Marc G. Serré

Housing Accelerator Fund reopened and accepting applications

July 15, 2024

NICKEL BELT – GREATER SUDBURY – As of today, July 15^th 2024, the Housing Accelerator Fund (HAF) has reopened its application portal until September 13, 2024. After receiving over 500 applications in the first round, Budget 2024 has allocated an additional $400 million to the HAF. This funding aims to encourage more local governments to expedite home construction, resulting in an additional 12,000 new homes permitted over the next four years.

This new funding is exclusively available to first-round applicants who were not selected. These applicants must update and resubmit their applications, incorporating best practices from the initial round into their revised action plans to accelerate housing supply and enhance affordability.

The Canada Mortgage and Housing Corporation will review the applications, with successful candidates selected by the end of 2024. Priority will be given to ambitious and innovative applications.

In its first round, the HAF is cutting red tape and fast-tracking the permitting of at least 100,000 new homes within three years. This initiative is expected to result in over 750,000 permitted new homes across towns, cities, and Indigenous communities in Canada over the next decade. The program calls for innovative action plans from local governments and offers upfront funding upon approval, as well as additional funds for achieving results. Local governments are encouraged to adopt bold approaches, such as accelerating project timelines, increasing housing density, and promoting affordable housing units.

Quote

"Housing is top of mind for constituents. New affordable housing projects are vital for Northern Ontario and rural areas across Nickel Belt. They ensure that everyone, regardless of location, have access to safe, secure, and affordable homes, which is essential for community growth and economic stability. I encourage all eligible communities to apply without delay." – Marc G. Serré, MP for Nickel Belt, Parliamentary Secretary to the Minister of Energy and Natural Resources and Parliamentary Secretary to the Minister of Official Languages

Quick facts:

Launched in March 2023, the Housing Accelerator Fund is a $4.4 billion initiative from the Government of Canada that will run until 2027 – 28. The first round of funding totalled $4 billion, and Budget 2024 added an additional $400 million to this program.
The Housing Accelerator Fund is part of Canada’s National Housing Strategy, an $82+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives are updated quarterly at www.placetocallhome.ca. The Housing Funding Initiatives Map shows affordable housing projects that have been developed.
Please visit the Housing Accelerator Fund website for more details.
The Government of Canada will negotiate an agreement with Quebec that will further accelerate housing and provide more funding for affordable housing in the province.
On April 12, 2024, the federal government released Solving the housing crisis: Canada’s Housing Plan, supported by new investments proposed in Budget 2024.
As of March 2024, the federal government has committed $50.97 billion to support the creation of over 146,000 units and the repair of over 286,000 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.

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Media Contact:
Kaylie Dudgeon - Special Assistant
Marc G. Serré MP Nickel Belt and Parliamentary Secretary to the Minister Energy and Natural Resources an Parliamentary Secretary of Official Languages
705-507-2416
[email protected]