Ontario Building Faster Fund: Tracker

With Ontario’s goal of creating 1.5 million new homes by 2031 looming, the Province is handing out funding to municipalities that are helping to get it there.

The parameters are pretty cut and dry: the Ford government has set housing targets for 50 of Ontario’s largest and fastest-growing municipalities and is now in the process of ‘rewarding’ those that have hit at least 80% of their target for 2023. Said funding will come out of the Building Faster Fund — a three-year, $1.2B incentive program unveiled last August — and can be used towards housing-enabling infrastructure like site servicing, roads, and public utilities, and other shovel-ready projects that support home- and community-building.

Municipalities that have exceeded their targets for 2023 can expect to receive bonus funding.

It’s worth noting that the Province has a pretty broad definition of what classifies “housing progress.” Monthly housing start data from Canada Mortgage and Housing Corporation, data on additional residential units (such as laneway, garden, and basement suites added to existing homes), and data on long-term care beds from the Ministry of Long-Term Care are all being considered when determining funding eligibility.

1. February 22, 2024: Toronto

Amount: $114M
2023 Target: 20,900
2023 Housing Progress: 151%
10-Year Target: 285,000

2. February 23, 2024: Brampton

Amount: $25.5M
2023 Target: 8,287
2023 Housing Progress: 85%
10-Year Target: 113,000

3. February 23, 2024: Chatham-Kent

Amount: $440,000
2023 Target: 81
2023 Housing Progress: 644%
10-Year Target: 1,100

4. February 26, 2024: Brantford

Amount: $3M
2023 Target: 733
2023 Housing Progress: 108%
10-Year Target: 10,000

5. March 1, 2024: Whitchurch-Stouffville

Amount: $2.6M
2023 Target: 477
2023 Housing Progress: 239%
10-Year Target: 6,500

6. March 01, 2024: Welland

Amount: $1.72M
2023 Target: 315
2023 Housing Progress: 276%
10-Year Target: 4,300

7. March 01, 2024: Belleville

Amount: $1.24M
2023 Target: 227
2023 Housing Progress: 284%
10-Year Target: 3,100

8. March 08, 2024: Milton

Amount: $8.4M
2023 Target: 1,540
2023 Housing Progress: 127%
10-Year Target: 21,000

9. March 11, 2024: Peterborough

Amount: $1.88M
2023 Target: 345
2023 Housing Progress: 147%
10-Year Target: 4,700

10. March 11, 2024: St. Catharines

Amount: $2.3M
2023 Target: 807
2023 Housing Progress: 80%
10-Year Target: 11,000

11. March 13, 2024: Sarnia

Amount: $400,000
2023 Target: 73
2023 Housing Progress: 348%
10-Year Target: 1,000

12. March 13, 2024: Pickering

Amount: $5.2M
2023 Target: 953
2023 Housing Progress: 158%
10-Year Target: 13,000

13. March 14, 2024: Guelph

Amount: $4.68M
2023 Target: 1,320
2023 Housing Progress: 98%
10-Year Target: 18,000

14. March 14, 2024: North Bay

Amount: $400,000
2023 Target: 73
2023 Housing Progress: 277%
10-Year Target: 1,000

15. March 15: 2024: Caledon

Amount: $2.8M
2023 Target: 953
2023 Housing Progress: 82%
10-Year Target: 13,000

16. March 15: 2024: Barrie

Amount: $6.34M
2023 Target: 1,687
2023 Housing Progress: 102%
10-Year Target: 23,000

17. March 22: 2024: Hamilton

Amount: $17.5M
2023 Target: 3,447
2023 Housing Progress: 120%
10-Year Target: 47,000

18. April 2, 2024: Innisfil

Amount: $2.5M
2023 Target: 462
2023 Housing Progress: 160%
10-Year Target: 6,300

19. April 4, 2024: Kingston

Amount: $3.2M
2023 Target: 587
2023 Housing Progress: 250%
10-Year Target: 8,000

20. April 4, 2024: Kawartha Lakes

Amount: $1.5M
2023 Target: 477
2023 Housing Progress: 90%
10-Year Target: 6,500

21. April 4, 2024: Thunder Bay

Amount: $870,000
2023 Target: 161
2023 Housing Progress: 124%
10-Year Target: 2,200

22. April 4, 2024: Georgina

Amount: $1.5M
2023 Target: 455
2023 Housing Progress: 92%
10-Year Target: 6,200

23. April 5, 2024: Greater Sudbury

Amount: $1.52M
2023 Target: 279
2023 Housing Progress: 156%
10-Year Target: 3,800

24. April 5, 2024: Ottawa

Amount: $37.5M
2023 Target: 11,073
2023 Housing Progress: 93%
10-Year Target: 151,000

25. April 11, 2024: Kitchener

Amount: $14M
2023 Target: 2,567
2023 Housing Progress: 139%
10-Year Target: 35,000

Total Amount To Date: $260,990,000

From Your Site Articles

Policy

Every Ontario Municipality To Qualify For The Building Faster Fund In 2023 (MAP)

Keeping track so you don’t have to: these are the municipalities that hit at least 80% of their provincially mandated housing target last year.

Total Amount To Date: $260,990,000

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The Broadway-Commercial Safeway redevelopment by Westbank and Crombie REIT has seen numerous revisions over the past few years, and is going to get another.

The next group of municipalities to receive housing targets under the Housing Supply Act include Surrey, Kelowna, and New Westminster, among others.

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Zoocasa crunched the numbers to see where it’s the most affordable to buy a home along the GO Station line.