Charlottetown, PE (Feb. 26, 2024)  The Greater Charlottetown Area Chamber of Commerce (“Chamber”) welcomes recent commitments to accelerate housing development, including the announcement that the Town of Cornwall has reached an agreement with the federal government to fast-track more than 140 homes over the next three years through the Housing Accelerator Fund, and the release of the province’s Housing Strategy.

“We are pleased to see the Town of Cornwall secure almost $4.3 million in federal funding to eliminate barriers in building much-needed housing. We are also encouraged to see the release of a provincial Housing Strategy with action items to address access to adequate housing supplies,” said Chamber CEO Bianca McGregor. “The shortage of available housing is a significant obstacle to our members looking to recruit and retain employees and grow their businesses.”

The 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, reducing parking space requirements, and increasing maximum building height.

The province’s five-year Housing Strategy outlines 20 priority action items aimed to speed up new housing construction, build more affordable homes, and provide housing supports for the most vulnerable. The report aims to grow housing starts towards the required average annual of 2,000 units.

Over the last year in our submissions and meetings with the Department of Housing, Lands, and Communities, our Chamber has advocated for the acceleration of housing development, the removal of barriers for developers, and the need for collaboration between relevant stakeholders including all levels of government, private-sector developers, and organizations such as our Chamber.

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.

Earlier this month, our Chamber also welcomed the announcement that the City of Charlottetown will receive $10 million through the Housing Accelerator Fund to fast-track 300 new housing units over the next three years.

 

 

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About The Chamber:

The Greater Charlottetown Area Chamber of Commerce connects business and community and is PEI’s largest business advocacy organization with more than 1,100 members. For more information on the Chamber, visit www.charlottetownchamber.com.

 

Media Contact:

Madeline Biso,

Policy Analyst & Media Relations Manager

mbiso@charlottetownchamber.com

(902) 628-2000 x 224