Monday, the More Homes Built Faster Act was given Royal Assent, supporting the government’s efforts to tackle the housing supply crisis and get 1.5 million homes built over the next 10 years.
More Homes Built Faster removes unnecessary costs and cuts through red tape and other bottlenecks that stand in the way of new homes being built, announced the Province in a media release.
“More Homes Built Faster helps fulfill our government’s promise to help more Ontarians find a home that meets their needs and budget,” said Steve Clark, Minister of Municipal Affairs and Housing. “I am proud of the action this plan takes to increase the supply of housing of all types and restore the dream of homeownership for a generation of Ontarians.”
Minister of Natural Resources and Forestry and Parry Sound-Muskoka MPP Graydon Smith said “too many people are struggling with the rising cost of living and with finding housing that meets their family’s needs. We need more housing in Parry Sound-Muskoka, and we need it now.”
Smith said the More Homes Built Faster Act takes action to address the housing crisis with a plan to build 1.5 million homes over the next 10 years, nearly 10,000 of which are earmarked for the Parry Sound-Muskoka area.
“Bill 23 will help our communities grow with a mix of ownership and rental housing types that Parry Sound-Muskoka desperately needs—from single family homes to townhomes and mid-rise apartments.
“These proposals will also restore, enhance, and create important natural features like wetlands and our government is seeking feedback on how Ontario manages natural heritage, while supporting growth and development,” he stated via email correspondence with Huntsville Doppler.
“Our plan streamlines municipal planning responsibilities, eliminates unnecessary approvals and inhibiting rules, as well as freezes, reduces and slows the future growth of municipal development-related fees that are driving up the cost of housing. We are also asking municipalities to either spend or allocate at least 60 per cent of their reserve balances each year, to ensure the money is being used for its intended purpose.
“Parry Sound-Muskokans expect us to deliver on our pledge to get more housing built. With new councils and mayors taking office, there’s no better time for us to work together to deliver on this shared priority,” he stated.
Key actions in the plan include:
- Freezing and reducing government fees to support the construction of new homes and reduce the costs of housing, particularly affordable and not-for-profit housing, inclusionary zoning units and purpose-built rentals.
- Creating a new attainable housing program to drive the development of housing across all regions of Ontario.
- Increased the Non-Resident Speculation Tax rate to 25 per cent – the highest level in Canada – effective October 25, 2022, to deter non-resident investors from speculating on the province’s housing market.
- Protecting new home buyers by increasing consumer protection measures and consulting on ways to help more renters become homeowners.
The plan also supports the development of “gentle density,” which will create more rental housing while minimizing the impact on existing neighbourhoods. These changes will give most urban residential property owners the right to build up to three units on their land – including a basement apartment or a laneway home – without lengthy planning approvals or development charges.
“Too many Ontario families are chasing too few homes that meet their needs. The bold changes passed today are laying the foundation for those currently trying to find a home that is right for them, and for generations to come,” said Michael Parsa, Associate Minister of Housing.
- Ontario is expected to grow by more than two million people by 2031, with approximately 1.5 million of those new residents expected to settle in the Greater Golden Horseshoe Region.
- Ontario’s first housing plan, More Homes, More Choice was released in 2019. It was followed by More Homes for Everyone in spring 2022. Ontario is seeing strong progress resulting from these plans, with annual housing starts well above average for the past 30 years.
- In fall 2022, the government passed the Strong Mayors, Building Homes Act and introduced the Better Municipal Governance Act which gives the mayors of Toronto and Ottawa more powers to work effectively with the province to move forward on shared provincial-municipal priorities, including building 1.5 million new homes over the next 10 years.
- Ontario has asked the 29 of the province’s largest and fastest-growing municipalities to pledge to address the housing gap over the next 10 years. These pledges are in addition to existing, longer-term targets in municipal land use plans and will help kick start development by highlighting the need for municipal infrastructure, like roads and sewers.
- The government strengthened the More Homes Built Faster Act and listened to feedback to allow municipalities to address green standards.
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