Member of Parliament Ruby Sahota, flanked by Prime Minister Justin Trudeau, Minister Sean Fraser, and Liberal colleagues, unveiled a game-changing housing investment of $114 million in Brampton. This transformative initiative, funded through the Housing Accelerator Fund, is set to expedite the construction of 3,150 new housing units within three years, addressing the surging demand for homes in the rapidly growing city.
Brampton, known for its booming population, has become one of Canada’s fastest-growing municipalities. This federal investment aims to eliminate barriers to constructing affordable homes, providing relief to middle-class families struggling with high housing costs. These affordable rental housing units are expected to be completed by May 2024.
The funding will support high-density development near urban centers, boulevards, and transit stations, with Brampton committing to allowing four residential units and four stories within 800 meters of transit, covering most of the city. These initiatives promise to revolutionize housing in Brampton.
The Housing Accelerator Fund, designed to streamline construction and reduce red tape, aims to create 100,000 new homes nationwide. By providing funds to local municipalities, it encourages ambitious projects, faster timelines, increased housing density, and affordable housing integration. The government’s plan to double housing construction over the next decade is focused on making life more affordable.
Prime Minister Justin Trudeau emphasized, “We need to build more homes, faster. That means working with Mayors who want to cut red tape and change the way we build homes. By investing in programs like the Housing Accelerator Fund, we’re building a foundation for a stable, affordable life for Canadians.”
MP Ruby Sahota highlighted the importance of federal initiatives like the Housing Accelerator Fund in fostering collaboration among municipalities for faster, affordable housing. She reaffirmed the commitment to making life more affordable for Canadians through innovative housing solutions.
The City of Brampton, a dedicated partner in affordable housing, expressed gratitude for the Government of Canada’s investment. The city’s commitment to creating over 24,000 homes in the next decade, aligned with its Official Plan and Housing Strategy, reflects a strategic approach. Higher-density development near transit corridors will cater to residents’ needs and reduce housing development barriers, promoting affordable housing.
The $114 million federal investment through the Housing Accelerator Fund marks a pivotal moment for Brampton, ushering in accelerated housing construction and enhanced affordability. This collaborative effort underscores a shared commitment to improving Canadians’ quality of life through accessible, affordable housing.