Another $2.4 million in federal cash is coming to Coquitlam to get more homes up.
Last week, Nathaniel Erskine-Smith, Canada’s minister of Housing, Infrastructure and Communities, awarded $74 million to “top-performing” municipalities that have received money under the Housing Accelerator Fund (HAF).
Coquitlam got a $25-million HAF grant last year to boost the number of new homes by at least 10 per cent each year — or more than 2,130 new forms of housing — by 2028.
The extra $2.4 million for 80 new units is based on Coquitlam’s strong performance on getting more affordable homes built over the past year, a federal spokesperson told the Tri-City News.
Other B.C. jurisdictions that are also getting the top-up are:
- Bowen Island
- $160,000
- Gibsons
- $204,000
- Surrey
- $5.1 million
- Tsal'alh First Nation
- $142,000
- Tsawwassen First Nation
- $284,000
- Vancouver
- $4.3 million
“Our government is committed to removing barriers and cutting red tape to enable housing development and this additional funding will help leading communities do just that,” Erskine-Smith said in a news release.
Specifically, Coquitlam is using its federal grants to:
- review the development approvals process
- update the rental incentive program
- explore the delegated authority for minor development variance permits
- renew the urban design guidelines in the Official Community Plan
- review citywide parking
- expand southwest housing and the Housing Choices program
- develop nonprofit housing partnerships
Last month, Coquitlam-Port Coquitlam MP Ron McKinnon also announced Port Coquitlam would be getting $10.3 million from the HAF to spur growth.
Started in 2023, the first HAF round is worth $4.4 billion and runs until 2028.
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