Nearly 800 new housing units broke ground in Caledon last year, province rewards progress with $2.8M
Published March 15, 2024 at 11:01 am
Moving closer to its housing target has led the Ontario government to lend Caledon a helping hand toward its goal with more than $2.8 million in funding.
The money comes from Ontario’s Building Faster Fund, which rewards municipalities for meeting more than 80 per cent of its provincially set housing targets last year.
The province says some 778 new housing units were started in Caledon in 2023, or 82 per cent of a target of 953, leading to a $2,830,080 funding commitment to support housing development.
Any unspent funding will be made available for housing-enabling infrastructure to all municipalities in Ontario.
The province has set an ambitious target of building 1.5 million new homes in Ontario by 2031, with Caledon expected to start 13,000 builds.
Mayor Annette Groves said Caledon is committed to meeting its targets in order “to bring much-needed housing to Caledon.”
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“Caledon is growing rapidly and we extend our sincere gratitude for the funds we are receiving from the provincial Building Faster Fund,” Groves said in a statement.
Tallying up the totals includes new housing starts and additional residential units, but also includes counting a long-term care bed as a “housing unit.” The province has not shared how many of the new starts in 2023 came from which category.
Brampton has also received $25.5 million in funding under the program after hitting 85 per cent of its target in 2023 of 8,287 new housing starts. The province says Brampton had 2,903 new housing starts, 3,965 additional residential units, and 160 long-term care beds in 2023.
The province says Ontario reached an overall 99 per cent of its target of 110,000 new homes in 2023 and broke ground on nearly 19,000 rental starts.
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