Ontario Construction News staff writer
Ontario will send Hamilton $17.6 million because the city has exceeded its 2023 housing target, breaking ground on a total of 4,142 new housing units last year.
“Hamilton is getting it done on housing and we are glad to reward them for their success,” said Premier Doug Ford. “I’m so proud of Mayor Andrea Horwath and her council colleagues for exceeding their housing targets last year. My challenge to Mayor Horwath and to every mayor in Ontario is to get even more homes built in the coming years so we can make life more affordable and keep the dream of homeownership alive for families across the province. We’ll be there to support you every step of the way.”
The Building Faster Fund is a three-year, $1.2 billion program that is designed to encourage municipalities to address the housing supply crisis. The fund rewards municipalities that make significant progress against their targets by providing funding for housing-enabling and community-enabling infrastructure.
“It’s clear that Hamilton is working hard to facilitate the building of much needed housing,” said Andrea Horwath, Mayor of the City of Hamilton. “I am grateful to Council and staff for their commitment to meeting and exceeding our provincial housing target. There is no doubt that the people of our great City deserve access to stable housing they can afford. I remain steadfast in my commitment to fostering the growth of diverse housing options and ensuring every citizen has access to secure and affordable housing.”
In 2023, Ontario reached 99 per cent of its target of 110,000 new homes, which includes housing starts, additional residential units and new and upgraded long-term care beds.
Ontario broke ground on 18,992 rental starts in 2023, the highest number of rental starts on record.
“The City of Hamilton has done a tremendous job in exceeding their housing target. That’s why our government is proud to invest back into this city to help build more homes,” said MPP Neil Lumsden. “This investment will be vital in meeting the increased housing needs as more families choose Hamilton as their home. In Hamilton, we are getting it done.”
