OREA CEO Tim Hudak’s Statement on Ford Government Housing Announcement

“With Ontario’s ambitious goal of building 1.5 million new homes across the Province, today’s $1.8 billion investment into housing-enabling infrastructure is a welcome announcement.

The new $1-billion Municipal Housing Infrastructure Program is an important step in ensuring Ontario’s communities have the necessary municipal infrastructure in place – such as roads, sewers, and water reservoirs – to enable new growth and support gentle densification.

The Ontario Real Estate Association (OREA) also commends the Ford Government for quadrupling their investment into the Housing-Enabling Water Systems Fund, to help support the repair and expansion of water, wastewater, and stormwater infrastructure across the province – a key piece of unlocking more supply.

As outlined in OREA’s latest report, Ontario REALTORS® urge the Government to go a step further, designing and creating a new municipal services corporation for water and wastewater projects. These projects are often the most expensive part of development charges, adding up to $50,000 onto the cost of a new home. A utility model, which is successfully used for gas and hydro already, would allow new infrastructure projects to be amortized over time, offering increased financial flexibility for municipalities building new subdivisions and expanding existing infrastructure in support of gentle densification.

Building more homes on existing properties is an essential key to unlocking affordable homeownership. Several municipalities, including Toronto, London, and Barrie, have led the way by proactively enabling four units as-of-right per lot, and it remains a key recommendation of the Province’s own Housing Affordability Task Force.

These multi-family properties can and do fit the character of the neighbourhoods they’re in – ranging from stacked townhomes and two-story ‘duplexes’ featuring a front and back unit, or a semi with two basement suites – and offer Ontarians greater choice when it comes to budget, location, lifestyle, and type of property.

The Ontario Government has set a bold goal for housing: now is the time for continued bold action. Ontario’s economic and social future depends on it.”

- Tim Hudak, CEO of the Ontario Real Estate Association