Greater Charlottetown Area Chamber of Commerce celebrates funding to boost housing development

A man works on a new home in a subdivision near Charlottetown on Thursday, May 17, 2018. THE CANADIAN PRESS/Brian McInnis

A federal government plan to fast track and build more than 140 homes on Prince Edward Island is a move that will help address the housing shortage says the Greater Charlottetown Area Chamber of Commerce CEO Bianca McGregor.

It's estimated that over the next three years, 140 homes will be built through the federal government's Housing Accelerator Fund which includes direct funding and an agreement with the Town of Cornwall.

"We applaud Cornwall's securing of nearly $4.3 million in federal funding to break down barriers hindering essential housing construction," said McGregor in a press release. "The shortage of housing is a major hurdle for our members seeking to attract talent and expand their businesses."

The ongoing work through the Housing Accelerator Fund aims to help spur the construction of more than 500 homes in Cornwall over the next decade.

Some of the planned initiatives through Cornwall’s Action Plan include bylaw amendments to allow for accessory dwelling units and multi-unit dwellings, the reduction of parking space requirements, and increasing maximum height limits on buildings.

The Chamber says the province's five-year housing strategy lays out 20 key action items that aim to ramp up new housing builds, create more affordable housing and help provide housing for the most vulnerable.

"Increasing housing supply will be an issue our Chamber continues to advocate for this year, and we look forward to seeing the implementation of these recent announcements," said McGregor.

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