City secures $25.7 million from federal government’s Housing Accelerator Fund

On Jan. 17, 2024, St. Catharines MP Chris Bittle announced an investment of $25.7 million to boost housing supply in St. Catharines. The funding is through the Canada Mortgage and Housing Corporation’s (CMHC) Housing Accelerator Fund (HAF), a $4 billion initiative that offers financial support to local governments for expediting the development of new homes.

“This is fantastic news for the City of St. Catharines. The Housing Accelerator Fund is set to support the City in implementing a range of fresh initiatives aimed at boosting the approval of housing units, ensuring that more individuals have a place to call home,” said Mayor Mat Siscoe. “I want to thank the federal government for working collaboratively with municipalities to tackle the housing crisis. Clearly we are capable of conquering greater challenges when we all work together.” 

“Today’s announcement will help fast track almost 700 homes in the next three years and more than 12,000 homes over the next decade. 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,” added Federal Minister of Housing, Infrastructure and Communities, Sean Fraser.

This significant investment reinforces a shared commitment to addressing housing needs in the city, focusing on both quantity and quality of housing. By leveraging funds and implementing the outlined initiatives, the City aims to enhance affordability, accessibility, sustainability, and inclusiveness in the housing sector. The collaboration between government, private developers, and non-profit organizations will support those efforts and ensure a comprehensive approach to housing development. One of the cornerstone initiatives included in the City’s approved contribution agreement is the creation of a municipal development corporation. The development corporation will enable the municipality to take the lead in bringing municipal property to market to support new housing opportunities and establish partnerships with the development community. 

“The City of St. Catharines would like to thank the Federal Ministry of Housing, Infrastructure and Communities and CMHC for this substantial investment in housing. The City is proud to be one of the recipients of HAF and believe it will fundamentally change the way homes get built in the city. This is a tremendous example of how different orders of government are able to enter into partnerships to improve the lives of the residents of St. Catharines and across the country,” said Chief Administrative Officer David Oakes.