Ontario Government Commits $1.2 Billion to Boost Housing Supply through Water Infrastructure Investments

MISSISSAUGA — In a major move to tackle Ontario’s housing supply crisis, the provincial government has announced a $1.2 billion investment in water infrastructure to support the construction of over 500,000 new homes across the province. The initiative, part of the Housing-Enabling Water Systems Fund, will see $970 million distributed in its first round to 54 projects across 60 municipalities. An additional $250 million has been allocated for a second round of applications starting on August 14, raising the total fund amount.

“Our government’s historic investments in infrastructure are helping to tackle Ontario’s housing supply crisis and get more homes built across the province,” said Premier Doug Ford at a press conference in Mississauga. “The investments we are announcing today alone will help get more than half-a-million homes built, including nearly 47,000 here in Peel Region. We’re going to keep working with our municipal partners to make the dream of homeownership a reality for more families across Ontario.”

Today, I was thrilled to be in Mississauga to announce that our government’s $1.2 billion water infrastructure fund is supporting the construction of more than 500,000 homes in 60 municipalities, including nearly 47,000 in Peel Region!

With our historic investments in… pic.twitter.com/fIPGxLmo7e

— Doug Ford (@fordnation) August 7, 2024

The first round of funding includes a significant $35 million allocation to the Regional Municipality of Peel to support the expansion of the G.E. Booth Water Resource Recovery Facility. This project is expected to enable the construction of 46,784 housing units in the region by extending water systems and installing new features such as an aeration tank and filtering systems. Additional funded projects will be announced in the coming weeks.

“By investing in drinking water and wastewater treatment facilities and connecting pipes to land, we are helping municipalities build more homes,” said Kinga Surma, Minister of Infrastructure. “Homes can’t be built without connections to drinking water and wastewater.”

In the latest provincial budget, the Ontario government earmarked more than $1.8 billion for housing-enabling infrastructure, including the $825 million Housing-Enabling Water Systems Fund and the $1 billion Municipal Housing Infrastructure Program. In response to high demand, the government is reallocating $275 million from the Municipal Housing Infrastructure Program to the Housing-Enabling Water Systems Fund. Additionally, $120 million from the Building Faster Fund, reserved for small, rural, and northern communities, will be distributed through this fund.

“When interest rates began to soar and put significant pressure on housing starts, our government focused on making historic investments in infrastructure so that our municipal partners would have the tools in place to unleash development as soon as the Bank of Canada began cutting rates, which Premier Ford has called for repeatedly,” said Paul Calandra, Minister of Municipal Affairs and Housing. “We have heard loud and clear that infrastructure is the number one obstacle for our partners and we will continue to do everything we can to help them build more homes faster.”

Further information on the remaining funding in the Municipal Housing Infrastructure Program, including eligibility and application intake details, will be announced in the coming weeks.

This significant investment underscores the Ontario government’s commitment to addressing the housing supply crisis by ensuring municipalities have the necessary infrastructure to support new housing developments. As the province continues to grow, these investments are crucial in making the dream of homeownership a reality for more Ontarians.