Ontario Rewards Toronto with $67.2 million through the Building Faster Fund

June 6, 2025

• Our government is protecting Ontario by helping municipalities get more shovels in the ground to build the homes people need.
• As part of our record-breaking investments in housing-enabling infrastructure, Ontario is rewarding the City of Toronto with $67.2M through the second round of our Building Faster Fund.
• Toronto broke ground on 20,999 new homes in 2024, which works out to 88 per cent of its provincially designated 2024 housing target.
• This funding will help Toronto to speed up municipal approval processes and get more homes built faster, including housing-enabling and community-enabling infrastructure.
• By speeding up builds and reducing delays, we’re helping municipalities grow, strengthening Ontario’s economy, and keeping the dream of homeownership alive for more for Ontario families, first time home buyers, and seniors.