MP Michael McLeod announced $8.4 million in funding to support affordable housing in Yellowknife Monday afternoon at Yellowknife City Hall.

The funding, through CanadaSA国际影视传媒檚 National Housing StrategySA国际影视传媒檚 Housing Accelerator Fund, will fasttrack the construction approximately 154 new homes in the city.

McLeod the federal government will work together with the city to make more meaningful changes that will counter the housing shortage.

The Housing Accelerator Fund is intended to assist the city in overcoming governmental obstacles by streamlining application procedures, establishing timelines and enhancing service delivery. It will also broaden the municipalitySA国际影视传媒檚 community and energy initiatives to incorporate strategies dedicated to climate change mitigation and adaptation, aimed at bolstering climate resilience and affordability. Furthermore, it will transition city-owned land to private ownership to facilitate more opportunities for residential and mixed-use development.

SA国际影视传媒淭his new way of working comes at a time when we really need it, because business as usual will not solve the housing challenges we face today. What we need is bold action, fearless innovations and systemic changes in how we build homes,SA国际影视传媒� McLeod said.

Garett Cochrane, the citySA国际影视传媒檚 deputy mayor, expressed his gratitude for the NWT MPSA国际影视传媒檚 advocacy to attain the funding for Yellowknife.

SA国际影视传媒淢ake no mistake, this is a big deal, and thereSA国际影视传媒檚 no question that we have housing challenges in Yellowknife. Housing affordability, adequacy and suitability is a serious issue for many of our friends, family, and neighbours across Yellowknife,SA国际影视传媒� said Cochrane.

With the $8.4 million the city has been allocated, the city will be working on more affordable housing, medium-density housing (such as townhouses) and student housing. To address the challenges, the municipality will complete a housing needs assessment, update and enhance the citySA国际影视传媒檚 development bylaw and streamline the development process, among other steps.

Cochrane could not confirm where the 154 new homes will be located.

Last October, Prime Minister Justin Trudeau announced an 50 affordable homes for Yellowknife. SA国际影视传媒 asked about the status of that project, which is supposed to be ready for move-in by 2025, but no construction has started yet. Cochrane said he has no further information on that initiative.