District of Squamish receives $7M from CMHC Housing Accelerator Fund

The District of Squamish has been successful in securing a $7M grant from the Canada Mortgage and Housing Corporation (CMHC) Housing Accelerator Fund to facilitate housing delivery in Squamish. The funding will help to increase housing supply for missing-middle and low- to moderate-income households over the coming years.

“Housing affordability has been a major concern for many people in Squamish and across the country and we are very grateful for this significant grant we have been successful in securing,” says District of Squamish Mayor Armand Hurford. “This funding will help to ensure we can deliver more of the types of  housing units that we need so that all residents have the opportunity to thrive in our growing community for many years to come.”

The Housing Accelerator Fund grant will fund an internal team dedicated to increasing housing supply and reducing barriers to build a variety of housing types in Squamish in line with the District’s Housing Action Plan. This action plan outlines several initiatives that aim to facilitate housing development over decades to meet the diverse needs of Squamish’s growing community. One of the Housing Action Plan’s first initiatives was to reform zoning rules for affordable housing and adopt blanket zoning bylaw changes to remove density restrictions and allow affordable housing projects of six storeys or less in any Squamish neighbourhood (outside of higher flood hazard areas). Adopted in November 2023, the amendments are expected to increase affordable housing construction with greater speed and density across the community.

Among the Housing Action Plan initiatives that the CMHC grant will support are initiatives to waive Development Cost Charges and development fees for all affordable housing developments, complete a feasibility analysis to identify municipally-owned lands suitable for affordable housing development, and expedite missing middle, affordable and rental housing applications. The funding also includes a $1M commitment to planning for infrastructure to accommodate the infill and to planning for future community amenities.

“Housing affordability has been a strategic priority of the District for the past decade and we recognize the great amount of work ahead of us, with very specific deadlines governed by the requirements of the CMHC grant,” continues Hurford. “The District will be hiring multiple positions to drive this work forward, and we look forward to sharing much more information with the community over the coming months as this work progresses."

Provincial action

Forthcoming provincial legislation, through the BC Homes for People plan, will further align all levels of government to achieve affordability goals across the province. This legislation will result in broad changes to the District’s existing zoning and development charges, and will result in broad public engagement through Official Community Plan updates every five years. The new regulations allow for increased affordable housing units, increased flexibility to single-family (RS1) homeowners and opportunities for multi-generational living, while reducing barriers to housing delivery. Work to implement these changes within the District of Squamish will take place throughout 2024 and 2025.

The 2023 District of Squamish Housing Needs Report projects that 9,600 new housing units will be required by 2036, with an estimated 6,840 units needed by 2031 in order to meet the housing needs of our community. The Report estimates that of the 6,840 new units needed by 2031, 42% will need to serve households earning below $70,000 per year. 

The District works with community housing partners and senior government agencies to deliver emergency, transitional and affordable housing in Squamish. Since 2017, the District has helped to facilitate the creation of 387 non-market publicly-funded affordable rental units in the community, including such projects as Spirit Creek, Westwinds and Centrepoint.  

In 2021, the District established the Squamish Community Housing Society (Housing Squamish) to increase the supply, availability and access to affordable housing options across the community and entire housing spectrum. The Society works to increase affordable housing options through partnerships, support the management of non-market housing, and advocate for action on housing in Squamish.

About the CMHC Housing Accelerator Fund

The CMHC Housing Accelerator Fund provides incentive funding to local governments encouraging initiatives aimed at increasing housing supply. It also supports the development of complete, low-carbon and climate-resilient communities that are affordable, inclusive, equitable and diverse, and that have the necessary infrastructure to support an increased population. The $4 billion federal funding program was designed to support lasting changes that will improve Canada’s housing supply for years to come.

To learn more about the CMHC Housing Accelerator Fund visit www.cmhc-schl.gc.ca/professionals/project-funding-and-mortgage-financing/funding-programs/all-funding-programs/housing-accelerator-fund/resources-housing-accelerator-fund-applicants

To learn more about the Provincial Homes for People plan and progress visit strongerbc.gov.bc.ca/housing

To learn more about affordable housing in Squamish visit squamish.ca/affordable-housing.

To learn about the Squamish Community Housing Society visit housingsquamish.ca

January 23, 2024