VAUGHAN, Ont. — Prime Minister Justin Trudeau says the federal government has reached an agreement with Vaughan, Ont., to fast-track the building of more than 1,700 new housing units.
Trudeau told reporters in Vaughan, Ont., that the government will also incentivize thousands more homes over the next three years.
The agreement with Vaughan has been made under the national housing accelerator fund, a $4-billion program first announced in the spring 2022 federal budget, but for which applications weren't accepted until July.
The federal government says the agreement will provide more than $59 million to Vaughan to eliminate barriers to building housing.
Trudeau said it will allow for high-density development near public transit, prioritize building apartments and affordable housing, and fix outdated permitting systems.
He said Vaughan will also be amending a zoning bylaw to allow up to four residential units to be built on one lot.
In a later news conference, Housing Minister Sean Fraser said the city estimates 44,000 new homes could be unlocked over the next 10 years because of measures that the municipal government is taking to take advantage of the funding.
Last month, the city of London, Ont., became the first in Canada to sign a deal under the national housing accelerator fund.
Fraser said the $4-billion fund was expected to allow 100,000 new homes to be built, but the impact will be bigger than that.
"It is proving to be more successful than I thought possible even just a few weeks ago when we made the first announcement," he said.
"Seeing the City of Vaughan step out and say they can do more than 40,000 gives me faith that this is going to have a very, very meaningful impact."
This report by The Canadian Press was first published Oct. 5, 2023.
The Canadian Press