Is More Housing Coming to Mississauga?
It’s true - rental and affordable housing is hard to come by all across Ontario. Our population is increasing and there may not be enough housing options available to support it. Now, the province is moving forward on getting more homes built across the province in an attempt to streamline the housing development process.
The rental housing crisis is real, according to a new study by Urbanation, which reveals that unless the rental housing supply is addressed across the province, vacancy rates will continue to decrease and limit renter choice. Some residents can now find solace in the fact that Ontario is planning to build housing faster to support the increasing demand.
So, how is the province doing this?
A brand new team - the Housing Delivery Group - has been established to help streamline the development process and tackle some of the challenges that prevent housing projects from being built. Ultimately, the new team is set to work with municipalities and developers to boost the housing supply across the province.
“Over the coming months, the Housing Delivery Group will work with individual developers, municipalities and other organizations to reduce barriers for specific housing projects that meet the needs of local communities. The team will help all parties work together and overcome challenges that prevent new homes from being built,” said the province in a statement.
While the group will focus on rental projects and affordable home ownership, all of its initiatives will be geared towards both families and seniors, ensuring complete communities that are accessible, livable, and close to transit and other services.
“Reducing barriers to residential developments will help create vibrant neighbourhoods, giving Ontario families access to new places to live,” said Peter Milczyn, minister of housing and minister responsible for the poverty reduction strategy
This new team hasn’t come out of nowhere. The Housing Delivery Group is indeed part of Ontario’s Fair Housing Plan, which aims to help more people find a home that suits their budget, while bringing stability to the real estate market and protecting homeowners' investments.
According to Urbanation, rental housing supply will continue to diminish and vacancy rates will drop further unless at least 6,250 additional new rental units are built each year for the next decade, in addition to the expected level of new development.
How soon the Housing Delivery Group will deliver new homes faster to meet demand remains to be seen.