Ottawa, ON — Ontario has awarded two cities funding through the Building Faster Fund for reaching its housing targets: Pickering and Clarington.
The province awarded both the city of Pickering and the town of Clarington $5,200,000 and $2,877,680, respectively.
The Building Faster Fund was launched in August 2023 and is a three-year, $1.2 billion program designed to encourage municipalities to speed up approval processes and build more homes faster. To achieve funding, municipalities must achieve at least 80 per cent of their provincially designated housing targets.
The city of Pickering was awarded the funding for breaking ground on 1,880 new homes in 2024, which works out to 174 per cent of its 2024 housing target. The city of Clarington was awarded the funding for breaking ground on 899 new homes in 2024, achieving 83 per cent of its 2024 housing target.