In a visit to Thunder Bay on Thursday, Prime Minister Justin Trudeau announced an agreement has been made with the city of Thunder Bay to build over 600 new housing units over the next three years.

The funding for the homes is coming through the Housing Accelerator Fund, and the agreement will provide $20.7 million to build more homes.

“The status quo on home-building in this country isn’t working. We need to build more homes and make sure they’re affordable – and we need to do it faster. That’s what today’s announcement in Thunder Bay is all about. Let’s get more homes built at prices Canadians can afford,” said Prime Minister Justin Trudeau.

It will create more housing options in the city, including more multi-unit and affordable housing projects with up to four homes per lot.

The city plans to turn vacant and underused property downtown into new housing and will re-zone commercial areas, fast-track development approvals, and put incentives and grants in place to get more housing projects off the ground.

“The City of Thunder Bay is all in on new housing and is working hard to set the stage for new housing development. Our focus is in line with the federal government’s goal of building as many homes as possible, as quickly as possible,” said Mayor of Thunder Bay Ken Boshcoff. “We have adopted most of the top 10 Housing Accelerator Fund best practices, incentivizing a broad range of housing development. Thunder Bay welcomes this partnership with the federal government and is prepared for the growth which aligns with our strategic plan enacted by Council.”

The City will also create a dedicated team to recommend systemic changes and work with non-profit organizations, community organizations, advocacy groups, and home builders to reduce construction costs.