Kingston is set to receive a $3.2 million grant from the provincial government, thanks to the Building Faster Fund, as announced at a press conference held at Kingston City Hall on Friday.
This funding is allocated to municipalities that meet more than 80 percent of their housing targets set by the province.
According to Conservative MPP and Minister of Municipal Affairs and Housing Rob Flack, Kingston surpassed its target by 26 percent.
“I’m proud to present you guys today with a check of $3.2 million, which is going to go into needed infrastructure – getting in the groundwater, wastewater, stormwater, whatever you deem necessary,” Flack said during the press conference on July 10. “I just want to say thank you, Kingston, for a job well done. It’s great to see repeat success, and I know the best is yet to come.”
Flack was joined at the podium by Kingston Mayor Bryan Paterson and Conservative MPP for Lanark-Frontenac-Kingston, John Jordan. Liberal MPP for Kingston in the Islands Ted Hsu was also present but sat in the front row of the audience alongside several members of Kingston City Council.
“In Kingston we are particularly proud of the fact that every year that this fund has been in place, that we have well exceeded our housing targets,” Paterson stated at the event. “We put our heads down as a council; we worked hard to be able to get those shovels in the ground and get that housing built.”
Paterson emphasized it was a collaborative effort between provincial officials and local leaders.
“I can assure you, Minister, that money will be put to good use with housing-enabling infrastructure so we can get those pipes in the ground so we can get all those pieces in place so we can continue to see more housing built here in Kingston.”
Later on, Paterson confirmed that this funding had already been included in their capital plans for this year and served as an extra motivation for them to ensure they exceeded their targets.
When asked by the Whig-Standard if this would significantly affect Kingston’s rental market following a June Zumper report indicating an 11 percent increase year-over-year in one-bedroom rent within the city, Paterson referenced recent Statistics Canada data showing a decline in year-over-year rents in Kingston.
“Just this week, Statistics Canada introduced data that showed over the last year rents have fallen in Kingston and they’ve fallen by a greater percentage than any other city in Canada,” he explained. “It’s a positive step in the right direction. Do we have a long way to go? Yes, we do.”
Flack mentioned he attributes Ontario’s overall decrease in rental costs partly due to a 2023 policy that removed HST on purpose-built rentals.
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