Following a fallout over fourplexes, the City of Mississauga has finally reached a deal with the federal government under the Housing Accelerator Fund.
The agreement will see Mississauga receive $112.9M in HAF funding, one of the largest allocations to date.The funds will fast-track the creation of more than 3,000 new housing units over the next three years, and spur the construction of over 35,200 new homes over the next decade.
"This direct funding will help cities like Mississauga who are on the front-lines of the housing crisis fast track the building of new homes. Given the severity and the complexity of this crisis, we need to be bold, work quickly, and use every tool available to us," said Bonnie Crombie, the Mayor of Mississauga.
"This also means ensuring we are innovative and are building the right mix of housing, including the ‘missing middle’ in our neighbourhoods. We are grateful to the federal government for their confidence in our housing plan and their commitment to ensuring that everyone who wants to call Mississauga home can afford to do so."
The Housing Accelerator Fund (HAF) is a $4B initiative intended to speed up the creation of 100,000 new homes across Canada by 2026-2027. More than a half-dozen cities, including Richmond Hill, Brampton, and Kitchener, have inked deals ranging from $31.5M to $228M.
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 supply and speed up approvals. More than 500 applications have been submitted to the program.
Under Mississauga’s agreement, the city will introduce process improvements and incentives to encourage more housing types, including fourplexes and triplexes in low-rise neighbourhoods.
Other initiatives include streamlining the approval processes for development applications and building permits, creating incentives for the development of affordable rental housing, and reviewing opportunities for residential developments on underused land, including City-owned parcels. As well, the City will invest in infrastructure around transit stations and affordable housing.
"By building more affordable homes more quickly, our government is unlocking new opportunities for growth in Mississauga," said Rechie Valdez, Minister of Small Business and MP for Mississauga – Streetsville.
"Today’s announcement is great news for families in Mississauga, and it will build thousands of new homes that those in our community can call home at prices they can afford."
In early October, it appeared as if Mississauga would miss out on HAF funding after City Council voted against permitting fourplexes in the city, a key component of other approved HAF plans and a feature Housing Minister Sean Fraser had specifically requested in the city.
"The only way for us to overcome the housing crisis is by tackling it together," said Iqwinder Gaheer, MP for Mississauga – Malton. "I am proud to see Mississauga and the federal government uniting to make a real difference within our community by ensuring that more affordable homes are built faster."