The federal government announced through its Housing Accelerator Fund $4.3 million for the City of Port Colborne to help build 128 homes over the next three years.
The announcement was made through a press release issued by the Canada Mortgage and Housing Corporation (CMHC).
The Housing Accelerator Fund requires action plans from local governments to receive federal funding, plans that demonstrate that homes will be built faster and in a way that increases housing density and housing affordability.
Niagara Centre MP Vance Badawey was quoted in the press release.
“To solve the housing crisis, we need to build more homes that Canadians can afford – faster,” said Badawey. “Through the Housing Accelerator Fund, we’re working with the city to cut red tape, speeding up permits and increasing density.”
“Today’s $4.3 million agreement with the City of Port Colborne will help fast-track 128 homes in the next three years and lay the groundwork for 1,175 homes over the next decade. We’re working to make housing more affordable and accessible for everyone.”
Port Colborne Mayor Bill Steele also touted the announcement, pointing to the success of the City’s strategic plan in meeting the federal government’s requirements to receive Housing Accelerator funding.
“This funding is integral in supporting the City of Port Colborne’s Strategic Plan to increase housing options,” said Steele. “It will help to move forward much-needed housing projects and partnerships while also contributing to an increase in the overall housing supply by developing new policies to spur future development.”
Port Colborne’s Strategic Plan commits to a number of initiatives, such as updated to the Official Plan and zoning bylaws to encourage the development of more medium- and high-density housing, as well as permitting four units as-of-right across the city. Another key piece is a new electronic planning application system.
Also included in the plan is an initiative to reduce parking spaces for new residential and mixed-use developments, which officials say will help lower construction costs, encourage higher-density development, and enhance Port Colborne’s walkability and public transit access.
The federal government’s Housing Accelerator Fund was launched in March 2023 and is worth $4.4 billion. Present funding for the Fund runs through 2027-28.
Jay Goldberg is the Ontario Director at the Canadian Taxpayers Federation. He previously served as a policy fellow at the Munk School of Public Policy and Global Affairs. Jay holds a Ph.D. in Political Science from the University of Toronto.
