Brampton gets $114M federal investment to build 24,000 homes through Housing Accelerator Fund
Published October 20, 2023 at 11:07 am
Brampton is the latest municipality to get a massive funding boost from the feds to help with the housing crisis, with plans to bring some 24,000 new homes to the city over the next decade.
Prime Minister Justin Trudeau made the announcement in Brampton on Friday (Oct. 20), committing $114 million in funding to kick-start the construction of housing projects in the city.
Housing Minister Sean Fraser said the funding will allow for the fast-track construction of 3,150 homes in the next three years and some 24,000 homes over 10 years, and Mayor Patrick Brown says the investment will build on council’s efforts and “unlock significant housing growth.”
“This city is booming in population growth, and that means we need housing…we’re going to make sure this is the easiest place to build houses in Canada,” Brown said, thanking the federal government, Fraser and Trudeau for the funds.
London was the first municipality to get approval under the program for $74 million, and Vaughan signed an agreement with the feds earlier this month.
Brampton MP Kamal Khera (left) Prime Minister Justin Trudeau (centre) and Housing Minister Sean Fraser (right) make an announcement in Brampton on Oct. 20, 2023.
Housing Accelerator applications require an “Action Plan” with a minimum of seven initiatives, a housing supply growth target and additional targets set for different types of housing projects.
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Brampton’s Housing Accelerator application outlines eight initiatives, including incentives for purpose-built affordable housing units, scaling up construction of units in key transit corridors, and encouraging the development of more “garden suites” on low-density properties.
Council made changes to its application after receiving feedback from Fraser in September, including doubling the radius of four-storey buildings within support corridors from 400 metres to 800 metres; reducing restrictions on additional residential units (ARUs) from 35 square metres to at least 100 square metres; and increasing the number of as-of-right developments from three to four.
Fraser said coming to a deal with Brampton was like “pushing on an open door,” commending both the city and mayor Brown for the “ambitious application focused on creating incentives for affordability.”
Friday’s announcement was at least the second time Trudeau made a stop in Brampton in as many months, meeting with residents as well as Brampton Centre MP Shafqat Ali at the Gore Meadows Community Centre in September. During the visit Trudeau said he spoke with families, students and seniors “about the challenges they’re facing – and the work we’re doing to address the high cost of groceries and housing.”
The feds also announced on Friday an additional $1.5 million for the Regional Peel’s 2051 Transportation Master Plan.
insauga's Editorial Standards and Policies advertisingBrampton is one of the fastest-growing cities in Canada. To help keep up with demand, and to drive down costs, we’re fast-tracking the construction of more than 3,000 homes over the next three years – and more than 24,000 over the next ten years. https://t.co/AlUUrWzWj2 pic.twitter.com/aWso92eD5A
— Justin Trudeau (@JustinTrudeau) October 20, 2023