Ontario Construction News staff writer
Building infrastructure to meet the province’s plan to build 1.5 million homes by 2031 will cost the Region of Peel approximately $20.4 billion, according to a staff report presented to council.
The report also highlights the need for commitments from developers and outlines services and funding requirements needed from the province to ensure complete communities are built.
In partnership with the cities of Brampton and Mississauga and the town of Caledon, Peel Region will:
- Align growth to available infrastructure: focus growth in areas where there is existing and planned infrastructure capacity by 2031
- Update population growth allocations in Peel’s local municipalities: confirm the short-, medium- and long-term population and employment growth allocations across Peel to support the next phase of infrastructure master planning
- Develop new master servicing plans and review options for advancing capital projects: explore the potential to advance infrastructure improvements that could be completed quicker to enable additional housing development
To support these housing targets the region will need additional water, wastewater and transportation infrastructure above what has been already planned in Peel’s long term master servicing plans to 2031 that allocated $8.9 billion.
“With a clearer understanding of the potential costs of building more homes faster, the Region of Peel can continue working in partnership with local municipalities to develop and implement effective strategies,” said Regional Chair Nando Iannicca. “With additional commitments from the province, together we can make a positive impact on the significant need for housing in our community.”
Municipalities anticipate challenges with providing the necessary infrastructure and other services that come with the accelerated timing to build these new complete communities including significant funding shortfalls.
Peel is asking the development industry to sign pledges demonstrating their commitment to building units after receiving planning and development approvals and a commitment from the province for funding support.