In 2025, Richmond Hill started construction on 2,228 new homes, reaching 83 percent of its housing goal for that year.
The Ontario government is giving the City of Richmond Hill $5.94 million as part of the third round of the Building Faster Fund, which supports municipalities that meet at least 80 percent of their assigned housing targets.
According to a provincial government news release, Richmond Hill achieved this milestone by breaking ground on 2,228 new homes in 2025.
This funding will assist the city in developing more homes and community infrastructure while furthering the province’s plan to protect Ontario by investing in projects that foster economic growth and maintain employment for workers.
“Congratulations to the City of Richmond Hill for your work to get shovels in the ground to build more homes,” said Rob Flack, minister of Municipal Affairs and Housing. “As we look to the future, our government will continue delivering programs and legislative changes that enable partners like Richmond Hill to successfully grow. Together, we are building better lives and brighter communities for the people of Ontario.”
Launched in August 2023, the Building Faster Fund is a three-year program with up to $1.2 billion available to help municipalities accelerate home construction. The fund rewards those making significant progress towards their housing targets by providing financial support for necessary infrastructure.
“Richmond Hill is very grateful to the Ontario government for this funding,” said David West, mayor of Richmond Hill. “It is a testament to the significant progress we made in 2025. We will never stop working hard to create more homes for our community, including affordable housing and long-term care housing that are desperately needed. As the mayor and as a resident, I’m proud of everything we have done to tackle this challenge that we all face across the province.”
The Ontario government is also expediting new home construction and infrastructure development by simplifying development processes and cutting unnecessary costs through recent legislation such as the Building Homes and Improving Transportation Infrastructure Act, 2026 and the HST Relief Implementation Act (Residential Property Rebates), 2026.
As part of an up-to $8.8 billion partnership between Canada and Ontario aimed at building more homes, Ontario has introduced a Development Charge Reduction Program which provides funding for housing-enabling infrastructure projects over ten years. Funding will be prioritized for municipalities that reduce or maintain reductions on development charges. The agreement also facilitates removing HST on new homes from April 1, 2026 until March 31, 2027-potentially saving homebuyers up to $130,000 on new home costs. Together these initiatives aim at improving affordability while supporting builders getting started with new projects and keeping workers employed.
From January to May 2026 alone there were 13,599 rental starts-a staggering increase of 94.9 percent compared to last year’s figures during this period; setting a record number for rental starts at this time.
To facilitate more housing opportunities while supporting expanding communities-the government is extending municipal deadlines for spending funds allocated through the Building Faster Fund until 2028.
Ontario has committed over $204 million across York Region through its Municipal Housing Infrastructure Program aiming at enabling over 60 thousand additional homes-of which Richmond Hill receives just over $4 million.
Source link
Quick Facts
From January to May 2026, Ontario saw a total of 26,084 housing starts-up by 17.2 percent compared with January-May in 2025.From January to May 2026 alone there were 13,599 rental starts-a staggering increase of 94.9 percent compared to last year’s figures during this period; setting a record number for rental starts at this time.
To facilitate more housing opportunities while supporting expanding communities-the government is extending municipal deadlines for spending funds allocated through the Building Faster Fund until 2028.
Ontario has committed over $204 million across York Region through its Municipal Housing Infrastructure Program aiming at enabling over 60 thousand additional homes-of which Richmond Hill receives just over $4 million.
Source link
