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Pacific Canada  + Canada  + Multi-residential Housing  | 
Apartments under construction.

Feds Grant Vancouver $115M in Housing Accelerator Funds

The federal government has reached an agreement with the City of Vancouver to fast-track the development of 3,200 new homes in the next three years.

Ottawa will provide the city with $115 million from the Housing Accelerator Fund, Prime Minister Justin Trudeau announced Friday. The fund is designed to cut red tape and fast-track the construction of 250,000 homes across Canada.

Many of the projects are expected to be multi-family rental projects as Ottawa seeks to reduce a chronic housing shortage and all levels of government aim to develop more high-density and transit-oriented residential projects.

“The City of Vancouver is grateful to the Government of Canada for their support as we continue working together to build more homes faster and create a brighter future for all Vancouverites,” said Ken Sim, Vancouver’s mayor, in a news release.

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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Development
  • ◦Financing
  • ◦Policy/Gov't
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