Markham plans to develop 1,640 affordable housing units near major transit stations in 3 years

The City of Markham and the Government of Canada announced on March 12 that they have reached an agreement to fast-track 1,640 housing units over the next three years. This work will help spur the construction of more than 6,630 homes over the next decade.

The agreement under the Housing Accelerator Fund (HAF) will provide $58.8 million to streamline processes and remove obstacles to accelerate housing development in Markham.

As part of Markham’s Action Plan, seven local initiatives have been identified to diversify housing options and enhance density. These include partnering with developers, permitting four units as-of-right city wide, increasing density around the city’s major transit stations, offering incentives to create additional residential units and affordable homes, modernizing application processing and reducing minimum parking requirements for new developments.

Mayor Frank Scarpitti highlighted Markham’s reputation for prioritizing density around major transit stations. He emphasized that the advancement of these housing units not only provides accommodations but also makes living more affordable for families as they don’t have to buy a car because of the proximity of rapid transit.

As for reducing minimum parking requirements for new developments, Scarpitti said council is hotly debating “how much parking do we need in areas that rapid transit is available."

“By building more affordable homes more quickly, our government is unlocking new opportunities for growth in Markham,” said Mary Ng, MP for Markham–Thornhill. “Working together, we can equip our communities with new tools to support them to reach their potential and turn possibilities into realities.”

The HAF is helping cut red tape and fast-tracking at least 100,000 new homes over the first three years, which cities and regions estimate will lead to the creation of more than 750,000 new homes for people in towns, cities and Indigenous communities across Canada over the next decade.

Launched in March 2023, the HAF is a $4-billion federal initiative that will run until 2026-27. It asks for innovative action plans from local governments and provides upfront funding to ensure the timely building of new homes, as well as additional funds upon delivering results.

Local governments are encouraged to think big and be bold in their approaches, which could include accelerating project timelines, allowing increased housing density, and encouraging affordable housing units.

For Markham, the plans being finalized involve more than 170,000 units built over the next 30 years to accommodate growth and provide a range of housing in this community.

Scarlett Liu, Local Journalism Initiative Reporter, Markham Economist & Sun