$5.2 million provincial reward for Pickering, Ontario for exceeding housing targets

Housing starts may be down in most Ontario communities but construction in Pickering is moving forward with gusto, with the city earning itself a healthy $5.2 million reward from the province for exceeding its housing targets.

Pickering broke ground on 1,880 new homes in 2024, which works out to 174 per cent of its 2024 housing target, to score its reward from the Building Faster Fund, which provides funding to municipalities that achieve at least 80 per cent of their provincially designated housing targets.

The funding will help Pickering build more homes and community infrastructure and supports the province’s plan to support economic growth and keep workers on the job.

“For the second year in a row, Pickering has shown strong leadership by exceeding it’s housing targets,” said Ontario Finance Minister Peter Bethlenfalvy, who is also the MPP for Pickering-Uxbridge. “This $5.2 million investment from the Building Faster Fund will further accelerate vital housing projects underway in Pickering.”

The program, launched in August 2023, is a three-year, $1.2 billion plan designed to encourage municipalities to speed up approval processes and get more homes built faster. The program rewards municipalities that make significant progress against their targets by providing funding for housing-enabling and community-enabling infrastructure.

Additionally, the Building Faster Fund is complemented by an investment of nearly $81 million in municipalities across Durham Region through the Municipal Housing Infrastructure program, which will enable the construction of more than 200,000 new homes. This includes more than $5.1 million to the City of Pickering.

“As one of Ontario’s fastest growing cities, Pickering is proud to answer the call by increasing housing supply and providing more choice for new and existing residents at every stage of life,” said Pickering Mayor Kevin Ashe. “We thank the Ontario government for its partnership through the Building Faster Fund, which is enabling more Ontarians to achieve the dream of home ownership and helping us shape a vibrant, inclusive future for Pickering.”

The Ontario government is also helping to speed up the construction of new homes and infrastructure by streamlining development processes and reducing costs in close partnership with municipalities.

“I commend Mayor Ashe for taking bold and decisive action to get homes built faster in Pickering,” said Housing Minister Rob Flack. “Through the Building Faster Fund … our government is equipping municipalities across Ontario with every tool in our toolbox to get shovels in the ground, so families can find a place to call home.”

From January to September 2025 Ontario saw 17,202 rental starts, an increase of 38 per cent compared to the same period in 2024. This is the highest level of rental starts on record for this time of the year.

To help make way for more housing opportunities and support growing communities, the government is also giving municipalities more time to spend funds awarded through the Building Faster Fund, extending the deadline to 2028.