The City of Kelowna is set to build hundreds of new homes after a $31.5 million contribution from the federal Housing Accelerator Fund (HAF).

Housing Minister Sean Fraser, alongside Mayor Tom Dyas, made the announcement in front of a home construction site across from Cameron Park on Wednesday (Oct. 25).

sa国际传媒淭his is a fund that is designed to reward the most ambitious cities with direct financial support if theysa国际传媒檙e willing to zone more densely, improve their permitting process, and create incentives to get home builders building homes for residents,sa国际传媒� Fraser said.

Federal Housing Minister has announced that the City of Kelowna will receive $31.5M from the Housing Accelerator Fund.

sa国际传媒� Gary Barnes (@GaryBarnes109)

The money will help build approximately 1,000 homes in the city over the next three years to four years.

Fraser said similar agreements have recently been signed with cities across the country including London, Hamilton, Vaughan, and Halifax.

sa国际传媒淚 am thrilled that Kelowna is going to be added to that list.

Mayor Days said the funding will allow the city to take innovative steps in providing more diverse, attainable, and affordable housing.

sa国际传媒淭he HAF means that Kelowna will be able to take ambitious action in new ways to make a positive impact within our community.sa国际传媒�

That action includes expanding infill housing options, acquiring land for affordable housing, and adjusting zoning and regulations.

Kelowna Mayor Tom Dyas welcomes a $31.5M contribution from the federal governmentsa国际传媒檚 Housing Accelerator Fund.

sa国际传媒� Gary Barnes (@GaryBarnes109)

The mayor noted the citysa国际传媒檚 use of AI is another example of improving and increasing efficiency in the development application process.

sa国际传媒淜elowna has established itself as a leader and has a proven track record of getting more homes built faster,sa国际传媒� he said.

Fraser agreed.

sa国际传媒淲esa国际传媒檝e been engaging in a back and forth trying to push cities to do more, and I would note that I need not send a letter to Kelowna. All of the incentives, all of the initiatives that wesa国际传媒檝e asked them to do they were already willing to do.sa国际传媒�

Fraser added the federal government needs ambitious leadership at the municipal level such as he is seeing in Kelowna.

sa国际传媒淎lthough Isa国际传媒檓 thrilled to be contributing $31.5 million to their efforts, I am far more excited about the homes the city is going to create as a result of that funding opportunity.sa国际传媒�

The city will receive 25 per cent of the funding up front, with 25 per cent over each of the new three years based on milestones being met under the HAF agreement.

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