Ontario has received royal assent for legislation to support the government’s More Homes for Everyone plan, which delivers both near-term solutions and long-term commitments to build more homes faster to put home ownership within reach for all Ontario families.
The More Homes for Everyone plan outlines the next suite of concrete actions the province is taking to address Ontario’s housing crisis, such as protecting homebuyers from unethical development practices and accelerating development timelines to get more homes built faster. The plan is built on recommendations from the Housing Affordability Task Force and the first-ever Ontario-Municipal Housing Summit, as well as input from municipalities and the public. It includes:
“With the passage of the More Homes for Everyone Act, our government is taking the next step in our long-term plan to deliver on the Housing Affordability Task Force’s report, and help more Ontarians realize the dream of home ownership,” said Steve Clark, Minister of Municipal Affairs and Housing. “But there is still more work to be done. As we continue to collaborate with our municipal and industry partners, our government commits to a housing supply action plan every year over four years to deliver gentle density and multi-generational homes in communities across our province.”
As part of the More Homes For Everyone plan, Ontario increased and expanded the Non-Resident Speculation Tax, is making it easier to build more community housing by making better use of provincially owned lands including providing surplus lands in Vaughan for non-profit housing, and is strengthening the community housing system for residents and workers by establishing a new regulatory framework under the Community Housing Renewal Strategy and also with historic investments through the nearly $1.2 billion Social Services Relief Fund and $464 million Homelessness Prevention Program.