We’re Halfway There in Our Housing Goals Under the Housing Accelerator Fund

I have great news to share from our staff regarding our progress toward our goals under Burlington’s Housing Accelerator Fund (HAF). Staff provided an update during the February 10, 2025, Committee of the Whole meeting that we are half way toward achieving our housing target goals, and have reached a number of other milestones. This Housing Accelerator Fund initiative plays a vital role in addressing our city's housing needs by increasing the supply and variety of housing options for current and future residents.

Key Highlights from the Update

1. Progress on Milestones:

   • Burlington is advancing on all seven HAF initiatives, designed to enhance housing affordability and accessibility.

   • Of the 18 milestones set, nine have been completed, eight are on schedule, and one milestone has been rescheduled with approval from the Canada Mortgage and Housing Corporation (CMHC).

2. Housing Growth Achievements:

   • As of January 2025, we’ve reached 50% of our housing supply target for this initiative, with permits issued for 1,349 of the planned 2,724 units.

   • These new housing units include a mix of housing types, ensuring a balance between affordability, accessibility, and inclusivity.

3. Funding Milestones and Use:

   • The city received its first funding advance of $5.29 million on January 23, 2024. This investment has been allocated to support projects that align with the HAF objectives.

   • The first annual progress report was submitted on January 11, 2025, detailing our accomplishments and strategies. Upon CMHC’s approval of this report, Burlington expects to receive the next $5.29 million funding advance, further accelerating our housing initiatives.

4. Upcoming Community Improvement Plan (CIP):

   • A draft recommendation for a housing-focused Community Improvement Plan (CIP) will be presented to Council on March 4, 2025, with a final version expected on March 18, 2025.

   • The CIP aims to incentivize the development of affordable rental units, “missing middle” housing (e.g., duplexes, triplexes, and townhouses), and additional residential units, creating more diverse and accessible housing options.

What This Means for Burlington

This comprehensive approach to housing development underscores Burlington’s commitment to addressing affordability and supply challenges. By creating incentives for innovative housing projects and removing barriers to development, we’re working towards a more inclusive and sustainable community.

We recognize the importance of keeping residents informed and involved as we move forward. The Housing Accelerator Fund represents a key step in ensuring Burlington continues to grow as a city where everyone can find a place to call home.

For more information, you can read the full report HERE.

Thank you for your continued support as we work together to build a better Burlington.