The City of Duncan is getting $2.6 million from the Canada Mortgage and Housing Corp. to encourage construction of 313 new homes over the next three years.
“The funding will help the city complete housing initiatives and invest in infrastructure needed to support housing development and the community,” Mayor Michelle Staples said in a statement.
The work will address the “growing need for housing by supporting a greater choice of housing options,” she said.
Funding came through the federal Crown corporation’s $4.4-billion Housing Accelerator Fund.
The fund, unveiled in spring 2023, aims to boost housing supply and to encourage development of affordable, diverse and climate-resilient communities. It has a goal of 112,000 new homes developed across the country.
Kyle Young, Duncan’s director of planning and sustainability, said most of the money will go toward infrastructure such as water, sewer, drainage and parks to support new housing developments.
It’s too soon to say which projects will receive money, he said, noting that council will decide.
Under the agreement, Duncan will strive to eliminate roadblocks to housing development, create certainty in the development approvals process, and encourage investment in new homes.
Efforts to support new housing will be seen in modifications to zoning, parking, design guideline updates, streamlining of the development application process and finding incentives to create affordable housing, the city said.
The money comes as communities around B.C. are busy making changes to develop more efficient and faster paths for housing development approvals.
That push results from provincial legislative changes announced last year to tackle the ongoing housing shortage. Housing is in scarce supply, and rental and purchase costs have also increased for citizens.
