Ontario Construction News staff writer
The government of Ontario is granting the City of Guelph over $3.69 million through the second phase of the Building Faster Fund, recognizing the city’s strides toward meeting provincial housing goals.
Guelph will be awarded $3.7 million after starting construction on 1,279 new homes in 2024, exceeding 85 percent of its annual housing target. To qualify for funding under this program, municipalities must achieve at least 80 percent of their targets.
Mayor Cam Guthrie mentioned that this funding will aid the city’s initiatives to boost housing availability and invest in necessary infrastructure.
The Building Faster Fund, launched in August 2023, is a three-year initiative worth $1.2 billion aimed at speeding up housing approvals and construction. This funding is directed towards municipalities for infrastructure that supports housing and community development.
Rob Flack, Minister of Municipal Affairs and Housing, stated that the program’s goal is to hasten housing construction while also promoting investment in infrastructure.
The province has also announced over $2 million for Guelph through the Municipal Housing Infrastructure Program. According to officials, this funding will assist in building nearly 2,000 new homes.
As per provincial data, Ontario saw 18,103 rental housing starts from January to October 2025, which marks an increase of more than 34 percent compared to the same timeframe in 2024. The government has extended the deadline for municipalities to utilize their Building Faster Fund allocations until 2028.
The province plans to provide a rebate on the provincial portion of HST for first-time buyers purchasing most new homes priced up to $1 million, pending federal legislation approval.
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