$33.5M To Fund Housing In Three Island Communities

More federal funding was announced last week to get more homes built in Campbell River and Comox.

Including the City of Victoria in the mix, a fast-tracked combined total of over 900 homes will be built over the next three years, to kick start the construction of more than 16,000 homes over the next decade.

The agreements under the Housing Accelerator Fund (HAF), will provide a total of almost $33.5 million to eliminate barriers to building housing.

Campbell River will receive over $10 million to support its Action Plan which commits to seven local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community.

The funding will allow for infrastructure planning to support higher density throughout the city and zoning permissions along transit corridors.

Throughout the city, it will also expand four units as-of-right on existing residential lots, fast-track development permit applications for non-market and purpose-built rental, and will explore standardized designs for accessory dwelling units, duplexes and multiplexes.

Comox will receive over $5 million to support its Action Plan which commits to seven local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community.

The funding will streamline development approval processes, introduce incentives for accessory dwelling units, enable up to four units as-of-right throughout the Town, and reduce parking requirements. Bylaws will be amended to promote redevelopment of higher density, mixed-use buildings downtown. It will also provide infrastructure support to increase residential development, digitize and facilitate faster development and permit approvals.

The Housing Accelerator Fund asks for innovative action plans from local governments, and once approved, provides upfront funding to ensure the timely building of new homes, as well as additional funds upon delivering results.