Ontario Investing Over $1.8 Billion to Build More Homes

New housing-enabling infrastructure funding will help municipalities get shovels in the ground

The Ontario government is investing more than $1.8 billion in housing-enabling infrastructure funding to help build at least 1.5 million homes by 2031. This funding includes $1 billion for the new Municipal Housing Infrastructure Program and $625 million more for the Housing-Enabling Water Systems Fund, bringing its total funding to $825 million. This new funding complements existing and ongoing provincial investments in housing- and community-enabling infrastructure, including the $1.2 billion Building Faster Fund, the original $200 million investment in the Housing-Enabling Water Systems Fund and the investment of nearly $2 billion for the Ontario Community Infrastructure Fund since 2021–22.

The new $1 billion Municipal Housing Infrastructure Program will support core infrastructure projects that help enable housing for growing and developing communities, such as roads and water infrastructure. This funding will help municipalities get shovels in the ground on critical infrastructure that will lay the groundwork for more homes across the province, with an emphasis on projects that can build the greatest number of homes. More information about the program, including eligibility and application intake details, will be announced later this year.

Ontario is more than quadrupling its investment from $200 million to $825 million over three years to expand the Housing-Enabling Water Systems Fund, which will help municipalities repair, rehabilitate and expand drinking water, wastewater and stormwater infrastructure needed to build more homes. First announced in the 2023 Fall Economic Statement, municipalities can still submit an application for the program until April 19, 2024.

Ontario is also supporting housing outcomes through its Building Faster Fund, that was announced in August 2023 to provide up to $1.2 billion over three years to reward municipalities that are building more homes. The fund is designed to help municipalities pay for critical housing- and community-enabling infrastructure needed to accommodate growth, such as site servicing and building new roads. The Building Faster Fund includes $120 million that is being reserved for small, rural and northern municipalities to help build housing-enabling infrastructure and prioritize projects that speed up the increase of housing supply.

The government is giving municipalities the tools they need to build more homes faster and tackle the affordability crisis that is pricing too many people, especially young families and newcomers, out of the dream of homeownership. In partnership with municipalities, Ontario will continue working hard to unlock housing opportunities and support growing communities. The province continues to call on the federal government to pay its fair share and help fund housing-enabling infrastructure investments, and support vibrant, growing communities.

The government will provide more information on its plan to build critical infrastructure, while keeping costs down for families and businesses in the 2024 Budget, to be released on March 26.