US$176 million in real estate deals

The Canadian Press – | History: 472120

Housing Minister Sean Fraser says the federal government will implement more than 60 housing agreements with small and rural communities across the country in the coming weeks.

Fraser said at a press conference this morning that the deals are worth $176 million and will help build more than 50,000 housing units over the next decade.

Ottawa has been signing deals directly with municipalities through its housing accelerator fund, which offers money in exchange for changes to bylaws and regulations that would support more housing construction.

The Liberal government has presented the fund as a key pillar of its economic plan as it faces political pressure to resolve the country's housing crisis.

Fraser says that in addition to agreements for smaller communities, the federal government has reached 36 agreements to date that will help build more than 500,000 housing units over the next decade.

That includes a deal with the city of Ottawa worth $176 million announced Monday.