So there are all sorts of different programs as we've been putting forward over the past years that are going at solving the housing problem by creating more units here, creating more methods of doing that there. There was one thing missing, and in our conversations with municipalities across the country about what are the final barriers, what are the biggest barriers to getting more homes built faster in this country? And that's where we created the housing accelerator. And that's where we roll up our sleeves and work, not with all municipalities across the country, just the ones that are willing to be ambitious about changing the way housing is made in this country. This is not about a single new project. It's about an approach to building housing across the country that will unlock thousands, we're talking over 650,000 new homes unlocked across this country over the coming years by the housing accelerator investments.

And like I said, it doesn't go to everywhere. It goes to the places that are willing to step up in really ambitious ways. For example, Thunder Bay saying now every single lot has four units as of right. And even in low density areas, you can build four stories everywhere. Those changes to zoning give people a lot more opportunities and choices when it comes to building more density. And, of course, making sure we're building more density near city centers, near transit stops. These are things that are going to make a difference in quality of life. Shifting in terms of permitting as well, how we're doing away with some of the red tape and accelerating the processes for being able to build more homes.

And here in Thunder Bay, they've done a lot looking at underutilized properties, either public lands or non-profit lands that they can actually build on and put towards building more density, more homes faster. There are all sorts of things that can be done to improve the way the system works, to build more homes faster. Indeed, the work that is being done by housing, accelerator investments across the country is going to unlock more of the kind of industrial strategy on home building that we see right here, whether it's modular homes, whether it's prefabricated, whether it's talking about using AI and robotics to build more homes. I know you've been talking about doing a lot more technological upgrades to be able to build more homes faster here. These are the kinds of things that get unlocked across the country. So right here in Thunder Bay, just like Patti, a few weeks ago, I think you were in Marathon with a close to $2 million announcement that's going to unlock the housing accelerator fund there, which is going to be a make a big difference, particularly with the economic opportunity that are coming in there.

The investment here in Thunder Bay of $20.7 million is going to allow this community to grow faster, to build more homes and to be better able to support all the opportunities that are coming and that we're seeing across this region. That's what this is about.

The Housing Accelerator Fund is a way of investing to change how we build homes across the country. It’s not just a matter of making an announcement about this or that project. It’s clearly part of our approach. It’s a change in the way we do zoning, accelerate densification, eliminate red tape, and speed up processes so that people can build houses more quickly. It will change the way we respond to the challenges facing our country.

Because the challenges of this country are we are growing. There are sectors of our economy that are booming, but the costs of housing, the cost of rent on top of the cost of groceries, the cost of fuel because of global factors are a huge pressure right now. And if we can increase the supply of housing right across the country as we continue to grow, as we continue to bring in the workforce we need from around the world, as we continue to make sure that Indigenous peoples can be full partners in the success and the prosperity we're building as a country, that changes the future that people can see themselves in, people who are wanting to retire and yes, get rid of a home that has become too large for them but don't want to leave their neighbourhood, want to be able to still know where they are and not have to go to some far off place. Those are solutions that we're bringing forward with the housing accelerator and the partnerships with municipalities. Young families who are getting their start, who can't see a path towards purchasing their own home the way previous generations had. This is something we're solving for. People who are looking at rents that are just too expensive to be able to even get the start in life they want to have. That's part of what we're solving for as well.

And this is a challenge that obviously requires multiple different solutions, which is what we're putting forward, but fundamentally requires us to work together. The federal government, the provincial government, municipal governments, Indigenous governments requires us to bring in innovative partners like Smart Modular to work with co-ops and non-profits and the public sector to actually grow opportunities for affordable housing, work with developers and project leads to make these things happen. The kind of partnership that Canadians have always shown, an ability to roll up our sleeves, lean on each other and get things done. That's what we're capable of as a country. That's what we've been able to do when we've solved big housing challenges in the past, whether it was the postwar growth after World War Two or the baby boom coming of age and wanting to buy homes. We have solved housing challenges before in this country. Right now, including in places like this, with the support of federal investment, we're doing it again.

So it's an incredible pleasure to be back here in Thunder Bay, great opportunity to share some good news with everyone, but also reaffirm our commitment to building a better future for all Canadians.

Thank you very much.