Ontario Rewards Guelph With $3.6 Million Through Building Faster Fund
Ontario Building Faster Fund rewards Guelph for exceeding provincial housing targets in 2024
GUELPH — Ontario is awarding the City of Guelph more than $3.6 million through the second round of the province’s Building Faster Fund, recognizing the city for surpassing its provincial housing targets in 2024.
The funding total of $3,692,960 is being delivered after Guelph broke ground on 1,279 new homes last year, achieving more than 85 per cent of its provincially assigned housing target. To qualify for the program, municipalities must reach at least 80 per cent of their annual housing goal.
Rewarding Housing Progress
The Building Faster Fund is a three-year, $1.2-billion provincial program, launched in August 2023, designed to encourage municipalities to accelerate development approvals and increase housing supply. Municipalities that make meaningful progress toward their targets receive funding for housing-enabling and community infrastructure.
A great day for #Guelph! 🏡
Yesterday, I stood alongside Mayor @CamGuthrie to reward the @cityofguelph with our final Building Faster Fund cheque of the year for getting shovels in the ground on new homes.
Thank you, Mayor Guthrie and your council, for accelerating homebuilding… pic.twitter.com/vxbNbdB3iy
— Rob Flack (@RobFlackEML) December 16, 2025
“Our government is relentlessly focused on kickstarting the housing sector,” said Rob Flack, Minister of Municipal Affairs and Housing. “That is why we introduced the Building Faster Fund, along with the Fighting Delays, Building Faster Act and the provincial HST rebate for first-time home buyers. We’re working alongside our municipal partners with investments to help build more homes and keep workers in tariff-hit sectors on the job.”
Additional Infrastructure Support
Beyond the Building Faster Fund allocation, Ontario is also investing more than $2 million in Guelph through the Municipal Housing Infrastructure Program, funding that is expected to help enable the construction of nearly 2,000 additional homes.
Local leaders say the combined investments will support a broader range of housing options while helping the city respond to Ontario’s housing supply pressures.
“We are thrilled that Guelph has successfully met its 2024 housing target, which has enabled us to secure much-needed support from the Ontario government through their Building Faster Fund,” said Cam Guthrie. “This funding will play a crucial role in our continued efforts to create diverse housing options for our community. I want to thank the provincial government for their support, as we work together to enhance our city’s livability and meet this housing crisis head on.”
Province-Wide Housing Push
The funding announcement comes as Ontario continues to advance multiple legislative and policy measures aimed at speeding up housing construction, including the Fighting Delays, Building Faster Act, 2025 and the Protect Ontario by Building Faster and Smarter Act, 2025.
According to provincial data, Ontario recorded 18,103 rental housing starts between January and October 2025, a 34 per cent increase compared to the same period in 2024 and the highest year-to-date total on record.
The province has also extended the deadline for municipalities to spend Building Faster Fund allocations to 2028, giving local governments additional flexibility to deliver infrastructure tied to new housing.
SOURCE: Ministry of Municipal Affairs and Housing
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