The federal government announced it will spend an additional $918,000 to fast-track 34 housing units in Saint John, N.B., over the next two years in recognition of the city’s “top performer” designation under the Housing Accelerator Fund (HAF).
The HAF program cuts red tape “to speed up permitting and add greater density especially near transit and post-secondary institutions,” said a Friday news release. Top performers received up to 10 per cent of the value of their original agreement if they met their commitments under the program for the first year and proposed new initiatives to accelerate housing.
“By working with cities, mayors and all levels of government we are helping to get more homes built for Canadians at prices they can afford,” said Saint John-Rothesay MP Wayne Long.
Saint John said it would use the additional funds to develop an incentive program supporting higher density developments in uptown and surrounding areas.
“This funding allows us to complete our ninth housing initiative, this one focused on large-scale development,” said Saint John Mayor Donna Reardon. “Our vacancy rate is less than two per cent and we’re looking to increase our population by two per cent annually. This funding will help Saint John grow and create liveable neighborhoods where our citizens feel they belong.”
The HAF launched in March 2023. The $4.4-billion initiative runs until 2027-28 and is part of Canada’s National Housing Strategy and Canada’s Housing Plan.
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