New Ontario Government Incentives Will Help Bring More Affordable Homes to the Market
July 2nd, 2022

New Ontario Government Incentives Will Help Bring More Affordable Homes to the Market

Ontario Government Pushes For Production of Affordable Housing

As of July 1, the Ontario government has introduced several new regulations aimed at increasing the supply of affordable homes more rapidly. These measures, advocated by Ontario’s REALTORS® and outlined in the Housing Affordability Task Force report, include amendments to the Building Code allowing mass timber construction up to 12 storeys, and changes to the Planning Act granting city staff more autonomy over site planning decisions. These adjustments are designed to expedite development approvals and align Ontario with provinces like British Columbia and Quebec, enhancing the production of affordable housing while boosting the local forestry sector. Additionally, OREA’s CEO Tim Hudak has emphasized the need for further measures, such as ending exclusionary zoning in high-demand urban areas to permit multi-family units on lots traditionally zoned for single-family homes, and has proposed eight more recommendations for reducing red tape to tackle the housing affordability crisis more effectively.

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