Federal government announces first project under new bn housing fund

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The London proposal, which will be receiving $74 million in funding, calls for four units to be built on a single property even in low-density neighbourhoods.

Housing Minister Sean Fraser said that the London announcement is just “one of a series of measures we’re going to be advancing over the course of the fall that are going to have a meaningful impact to get more homes built in this country.”

Housing Minister says raft of new measures incoming

Fraser said that in collaboration with private and non-profit organizations, the federal government will be introducing new policies to address the country’s long-running housing crisis.

“We’re going to need to advance measures that are going to help change the financial equation for builders who are dealing with a lot of projects that are actually approved but have been put on pause because of a higher-interest rate environment,” Fraser said.

In particular, the federal government will be looking into changing the regulations that govern how long municipalities take to issue zoning permits, as well as attracting immigrants with the relevant construction skills.

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