Helping build more homes, faster in Three Rivers

Three Rivers, Prince Edward Island, March 15, 2024

With federal funding and federal leadership, we are changing how cities let housing get built in their municipalities. With a greater focus on higher density housing, student housing, homes near transit and affordable housing, we are going to get more homes built for Canadians at prices they can afford.

Today, the Government of Canada and the Town of Three Rivers announced that they reached an agreement to fast track 116 homes over the next three years. This work will help spur the construction of more than 400 homes over the next decade.

The agreement under the Housing Accelerator Fund (HAF) will provide more than $3.4 million to eliminate barriers to building the housing we need, faster. Three Rivers’ Action Plan commits to six local initiatives including identifying underused sites and targeting areas for small-scale housing developments, and encouraging secondary homes and apartments within existing residential lots. To shorten timelines for development projects, an agreement contract will be introduced allowing developers to establish contractual obligations with the Town for common requirements, such as street and road maintenance and snow clearance. Similar contracts are normally associated with larger developments. Additionally, the Town will transition to e-platforms for accepting and issuing development permit applications and streamline operations with updated software to reduce wait times.

HAF is helping cut red tape and fast track at least 100,000 permitted new homes over the first three years, which cities and regions estimate will lead to the creation of more than 750,000 permitted new homes for people in towns, cities, and Indigenous communities across Canada over the next decade. It asks for innovative action plans from local governments, and once approved, provides upfront funding to ensure the timely building of new homes, as well as additional funds upon delivering results. Local governments are encouraged to think big and be bold in their approaches, which could include accelerating project timelines, allowing increased housing density, and encouraging affordable housing units.

The Government of Canada is making life more affordable for Canadians – and housing is key to our work. We will continue to work with provincial, territorial, and municipal governments, as well as Indigenous partners, to keep building more homes for Canadians, faster.

Quotes:

“We are excited and proud to announce this partnership with Three Rivers today. With initiatives like identifying underused sites and targeting areas for small-scale housing developments, and encouraging secondary homes and apartments within existing residential lots, the Town will ensure that Three Rivers has more of the kind of homes we need to tackle the housing crisis. We will keep working with cities, mayors, Indigenous partners, and all levels of government, to get more homes built for Canadians at prices they can afford.”
— The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

“We want to make sure every family, every senior, and every young person here in Eastern PEI, and right across our province, has a roof over their head. By working with Mayor Johnston and Council and through our investment of over $3.4 million through the federal Housing Accelerator Fund, we’re helping more folks access safe and affordable housing.”
— The Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food and Member of Parliament for Cardigan

“This is a significant investment in building more homes, and especially more affordable homes, for our growing town. Our vision is to provide for the sustainable growth of a diversity of residential housing options that attracts residents and preserves the unique and special features of Three Rivers.”
— Debbie Johnston, Mayor of the Town of Three Rivers

Quick Facts:

Today’s announcement was made by the Honourable Lawrence MacAulay, Minister of Agriculture and Agri-Food, and Mayor Debbie Johnston, Town of Three Rivers.
Launched in March 2023, the Housing Accelerator Fund (HAF) is a $4 billion initiative from the Government of Canada that will run until 2026-27.
The Housing Accelerator Fund is part of Canada’s National Housing Strategy (NHS), 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.
As of September 30, 2023, the Government of Canada has committed over $38.89 billion to support the creation of almost 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.