The $175M will go towards the goal of fast-tracking over 5,200 new housing units across the next three years and over 22,000 across the next decade.
Housing Accelerator Fund money is released to cities in installments. After an initial installment, municipal governments must then fulfill requirements as outlined in their agreements — such as amending an existing policy or approving a new policy — before they receive subsequent installments. A core ask that the federal government has mandated in Housing Accelerator Fund applications is ending exclusionary zoning, and the Government of Canada noted on Wednesday that Edmonton had already done so,"Edmonton has made bold moves to ensure our city can support diverse and affordable housing options for all," said Mayor Sohi. "Under the Housing Accelerator Fund, we can boost building opportunities, streamline our processes, and build inclusive, climate-resilient communities.