Laura has covered real estate in Toronto, New York City, Miami, and Los Angeles. Before coming to STOREYS as a staff writer, she worked as the Toronto Urbanized Editor for Daily Hive.
Premier Doug Ford announced on Thursday that the money would be provided to Toronto through the Ontario government's Building Faster Fund. For 2023, Toronto was given a target of building 20,900 new homes, which the city handily surpassed, seeing 31,656 new housing units break ground last year.“Toronto has shown it can get it done on housing and we are proud to reward them for their success,” Ford said.
Toronto, however, is just one of a handful of municipalities to reach their housing target in 2023, let alone surpass it. In fact, just 12 of the 27 cities with annual housing targets hit 100% of their goal, and only another seven hit 80%. Over the next few weeks, the Province will announce Building Faster Fund rewards for all other municipalities that achieved 80% or more of their targets.Vandyk Group Mired In Another Receivership Order As Lenders Allege $12M In DebtExclusive: Housing Minister Ravi Kahlon On How BC Built BC BuildsThis family home sits on a secluded, south-facing ravine lot and features a pristine outdoor pool — amongst so much more.
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Toronto gets $114M for exceeding Ontario housing targetsThe Ontario government is providing Toronto with $114 million as a reward for exceeding its provincially-set housing targets.
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