On Friday, MP Sahota alongside the Rt. Honourable Prime Minister Justin Trudeau, Minister Sean Fraser and fellow Liberal colleagues announced a housing investment of $114 million through the Housing Accelerator Fund to fast-track over 3,150 new housing units over the next three years. This work will help the construction of more than 24,000 homes over the next decade and help meet the demand in Brampton.
With a rapidly increasing population growth rate, the City of Brampton is one of the fastest growing municipalities in Canada and this agreement aims to eliminate barriers to build more affordable homes in Brampton, faster. This investment will benefit hundreds of middle-class families in Brampton who are facing expensive housing costs by providing them with affordable rental housing units by May 2024 (anticipated completion date).
The funding will allow for high-density development near the city’s urban centres, boulevards, major public transit stations and Brampton has also committed to permitting four residential units and four storeys within 800 metres of transit, which covers the vast majority of the city. These initiatives are going to significantly improve the way housing is built in one of Canada’s fastest growing municipalities.
The Housing Accelerator Fund is helping cut red tape and fast track the construction of at least 100,000 new homes for Canadians across the country. By providing this funding, local municipalities are encouraged to think ambitiously, which could include accelerating project timelines, allowing increased housing density, and encouraging affordable housing units to fill major housing gaps. The Government of Canada is making life more affordable for Canadians – and housing is key to that work. Our plan to double the rate of housing construction over the next decade will help build the housing supply we need. We will continue to work with provincial, territorial, and municipal governments to keep building more homes for Canadians, faster, and make life more affordable.
“We need to build more homes, faster. That means working with Mayors that want to cut red tape and help change the way we build homes in this country. It’s what today’s announcement in Brampton is all about. By investing in programs like the Housing Accelerator Fund, we’re building the foundation for a more stable, affordable, and prosperous life for millions of Canadians from coast to coast to coast.”
– The Rt. Hon. Justin Trudeau, Prime Minister of Canada
“Federal initiatives like the Housing Accelerator fund are crucial to encourage collaboration among municipalities to find innovative solutions to faster and more affordable housing. This is a significant investment for Brampton residents, and hundreds of middle-class families will benefit from this investment. We are committed to making life more affordable for Canadians, and that begins with innovative housing solutions like this one.”
– Ruby Sahota, Member of Parliament – Brampton North
“The City of Brampton is a committed partner in the solution for more affordable housing for residents. We are thankful for the Government of Canada’s continued partnership and investment in our community, including today’s announcement of $114M through the Housing Accelerator Fund with a goal of creating more than 24,000 homes over the next decade, through the City’s new Official Plan, Housing Strategy and Action Plan, and Municipal Housing Pledge. This growth will be supported sustainably and strategically, focusing on higher-density development near transit corridors to ensure that while we’re meeting the needs of residents, we’re also reducing barriers to the development of housing in key areas of the City further spurring new incentive programs for affordable housing.”
– His Worship Patrick Brown, Mayor of Brampton