News Summary

Ontario Premier Doug Ford announced an additional $1.6 billion in funding to aid municipalities in the development of housing-enabling infrastructure. This initiative is part of the province’s ongoing efforts to reach the ambitious target of building 1.5 million homes by 2031. The funding will support various infrastructure projects, including roads, bridges, and water systems, under the Municipal Housing Infrastructure Program. Despite these efforts, Ontario is currently falling short of its interim housing goals, with construction initiated on 94,753 units in 2024, below the target of 125,000 homes. The announcement comes as the Canada Mortgage and Housing Corporation reports a 28% decline in Ontario’s housing starts in July year-over-year, contrasting with a national increase of 4%. Additional investments include nearly $39.5 million directed towards water infrastructure in five Huron-Bruce municipalities to facilitate the construction of approximately 4,974 new homes.