Every new home built requires $100,000 in infrastructure spending: report
BNN Bloomberg
As Canada aims to build homes faster, both the public and private sectors will need to boost spending on municipal infrastructure, a new report from the Canadian Urban Institute says.
The report, funded by the Canada Infrastructure Bank, estimated the average cost of infrastructure needed to support housing likely exceeds $100,000 for each newly built home. That includes funding for resources such as public transit, roads, water lines, schools, fire halls or recreational facilities.
The total cost of housing-related infrastructure doesn't constitute an "immediate price tag," said report author Michael Fenn, Ontario's former deputy minister of municipal affairs and housing. But he said coming up with a plan to finance the needs of residents is a crucial element to solving Canada's housing crisis.
"Some of that infrastructure is required right away. I mean, you have to flush a toilet, you have to turn on the taps in a new house. But other infrastructure is a little farther out," he said in an interview.
