Ontario set to reduce developer charges to spur new home construction
BNN Bloomberg
Reducing developer charges, allowing more units on one residential lot, and pursuing rent-to-own programs are among a host of measures Ontario announced Tuesday aimed at tackling the housing crisis.
The Progressive Conservative government has promised to build 1.5 million homes in 10 years, and introduced new legislation intended to spur and speed up development.
The province has identified 29 municipalities in which the bulk of new housing will need to be built in order to reach that provincewide goal, and will require them to develop "pledges" of how they will meet their assigned targets, though there are so far no consequences for falling short.
Toronto will need 285,000 new homes, Ottawa will need 151,000, Mississauga will need 120,000 and Brampton will need 113,000, the province says. Ontario has previously granted the heads of Toronto and Ottawa so-called strong mayor powers to overrule council when votes conflict with building housing.
