OAKVILLE, ONT. — The Ontario government is awarding the Town of Oakville with $13.2 million and Milton with $8.4 million through the second round of the Building Faster Fund, which provides money to municipalities that achieve at least 80 per cent of their provincially designated housing targets.
Oakville broke ground on 3,679 new homes in 2024, which works out to 134 per cent of its 2024 housing target, explains a release.
Milton broke ground on 2,260 new homes in 2024, which works out to nearly 130 per cent of its 2024 housing target. The funding will both communities build more homes and community infrastructure.
Announced in August 2023, the Building Faster Fund is a three-year, $1.2 billion program that is designed to encourage municipalities to speed up approval processes and get more homes built faster.
The program rewards municipalities that make significant progress against their targets by providing funding for housing-enabling and community-enabling infrastructure.
