The Ontario Government says its new More Homes, More Choice action plan will create a spike in construction activity in the province.
On May 2, Steve Clark, Ontario’s Minister of Municipal Affairs and Housing announced More Homes, More Choice: Ontario’s Housing Supply Action Plan.
More Home, More Choice is designed to assist Ontarians find affordable housing that fits their budget.
The plan introduces new measures, across multiple ministries that focus on speed, cost, mix, rent and innovation to improve housing supply and affordability.
The increase in construction activity that will result from the action plan will also spur new investment and create thousands of private sector construction jobs, according to the provincial government.
“Our plan will make it easier to build the right type of homes in the right places, giving Ontarians and their families more flexibility when looking for a home they can afford,” Clark said. “After years of neglect by the former government, there is now a housing crisis in Ontario and the dream of ownership is out of reach for too many.”
More Homes, More Choice, less red tape
Currently, it takes about 10 years to complete either a low-rise or high-rise development project in the GTA.
The new measures in More Homes, More Choice would streamline the complex development approval process to remove unnecessary duplication and barriers, making costs and timelines more predictable.
The plan would also streamline and simplify the process for creating new rental housing options.
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Adding 10,000 housing construction starts a year could grow the province’s Gross Domestic Product by 0.3 per cent and create about 15,000 new jobs over three years.
“Whether you are a first-time homebuyer, a family looking for a larger apartment to rent or a senior hoping to downsize, our action plan puts people first,” Clark said.
“Combined with our government’s investment in renewed community housing, our Housing Supply Action Plan is sending a clear message that no matter what your situation you can count on our government to always put people first.”
The Housing Supply Action Plan, according to Clark, will require a province-wide effort that includes municipalities, non-profits and private industry and will also be a comprehensive all-of-government initiative that will include legislative amendments to 13 government acts.