The fact that our country is experiencing a continuing, worsening housing crisis is not news. Rising costs, limited affordable options, and lengthy project timelines have made it increasingly difficult for many Canadians to find suitable housing.
In response to these challenges, last Thursday, the federal government announced a $6 billion housing infrastructure fund aimed at addressing the crisis. While this initiative is a step in the right direction, many critical questions remain unanswered and action is needed to ensure effective implementation.
The announcement allocates $1 billion for infrastructure in cities, which is a positive development. However, concerns continue for communities such as our in the Foothills, considering the exclusion of towns from this funding.
Additionally, the strategies, intent and information required for the remaining $5 billion is absent – including timing and allocation. The Government has noted that Provinces have until January 1, 2025, to reach agreements, potentially including matching funds – with the risk of funding redirection to cities if agreements are not reached.
This is a highly flawed approach that doesn’t reflect population needs, but rather prioritize municipal status. Without alignment to population, an equitable distribution of resources that supports all Canadians will not be achieved.
While the allocation of $1 billion for shovel-ready projects is commendable, concerns about potential delays in fund disbursement have been raised, especially given the recent transition of oversight from CMHC to Infrastructure Canada. The timely delivery of funds is crucial to address urgent housing needs in communities across the country.
Calls for increased funding for the CMHC Affordable Housing program stream and the introduction of a fourth round of the Rapid Housing Initiative (RHI) highlight the need for further support to meet housing demands – particularly for low-income populations.
The CMHC Housing Accelerator Fund presents an opportunity for local municipalities to promote affordable housing development. However, limited traction in applying for funds emphasizes the need for improved processes and collaboration, and improved accessibility. Grant programs should be explored to incentivize housing development, focusing on affordability and efficiency.
The federal government’s efforts to address the housing crisis provides a nod of recognition that funding is required – though is absent of detailed strategies, accessibility, and equity in its delivery.
Collaboration between governments, municipalities, and stakeholders is essential to ensure that all Canadians have access to safe, affordable housing.
