Canada Mortgage and Housing Corporation (CMHC) announced $22.8 million in new funding for Calgary through the Housing Accelerator Fund (HAF). The new funding will be allocated to support housing initiatives in Calgary’s downtown and incentivize more secondary suites across the city.
“Calgary is undergoing unprecedented growth, showcasing the city’s opportunities, vibrancy, and solid economy. However, this rapid expansion significantly impacts our ability to provide homes for Calgarians and those wanting to make a home here,” says Mayor Jyoti Gondek. “The Government of Canada’s additional $22.8 million investment is vital for us to meet these extraordinary demands. I am committed to working closely with federal and provincial governments, the private sector, and nonprofit organizations to continue creating more homes across Calgary.”
Housing is a top priority for The City as Calgary continues to experience record growth. According to the latest data from StatsCan, more than 90,000 people moved to Calgary in 2024.
In November 2023, the Government of Canada and The City entered into an agreement under HAF to fast track more than 6,800 housing units above Calgary’s annual baseline over three years. As of Feb. 28, 2025, The City has reached 83 per cent of our original target, with 34,594 out of 41,858 units, within the first year of a four-year contract.
“We are grateful to the federal government for this continued investment through HAF and rewarding The City’s efforts to increase housing supply, choice and affordability for all Calgarians,” said Reid Hendry, Chief Housing Officer, City of Calgary. “This latest investment will enable 800 more homes in Calgary.”
Calgary also saw remarkable growth in building permit numbers and residential permits, recording the highest housing starts in Canada with 20,165 units, setting a new record and making 2024 the first year Calgary surpassed 20,000 units.
“Calgary is Canada’s leader in housing, but despite record housing starts and completions, we need to do more,” said Hendry. “Growth continues to outpace supply. Thousands of Calgarians are still struggling to afford housing or find housing that meets their needs. Funding from other levels of government is crucial in our efforts to address the housing crisis in Calgary.”
HAF has provided The City over $228 million in funding to support seven initiatives that include accelerating housing downtown, investing in transit-oriented development, streamlining housing approvals, incentivizing secondary suites, funding infrastructure, and supporting non-market housing development.
Through actioning these initiatives and implementing Home is Here: Calgary’s Housing Strategy, The City is exceeding our HAF housing target.
- 94% complete Multi-Unit Housing Near Transit (10,019 of 10,627)
- 74% complete Missing Middle Units (11,888 of 15,959)
- 99% complete Multi-Unit units (4094 of 4,098) and
- 25% complete Non-market units (186 of 740)
As a result of The City’s significant progress toward these goals, select targets are being revised upward. New targets in these categories are:
- Missing middle: 16,156 units
- Multi-Unit: 4,707 units
- Total housing supply: 42,667 units
HAF enables homeowners, developers and non-profit housing providers to create more homes. Incentives to motivate development, coupled with new efficiencies in city development processes, are enabling our partners to build new homes quickly.
The City will announce the housing initiatives enabled by the new HAF funding in the coming months.
Learn more about how The City is actioning HAF funding on our website at Housing Accelerator Fund (HAF).
