It’s money in the bank, with more to come, with the federal government affirming Calgary’s Housing Accelerator Fund is in place and will continue to its original conclusion of 2027.
City administration raised fears last fall the agreement, valued at more than $251 million over four years, would be cancelled if the newly elected city council repealed blanket upzoning, which was a major plank in the platforms of most candidates in October’s election.
At a Wednesday presser, Mayor Jeromy Farkas said, “We are here today because Calgary is Canada's housing leader and earlier this month, our city council team took bold action to repeal blanket upzoning and move toward a more targeted made-in-Calgary approach to housing.”
“We are already seeing that approach delivers, and we've received confirmation from the federal government Calgary will receive our latest $64.7 million Housing Accelerator Fund payments as of Wednesday. All payments received to date, including today's are secure and we have a clear collaborative path to secure the fourth and final installment next year.”
Farkas thanked the federal and Alberta governments for being understanding partners and recognizing the decision to repeal was the will of Calgarians
The Cty of Calgary has led the country in new home starts in the last two years, said Farkas.
“We're leading the country and we're leading in approvals and since late 2023 more than 61,000 new homes have been approved through our comprehensive housing strategy Home is Here and the Housing Accelerator Fund is a big part of that success, directly supporting nearly 13,000 market homes and more than 1,500 non-market homes in Calgary,” he said.
“That means more families finding a place to live, more options for people at different stages of life, and more momentum in tackling the housing crisis head on.”
How serious the threat of the federal dollars being withdrawn was never really clear, although other cities with similar agreements, including Red Deer, had their funds pulled recently.
Regardless of the threat’s level, council’s decision was correct, said Farkas.
“Calgarians were clear. A blanket approach to rezoning did not fit our city, so we reset,” he said
“The federal government recognized that fact. They recognized that Calgary can take on a more targeted and made-in-Calgary approach and still meet and exceed housing goals. Make no mistake, this is a strong vote of confidence in the city. And in our city council, it is a strong vote of confidence and a replacement strategy.”
There was one caveat from the feds.
“To receive the final payment next year, we need to have a plan in place that allows for at least four units on a majority of lots across the city,” said Farkas.
“As of today, just shy of half of our city already allows that level of density. The base district and new communities already allow for that, meaning that the share of lots allowing for that density will naturally rise as Calgary grows.”
“Through local area planning and targeted resignations, there are multiple pathways to get there while working alongside communities and keeping our momentum. And here in Calgary, that is the balance that we're striking. More supply, more choice, more affordability and more certainty for everybody involved.”
Other federal funding, almost $1 billion dollars, goes toward other city-building needs.
“We need infrastructure to support that growth. Transit, roads, water and public safety,” said Farkas
“And that is why decisions like this and why partnerships like this matters so much when municipalities, provinces and the federal government align around outcomes and stay focused on getting things done.”
