Premier Doug Ford announced yesterday that the city of Barrie will receive a significant financial boost of $6,344,201 as a reward for surpassing its 2023 housing targets. This funding injection comes as part of Ontario’s efforts to address the pressing housing crisis gripping the province.
Barrie exceeded expectations by breaking ground on 1,716 new housing units last year, prompting Premier Ford to commend the city for its proactive stance on housing development. “Barrie is getting it done on housing, and we are proud to reward them for their success,” stated Premier Ford during the announcement, highlighting the city’s remarkable achievement.
The @cityofbarrie has knocked it out of the park by getting 1,700+ new homes built last year alone!
Today, I presented @BarrieMayor with $6.34 million from our Building Faster Fund to recognize their success.
Keep up the great work!https://t.co/8SXIPoiRHw pic.twitter.com/7kX0f6pLWf
— Doug Ford (@fordnation) March 15, 2024
The funding, allocated through the Building Faster Fund, is designed to incentivize municipalities to accelerate housing construction and meet provincial housing targets. This program, established in August 2023 with a budget of $1.2 billion, aims to provide financial support for municipalities that demonstrate significant progress in housing development.
Mayor Alex Nuttall expressed gratitude for the provincial recognition of Barrie’s housing efforts. “This funding will further propel our efforts in creating a variety of housing options to suit the needs of our growing city,” Mayor Nuttall remarked, emphasizing the importance of accommodating the diverse housing needs of the community.
The announcement underscores Ontario’s commitment to rewarding municipalities that meet or exceed their housing targets. With housing affordability remaining a critical issue for residents across the province, initiatives such as the Building Faster Fund play a crucial role in ensuring accessible homeownership opportunities for families.
As Ontario continues to grapple with the housing crisis, collaborative efforts between the provincial government and municipalities are crucial in addressing the growing demand for affordable housing. The funding allocated to Barrie serves as a testament to the government’s dedication to incentivizing and supporting housing development initiatives at the local level.
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