Calgary & Vancouver Among 27 Cities To Receive Housing Accelerato​r Fund Bonus​

Calgary and Vancouver have been recognized as top performers in Canada's Housing Accelerator Fund (HAF), each receiving significant bonus funding to further their housing initiatives. The federal government announced a total of $73.8 million in performance-based bonuses for 27 municipalities that met or exceeded their housing targets and commitments.

Calgary received the largest bonus of $22.8 million, approximately 10% of its original $228 million HAF agreement. This recognition follows Calgary's approval of its "Home Is Here" housing strategy in September 2023, which includes over 60 actions aimed at addressing urgent housing needs. The additional funds will support initiatives such as zoning bylaw amendments to allow more "missing middle" housing, streamlining approvals, and incentivizing secondary suites. citeturn0search1

Vancouver was also among the top performers, securing a bonus of $11.5 million. This comes after the city received $115 million from the HAF in December 2023 to fast-track over 3,200 new housing units within three years and spur the construction of more than 40,000 homes over the next decade. The funding aims to support high-density developments, streamline rezoning laws, and build housing near public transit. citeturn0search2

The HAF, launched in March 2023 with an initial $4 billion budget, is designed to incentivize local governments to implement changes that facilitate the creation of more housing. Municipalities that met their unit forecasts and delivered on their HAF Action Plan commitments for the first year were eligible for bonus funding, amounting to up to 10% of their original agreements.

Other cities recognized as top performers include Edmonton, which received a $17.5 million bonus, and Surrey, awarded $5.1 million. These bonuses reflect the municipalities' efforts in meeting their housing targets and implementing policies to accelerate housing development.

The federal government's allocation of bonus funds underscores its commitment to addressing the housing crisis by collaborating with municipalities to cut red tape and build more homes faster. These investments are expected to significantly improve housing availability and affordability in the recognized cities.