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Governments target housing infrastructure in Ontario

By Adam Freill   

Construction Infrastructure Residential

Joint statement from feds, province and municipalities outlines $4.7 billion federal spend on housing-related infrastructure in Ontario.

Funding commitments have been made for a Canada Community-Building Fund (CCBF) agreement that will see housing and infrastructure built in Canada’s most populated province.

In a joint statement, Sean Fraser, Canada’s minister of housing, infrastructure and communities, Paul Calandra, Ontario’s minister of municipal affairs and housing, Olivia Chow, mayor of Toronto, and Colin Best, president of the Association of Municipalities of Ontario (AMO), released a joint statement outlining the CCBF agreement between the three levels of government.

The statement says that the agreement “will ensure that critical infrastructure that supports housing continues to be built, maintained and expanded. The renewal of this agreement means that our communities’ roads, bridges, and transit systems will be positioned to accommodate growth.”

The CCBF helps municipalities plan their schedule of projects by providing predictable and sustainable funding to the communities. Under this agreement, the federal government says it will commit to spending $4.7 billion over the next five years.

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“RCCAO welcomes news that all three levels of government have finalized an agreement through the Canada Community-Building Fund that will see Ontario’s municipalities receive $4.7 billion in infrastructure funding over five years,” stated Nadia Todorova, executive director of the Residential and Civil Construction Alliance of Ontario (RCCAO). “This funding is crucial for municipalities across Ontario who are facing a growing and unsustainable state of good repair backlog. The City of Toronto alone faces an alarming $26 billion shortfall that, if unaddressed, would carry devastating consequences for quality of life and economic growth.”

“The renewal of the CCBF is a testament to the importance of infrastructure in building strong and sustainable communities,” added Walid Abou-Hamde, chief executive officer with the Ontario Road Builders Association. “This significant investment will not only enhance our transportation network but also play a crucial role in addressing the housing needs of Ontarians.”

“We recognize the importance of infrastructure in increasing Canada’s housing supply,” said the government representitives in their joint statement. “By working together to strategically invest in projects aligned with regional housing goals, we will help increase the number of affordable homes in Ontario.”

 

www.ontario.ca

www.infc.gc.ca

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