TRREB Welcomes Ontario Government’s $1.5 Billion Funding for Significant Development Charges Reduction in the City of Toronto (opens original article in a new tab)

Ontario government provides $1.5 billion to Toronto to reduce development charges by 40-60%, aiming to improve housing affordability and construction.

• Ontario government announces $1.5 billion funding for Toronto to reduce development charges by 40-60%
• Development charges account for up to 20% of home purchase price and affect affordability
• TRREB supports the initiative as a way to improve housing affordability and supply
• Ministers and city officials collaborated on the funding initiative