Mr. Speaker, with regard to homes constructed under the Housing Accelerator Fund, or HAF, since the program's introduction in March 2023, growth resulting from the Housing Accelerator Fund is measured by the number of permitted housing units approved under the Fund agreement, compared to a baseline anchored in the community’s historical growth. Each agreement includes an overall Housing Supply Growth Target that must be achieved by the end of the agreement.
The Fund will fast track more than 112,000 permits for new homes over the course of the program, which runs from 2024 to 2028. Over the next decade, municipalities forecast that these agreements will unlock more than 750,000 newly permitted homes.
The earliest short-term impacts were reported through communities’ annual reports, submitted to Canada Mortgage and Housing Corporation from November 2024 up to March 2025. In the first year of the program, communities issued 160,585 building permits, beating the combined forecast by 22,000, an early indicator of mid-term potential.
The Housing Accelerator Fund incentivizes local governments to make systemic reforms to land use planning and development approvals that will accelerate the supply of housing that Canadians need, with long-term impacts. Local governments have a significant impact on housing development. Local regulations and municipal bylaws influence where, what kind, and how quickly housing can be built.
To earn funding, approved local governments commit to a set of initiatives and growth targets called an Action Plan. Each community’s Action Plan is unique, but all will result in more new housing permits than would have been approved otherwise. Following an initial payment upon signing, three annual payments are conditional upon satisfactory implementation of Action Plan commitments. All initiatives must be completed by the end of the second year of the agreement.
While construction of individual homes or housing projects is not a universally mandated reform under the program, once the funds from the Housing Accelerator Fund are earned, communities may choose to invest in a range of housing-related priorities, including individual housing projects or housing-related infrastructure. Many communities have dedicated funds from the Housing Accelerator Fund to directly support housing and infrastructure development, and details on such would be captured by the unique agreements signed with each of them.