Guelph gets $3.6M in provincial funding to build more homes
AI Article Summary
The City of Guelph in Ontario is receiving $3.69 million from the provincial government through the Building Faster Fund, as the city has met at least 80% of its mandated housing targets. In 2024, Guelph began construction on 1,279 new homes, surpassing 85% of its housing target for the year. This funding is part of an incentive for municipalities to accelerate their housing development projects to meet provincial goals.
What This Means for Canadian Contractors
This project shows how successful municipal efforts can unlock additional funding, encouraging faster housing development. For Canadian builders, this means that municipalities with streamlined permit processes and construction efficiency can benefit from provincial incentives. This could lead to increased demand for labor and materials, impacting supply chain planning and potentially affecting project timelines.
