Helping build more homes, faster on Vancouver Island

Victoria, British Columbia, February 16, 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, the City of Victoria, the City of Campbell River and the Town of Comox announced that they reached an agreement to fast-track a combined total of over 900 homes over the next three years. This work will help spur the construction of more than 16,000 homes over the next decade.

The agreements under the Housing Accelerator Fund (HAF), will provide a total of almost $33.5 million to eliminate barriers to building the housing we need, faster.

Victoria will receive almost $18 million to support its Action Plan which commits to seven local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. The funding will incentivize affordable housing by allowing greater density and eliminating rezonings and public hearings for affordable rental housing. It will continue the introduction of zoning changes to support the delivery of medium-density, duplex and multi-family housing such as townhouses and multiplexes and the redevelopment of underused sites as-of-right across the city, with up to six units per lot and up to twelve units on corner lots. It will also explore strategies to improve and modernize development application intake, review, and approval processes.

Campbell River will receive over $10 million to support its Action Plan which commits to seven local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. The funding will allow for infrastructure planning to support higher density throughout the city and zoning permissions along transit corridors. Throughout the city, it will also expand four units as-of-right on existing residential lots, fast-track development permit applications for non-market and purpose-built rental, and will explore standardized designs for accessory dwelling units, duplexes and multiplexes.

Comox will receive over $5 million to support its Action Plan which commits to seven local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. The funding will streamline development approval processes, introduce incentives for accessory dwelling units, enable up to four units as-of-right throughout the Town, reduce parking requirements. Bylaws will be amended to promote redevelopment of higher density, mixed-use buildings downtown. It will also provide infrastructure support to increase residential development, digitize and facilitate faster development and permit approvals.

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 almost 600,000 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:

“Today’s announcement will help fast-track a combined total of over 900 homes in Victoria, Campbell River and Comox over the next three years and over 16000 homes over the next decade. By working with cities, towns, mayors, and all levels of government, we are helping to get more homes built for Canadians at prices they can afford.”
— The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

“We’re changing the way we build homes in Canada. And we can only do that by working with municipalities. Our partnerships with Victoria, Campbell River and Comox will help build more homes, faster, at prices working families can afford.”
— The Honourable Seamus O’Regan, Minister of Labour and Seniors, Member of Parliament for St. John’s South – Mount Pearl

“It takes collaboration and creativity to address the housing shortfall in our communities. This federal support empowers the City of Victoria to continue transforming our local housing policies and zoning processes to inspire and accelerate the development of diverse, innovative, affordable housing.”
— Marianne Alto, Mayor of the City of Victoria

“Finding a place to call home, whether buying or renting, is a challenge many Canadians are facing today. This support from the Government of Canada’s Housing Accelerator Fund will help the City of Campbell River in our ongoing efforts to tackle the housing crisis at a local level, by addressing barriers to development and fast-tracking 282 housing units over the next three years. A mix of housing types will be developed to meet the diverse needs of our community and support housing affordability, aging in place and increased rental stock. Campbell River is a beautiful, growing coastal city that offers a desirable lifestyle, and we’re committed to helping residents and prospective residents make their homes here.”
— Kermit Dahl, Mayor of the City of Campbell River

“The Town of Comox is a place of opportunity where we are seeing a trend of growth and inter-provincial migration. With the housing accelerator funds (HAF), we’re poised to revamp our development processes and bolster our commitment to diversify our current housing mix. We extend our appreciation to the Government of Canada for this significant contribution — it is one of the largest grant our Town has received. Together, we’re shaping a more inclusive future for our current and prospective residents to be a vibrant community. It is going to take all levels of government steering in the same direction and working together with expediency and solution-based actions to see an increase in supply and affordability. The Housing Accelerator Fund grant to Comox, does just that.”
— Nicole Minions, Mayor of the Town of Comox

Quick facts:

Today’s announcement was made by the Honourable Seamus O’Regan, Minister of Labour and Seniors and Member of Parliament for St. John’s South – Mount Pearl, — on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, — and Marianne Alto, Mayor of the City of Victoria.
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.