Government enhances key programs to tackle housing crisis

Responding to the urgent need for affordable housing, the federal government is expanding the Affordable Housing Fund (AHF) and Apartment Construction Loan Program (ACLP).

The AHF, now extended to 2028-29, will prioritize accessible and energy-efficient projects and introduce new streams for rapid housing solutions like shelters and mixed-income developments. The ACLP, extended to 2031-32, will now support student and senior housing, with a focus on boosting rental supply.

These changes, combined with the Frequent Builder framework, aim to streamline the building process and create more diverse housing options for Canadians.

Housing providers can submit applications using the new guidelines starting November 22, 2024.