The Government of Canada has unveiled a $6 billion Canada Housing Infrastructure Fund to aid in building infrastructure necessary for accommodating new residential density and population growth. Prime Minister Justin Trudeau emphasized that the funding will support critical utilities infrastructure projects, including water supplies, sewerage systems, stormwater catchment, and solid waste infrastructure. Notably, the majority of the funds, amounting to $5 billion, will initially be allocated to provincial governments, with only $1 billion earmarked for municipalities. However, to access this funding, provincial governments must commit to enacting legislation that promotes higher residential density, such as enabling four units on single-family lots and freezing building development charges for three years in larger municipalities.
Additionally, the federal government announced requirements for transit-oriented development and the elimination of mandatory minimum vehicle parking requirements near frequent public transit services. Trudeau’s administration will augment the existing federal Housing Accelerator Fund with an additional $400 million to expedite home construction by streamlining municipal policies and processes.
