FAQs
- Initiative 1 Create a Surplus Lands Program for Affordable Housing
- Initiative 2 Develop a Parking Management Strategy
- Initiative 3 Regulatory Changes to Support Housing
- Initiative 4 Create a Priority Approvals Stream for Housing Projects
- Initiative 5 Development Incentives Program
What is the Housing Accelerator Fund?
The Housing Accelerator Fund is designed to help local governments 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.
The Housing Accelerator Fund 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.
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.
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.
What does Town of Yarmouth's plan include?
Through the Housing Accelerator Fund investment, the Town of Yarmouth has set a Housing Supply Growth Target of 119 net new residential units over the next three years. To ensure the success of this ambitious goal, the Town has developed a comprehensive HAF Housing Action Plan, featuring five strategic initiatives designed to drive housing development.