Ontario awards Richmond Hill housing fund payment

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Richmond Hill housing fund award

Highlights

Ontario awarded Richmond Hill C$5,941,440 through the Building Faster Fund after the city broke ground on 2,228 homes in 2025, reaching 83 per cent of its housing target.
The Building Faster Fund, announced August 2023 and valued at up to C$1.2 billion, incentivizes municipalities to accelerate residential construction and infrastructure growth.
Ontario's broader housing strategy, including the Canada-Ontario Partnership to Build (up to C$8.8 billion), HST relief, and development charge reductions, targets up to C$130,000 savings per home for buyers from April 2026–March 2027.

Funding tied to 2025 housing progress

As reported by Ontario Newsroom, the Ontario government is awarding the City of Richmond Hill C$5,941,440 through the third round of the Building Faster Fund, a program that pays municipalities that reach at least 80 per cent of provincially assigned housing targets.

The province says Richmond Hill broke ground on 2,228 new homes in 2025, allowing it to exceed its target threshold at 83 per cent. Ontario says the money is intended to help the city support additional homebuilding and related community infrastructure.

Municipal Affairs and Housing Minister Rob Flack says the government will continue to roll out programs and legislative changes aimed at helping municipalities expand housing supply. Richmond Hill Mayor David West says the funding reflects the city's 2025 progress and will support work on more homes, including affordable housing and long-term care housing.

Broader housing push across Ontario

Ontario says the Building Faster Fund, announced in August 2023, is a three-year program worth up to C$1.2 billion designed to reward municipalities that make meaningful progress toward their housing goals. The fund is part of the province's wider strategy to accelerate residential construction and support infrastructure for growing communities.

The government also says it is trying to speed up new housing and infrastructure through measures including the Building Homes and Improving Transportation Infrastructure Act, 2026, and the HST Relief Implementation Act (Residential Property Rebates), 2026. Under the broader Canada-Ontario Partnership to Build, valued at up to C$8.8 billion, Ontario has also introduced a Development Charge Reduction Program and says HST relief on new homes between April 1, 2026, and March 31, 2027 could cut purchase costs by as much as C$130,000 for buyers.

Our earlier coverage of Britain’s debate over council-led social housing outlined Andy Burnham’s proposal to redirect the government’s £39 billion housing programme toward local-authority development. The piece highlighted capacity and cost constraints, noting that shifting more funding toward social rent could raise subsidies and potentially reduce total homes delivered unless budgets increase. It also framed the discussion around long-term public spending trade-offs, including pressure on future fiscal plans and housing benefit costs.

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