Ontario Construction News staff writer
Premier Doug Ford was in Brampton last week to announce $25.5 million to stimulate new housing construction.
“This is a significant step toward improving Brampton’s housing supply crisis by providing more attainable housing options for residents, creating a future that is more stable and secure,” said Brampton Mayor Patrick Brown. “Last year, the city made significant strides toward hitting our housing target and this year, we anticipate building activity will continue to be strong.
“As the fastest growing big city in the country, investing in housing isn’t just about building the structures, it is about building communities and ensuring residents always have somewhere to call home.”
In March 2023 council introduced its municipal housing pledge, outlining a commitment to the goal of achieving 1.5 million new housing units by 2031. Brampton’s specific target is set at approving 113,000 new residential units over the next decade. Recognizing the significance of attainable housing in fostering socio-economic stability, the city emphasizes the crucial role of prioritizing housing choices for sustainable growth and equitable development.
The local construction sector recorded an increase last year, with $2.3 billion in construction value through issued building permits and $1.3 billion dedicated to residential development. This marked a 17 percent rise in the city’s overall construction values from the previous year and a substantial 37.5 percent increase from 2021.
The Building Faster Fund is designed awards financial support for housing-enabling infrastructure and related costs, contributing to the development of complete communities.
Funds can be used for Brampton’s Housing Incentive Program, which advocates for affordable housing and purpose-built rental units.
Brampton is faced with the need to align its infrastructure with the demands of its rapidly expanding population. In the previous year, the city delivered 7,397 new residential spaces through a combination of new housing starts and additional units.
For more information on Brampton’s housing initiatives, visit www.brampton.ca/housing.