OAKVILLE, ONT. – The Ontario government is giving the Town of Oakville $13.2 million and Milton $8.4 million as part of the second round of the Building Faster Fund, which supports municipalities that meet at least 80 per cent of their designated housing targets.
In 2024, Oakville started construction on 3,679 new homes, which is 134 per cent of its housing target for that year, according to a release.
Milton began work on 2,260 new homes in 2024, reaching nearly 130 per cent of its housing goal for the year. This funding will help both communities build additional homes and enhance community infrastructure.
The Building Faster Fund was announced in August 2023 and is a three-year program worth $1.2 billion aimed at helping municipalities expedite approval processes to get more homes built quickly.
This initiative rewards municipalities that make significant strides toward their targets by offering financial support for housing-enabling and community-enabling infrastructure.
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