Kingston sees $3.2M from Ontario government home building fund

The City of Kingston will see an extra $3.2 million in provincial funding this year through a government home building incentive program.

Ontario’s Minister of Municipal Affairs Paul Calandra was in Kingston on Thursday to announce the funding, which has been promised to municipalities that meet their 2023 housing targets under the province’s Building Faster Fund.

Kingston broke ground on 1,465 new housing units last year, according to numbers from the province.

“I applaud the work being done by Kingston and all the other municipalities that have met or exceeded their housing targets and I’m proud to see these communities helping lead the province when it comes to building homes,” Calandra said in a statement.

Announced last August, the Building Faster Fund is a three-year, $1.2-billion pot of money the government says is designed to encourage municipalities to address the province’s housing supply crisis.

Money is doled out to municipalities that have reached at least 80 per cent of their provincially assigned housing target for the year with more funding given to municipalities that exceed their target, the government has said.

“As we continue to grow, investments like the one announced today will ensure we remain focused on housing that’s affordable and accessible,” said Kingston Mayor Bryan Paterson, in a provincial release Thursday.

“Programs like the Building Faster Fund play a crucial role, not only in constructing houses but also in developing welcoming communities.”

The province has said the additional funding can be used by municipal governments for housing or community-enabling infrastructure.