Federal grant money catalyst for construction of over 2,500 homes over the next decade
The City of Fredericton is now sharing plans to fast-track the construction of more than 250 hundred housing units within the next three years. Fredericton received $10.3 million in federal funding under its Housing Accelerator Fund (HAF) in January 2024 and today released details on how that money will be used to accelerate the construction of new homes in the city and help implement the City’s Affordable Housing Strategy.
The HAF Action Plan commits to eight local initiatives that enable a variety of housing forms and densities to meet the growing and more diverse needs of the community. Funding will allow for mixed-use development on City-owned land, offer incentive programs promoting increased housing supply, support affordable homeownership; encourage the use of modular construction and provide support to community housing providers to develop an increased supply of affordable housing. The funding will also be used to create new, streamlined, and user-friendly automated building permit and development management software systems to ease the administrative work stalling many new developments.
“Access to these funds will provide Fredericton support on its path towards creating an affordable, equitable, diverse, and climate-resilient community,” said Mayor Fredericton Mayor Kate Rogers. “We’re looking forward to maximizing this funding to its full potential and bringing about an even brighter, more inclusive future for Frederictonians.”
Fredericton City Council adopted the city’s first Affordable Housing Strategy in 2022. The Strategy recommends actions that the City can take to help make housing more affordable for the residents of Fredericton, and to date, the City has made significant progress in implementing many of those ambitious recommendations. The funding received under the HAF will help to implement more of the actions and initiatives outlined in the City’s recently released 2-5 year Affordable Housing Action Plan.
For more information on the City’s Affordable Housing Strategy, and its 2-5 year Action Plan visit: Affordable Housing Strategy | City of Fredericton