Ontario invests $1.5B to cut Toronto development charges
Province, feds, and city partner on measure to lower costs for new home construction across the municipality.
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Ontario, the federal government, and the City of Toronto are investing $1.5 billion to lower development charges on new homes across Toronto.
Premier Doug Ford announced the initiative on Tuesday, framing it as a way to ease housing affordability pressures in the city. The investment targets development charges—fees developers pay to offset infrastructure costs for new construction—which have been identified as a significant barrier to home building.
The partnership marks a coordinated effort across three levels of government to address Toronto's housing shortage. Ford said the move will help unlock new residential supply by reducing a major cost component for developers bringing projects to market.