The government of Canada and the City of Saskatoon announced that 940 housing units will be fast-tracked in the city over the next three years.
Through the Housing Accelerator Fund, $41.3 million is going toward this initiative, with housing development being sped up in areas near transit and the downtown sector.
The feds said the fund is helping fast-track at least 100,000 homes over three years across the country, adding that this will help spur the creation of almost 650,000 homes in Canada over the next decade.
“We are excited and proud to announce this partnership with Saskatoon today,” said Sean Fraser, federal minister of housing, infrastructure and communities. “By allowing four units as-of-right, increasing building heights, and streamlining processes for supportive housing, the city will ensure that Saskatoon has more of the kind of homes we need to tackle the housing crisis.
“We will continue working with cities, mayors, and all levels of government, to get more homes built for Canadians at prices they can afford,”
Saskatoon Mayor Charlie Clark said,”With Saskatoon growing faster than ever, we have an urgent need to come up with housing solutions.”
“This welcomed investment through the Housing Accelerator Fund can provide the money needed to help increase supply, including much needed affordable housing, particularly in areas of the city near transit corridors,” Clark said. “Accommodating generational growth requires generational change and City Council will be considering big changes to zoning, density, and parking requirements to meet the targets in this plan.”
The federal government said the Housing Accelerator Fund was created in March 2023, and as of the end of September 2023, more than $38.89 billion has been used to create almost 152,000 housing units and repair over 241,000 units.