As part of its $214.5 billion 2024 budget unveiled today, the Government of Ontario rolled out several housing initiatives aimed at increasing supply and facilitating the development of purpose-built rentals.
The investments include a three-year $1.2 billion “Build Faster Fund” to help expedite the construction of new housing along with increased funding for core housing infrastructure.
The overall investments made throughout the budget come at the expense of a balanced budget, with the province now projecting a deficit of $9.8 billion in the coming fiscal year—nearly double its initial estimate in its Fall Economic Update.
Ontario budget housing highlights
The following are highlights of the government’s key housing-related announcements contained in its 2024 budget.
Housing supply and infrastructure
The government…
