Province announces $14M for Kitchener exceeding 2023 housing target
Posted Apr 11, 2024 10:51:02 AM.
Last Updated Apr 11, 2024 11:07:22 AM.
Premier Doug Ford announced Thursday in Kitchener that the city is receiving $14-million for exceeding its 2023 housing target.
The funding comes through the ‘Building Faster Fund’ with the City of Kitchener breaking ground on a total of 3,579 new housing units in 2023.
“Kitchener is getting it done on housing and we are proud to reward them for their success,” said Premier Doug Ford in a release. “I’m so proud of Mayor Berry Vrbanovic and his council colleagues for leading Kitchener toward exceeding their housing targets last year. My challenge to Mayor Vrbanovic 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 encourages municipalities to address the housing supply crisis in the province. The fund allows municipalities to receive funding for making significant progress against their targets by providing for funding for housing-enabling and community-enabling infrastructure.
Municipalities that have achieved at least 80 per cent of their provincially assigned housing target for the year will get increased funding through the ‘Building Faster Fund‘ for exceeding their target.
“Today’s announcement of a $14 million investment by the Province of Ontario from its Building Faster Fund is another example of transformative funding that will enable the City of Kitchener to work with partners to get more homes built across the housing continuum in our rapidly growing community,” said Berry Vrbanovic, Mayor of the City of Kitchener.
Vrbanovic also said how important this is for the people of Kitchener.
“I want to thank Premier Ford, Minister Calandra and the Government of Ontario for believing in our community since first highlighting Kitchener’s leadership in tackling the housing crisis on the day after the last municipal election. Tackling this challenge will take an all of community approach with all orders of government and the private and not-for-profit sectors working together to ensure every Ontario resident, has both a roof over their head, and any supports they may need, in order to live a great life.”
More to come.
