The federal government has provided a $176.3-million investment designed to fast-track the development of 4,400 new homes in Ottawa over the next three years.

Many of the homes are expected to be multi-family rental units.

The investment is being provided under an agreement with the City of Ottawa as part of the federal Housing Accelerator Fund. HAF is administered by Canada Mortgage and Housing Corporation.

Plans call for the investment to support the development of 32,600 residential units over the next decade, the federal government said in a news release.

“With this investment of $176.3 million, the Housing Accelerator Fund will help thousands of families in Ottawa who are desperately looking for an affordable place to call home,” said Families, Children and Social Development Minister Jenna Sudds.

As part of the agreement, the local government will introduce a bylaw permitting four residential units as of right city-wide.

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