The federal government has reached a second Housing Accelerator Fund agreement in as many days.
Under the latest Housing Accelerator Fund (HAF) deal, the town of Ajax will receive nearly $22M to help fast-track the construction of more than 580 housing units over the next three years. Over the next decade, the funding will lead to the creation of almost 11,000 homes in the city.
"The Housing Accelerator Fund will have tangible impacts for current and future residents of Ajax. This funding assists the Town in modernizing policies and processes to support development as well as build new infrastructure to support growth," said Shaun Collier, Mayor of Ajax.
"Finding innovative solutions to the housing crisis will require sustained leadership from all levels of government, and I look forward to continuing this important work."
The Housing Accelerator Fund (HAF) is a $4B initiative intended to speed up the construction of 100,000 new homes across Canada by 2026-2027, and create an estimated 450,000 new units over the next decade.
The feds have come to more than 20 agreements since they began doling out funds in September, with Toronto, Kingston, and St. Catharines amongst the beneficiaries. The eight agreements inked since the start of 2024 equal approximately $245.5M.
To access funding, local governments are required to submit an application outlining their supply growth targets, as well as specific initiatives they plan to undertake in an effort to boost housing supply and speed up approvals.
As part of its HAF agreement, Ajax will legalize four units as-of-right across the city, increase housing density around major transit areas, reduce restrictions related to parking rates and building heights city-wide, and make surplus public land available for housing.
Other initiatives include expediting the approval process for new housing, encouraging the construction of rental homes, and incentivizing the creation of more affordable homes.
"We’re working together to equip our communities with new tools to help them thrive," said Mark Holland, Minister of Health and Member of Parliament for Ajax.
"By building more affordable homes more quickly, our government is unlocking new opportunities for growth in Ajax."