for bold action.

“Today, we are taking a step in the right direction,” said Sahota. “By working together with all levels of government, with builders, with community leaders and with the people of Caledon, we can continue to push for the kind of housing solutions that will make a real difference.”