Guelph awarded over $3.6M after hitting provincial housing targets
Posted Dec 16, 2025 10:17:00 AM.
Last Updated Dec 16, 2025 11:00:46 AM.
The City of Guelph will be awarded over $3.6 million in new funding from the Ontario government after hitting key figures for its designated housing targets.
It comes from the province’s Building Faster Fund, which was established in 2023 to help speed up housing projects across Ontario through an incentivized program.
The province is doling out $1.2 billion over three years to municipalities that achieve at least 80 per cent of designated housing targets.
In Guelph, it’s surpassed that number, constructing 1,279 new homes in 2024, meaning it achieved more than 85 per cent of the target from the Ontario government.
“We are thrilled that Guelph has successfully met its 2024 housing target, which has enabled us to secure much-needed support from the Ontario government through their Building Faster Fund,” said Cam Guthrie, Mayor of the City of Guelph.
After achieving the number, the province is now awarding the City of Guelph $3,692,960 through the second round of its Building Faster Fund, hoping it will help the city continue the work it’s already been doing.
“This funding will play a crucial role in our continued efforts to create diverse housing options for our community,” Guthrie stated. “I want to thank the provincial government for their support, as we work together to enhance our city’s livability and meet this housing crisis head on.”
On top of the money released through the fund, the Ontario government also stated it will be giving the municipality additional funding of over $2 million through the Municipal Housing Infrastructure Program.
It stated that it hopes that this will help to construct nearly 2,000 more homes in Guelph.
The province stated that “from January to October 2025, Ontario saw 18,103 rental starts, an increase of more than 34 per cent compared to the same period in 2024,” adding that it makes it the highest level of rental starts on record for this time of year.
Other municipalities that haven’t hit the 80 per cent threshold for targets are being given additional time, with the province extending the deadline through to 2028.
