Over 800 new homes coming to Milton over next three years
Published January 22, 2024 at 12:49 pm
Milton will receive over $22 million from the federal government’s Housing Accelerator Fund (HAF) to help it build more housing, with more than 800 new units expected to crop up over the next three years.
Today (Jan. 22), the federal government announced the funding at a press conference in the town. The funding, which is being doled out to municipalities across the country, is intended to help build homes that are higher-density, affordable, suitable for students and located near transit.
According to a news release, the $22 million will be used to help construct close to 4,700 homes over the next 10 years.
Milton’s housing action plan also includes eight initiatives, such as developing affordable housing, allowing four units on one lot (often referred to as fourplex-style housing), building more and denser types of housing close to transit areas, increasing the town’s rental stock, enhancing permit approval timelines to speed up construction and delegating decision-making for minor zoning variances to town staff.
“The Town of Milton is thankful for the investment of over $21 million from Prime Minister Trudeau and Minister [Sean] Fraser, as part of the Government of Canada’s commitment to expedite building homes in our community. As one of Ontario’s most rapidly expanding areas, Milton remains dedicated to cultivating a diverse housing landscape, and we are optimally positioned to contribute to achieving our provincial goal of adding 21,000 new housing units by 2031,” Milton Mayor Gordon Krantz said in a statement.
“The pursuit of this housing solution necessitates concerted efforts from various levels of government and the private sector. The Housing Accelerator Funding plays a pivotal role in supporting several crucial initiatives within Milton, fostering collaboration among all sectors, and ensuring the realization of our collective housing objectives.”
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The town, much like other Canadian municipalities, is also expected to meet housing targets set by the provincial government. In 2022, the province said it wants the town to build 21,000 housing units by 2031.
The province also set ambitious targets for other Halton towns and cities, with Burlington expected to build 29,000 new homes and Oakville tasked with building 33,000 new units.
In a news release, the federal government said HAF will help fast-track approximately 100,000 new homes over the next three years.
The fund was launched in a bid to alleviate the ongoing housing crisis that has seen house prices and rental rates climb dramatically in recent years as more people compete for a limited supply of units.
The fund is designed to propel the creation of more than 450,000 units across Canada over the next decade.
“By building more affordable homes more quickly, our government is unlocking new opportunities for growth in Milton,” Milton MP Adam van Koeverden said in a statement.
“Working together, we can equip our communities with new tools to support them to reach their potential and turn possibilities into realities.”
Launched in March 2023, the HAF is a $4 billion initiative that will run until 2026-27.
As of Sept. 30, 2023, the government has committed over $38.89 billion to support the creation of almost 152,000 units and the repair of over 241,000 units.
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