An anonymous reader cites the Daily Hive's report. This is the third day in a row that Prime Minister Justin Trudeau has announced major housing funding. Friday's announcement includes more than $600 million in investments aimed at lowering home construction costs and speeding up construction schedules, with a renewed focus on creating new building innovations. This includes a new $50 million homebuilding innovation fund, with the federal government aiming to leverage an additional $150 million from the private sector and other levels of government. An additional $50 million will be invested in ideas and technologies such as prefabricated home factories, mass wood production, panelization, 3D printing, and pre-approved home design catalogues, particularly in already funded projects.
Similarly, $11.6 million will go toward the federal government's previously released Housing Design Catalog to create standardized housing structural designs that allow for simplicity, construction efficiency, and cost efficiency. The majority of the funding announced today will go to the Federal Apartment Construction Loan Program. The program provides low-cost financing to support new rental housing projects using innovative construction techniques from prefabricated and modular home manufacturers and other home builders. “We are changing the way homes are built in Canada. Budget 2024 supports a new approach to construction, focused on innovation and technology. “It's going to be easier to build houses, it's going to be easier to build houses.” ”
