Feds grant Ottawa $176M to help fast track 4,400 new housing units
Posted Feb 12, 2024 12:19:30 PM.
Last Updated Feb 12, 2024 12:39:37 PM.
The federal government is providing $176-million to the city of Ottawa through the Housing Accelerator Fund (HAF), announced minister Jenna Sudds and mayor Mark Sutcliffe in the city on Monday.
The announcement is expected to help fast track over 4,400 homes for residents in the city over the next three years, including 1,500 affordable homes, according to the minister.
“The funding announced today represents a significant investment towards made-in-Ottawa solutions to get homes built faster, and support the systemic changes needed to address our housing challenges,” said mayor Mark Sutcliffe.
He added that the funds, in addition to the city’s by-law review and new Official Plan, would hopefully help address the housing crisis.
This is just the latest step the city is taking to help deal with Ottawa’s housing crisis, which includes a recently approved construction of a high-rise building set to add 289 affordable housing units.
In November, city council approved a motion to include four units as of right city-wide as part of a by-law review process. The city is expected to make the changes in the first half of 2024.
In long term planning, Sudds said the new agreement will help build 36,000 units in the city over the next 10 years.
The fund is meant to cut red tape and fast track local zoning policies. So far, HAF has allocated $4-billion across the country that is set to continue until 2027.
