Prime Minister Justin Trudeau says applications are now open for a national transit fund that will include money for existing transit systems so they can expand, improve and modernize.
The $30-billion, 10-year Canada Public Transit Fund has been in the works for months and was in the recent federal budget.
If we’re going to build more public transit, we should build housing next to it. It’s that simple.
— Justin Trudeau (@JustinTrudeau) July 17, 2024
That money will be divided into three categories: baseline funding for existing systems, metro-region agreements for Canada's biggest cities, and funding for specific things like rural communities, Indigenous communities and active transportation.
Here’s the deal: We’ve put money on the table to help cities build more public transit, with a catch.
— Justin Trudeau (@JustinTrudeau) July 17, 2024
To get that funding, cities have to change their by-laws to unlock more apartments and homes near that transit. pic.twitter.com/uZVSHoLEfz
The Liberals say this will complement the Housing Accelerator Fund by tying housing money to projects that are near public transit.
The plan includes eliminating mandatory minimum parking requirements for new construction and allowing high-density housing projects near transit.
The money isn't set to flow for another two years but applications opened today for the baseline funding and the metro agreements.
