The federal government collaborates with Toronto to fast-track nearly 12k new housing units, aiming for over 53k homes in a decade. The Housing Acceleratir Fund allocates approximately $471M to eliminate barriers and promote diverse housing options.
Local governments are urged to submit bold plans to accelerate the construction of 380K new homes nationwide over the next decade. Toronto pledges to streamline zoning approvals, expand affordable rental programs, combat renovations, and enhance non-market housing.
The agreement aligns with Toronto's goal of building 65K rent-controlled homes and 285K homes by 2031 amid anticipated population growth.