BRAMPTON, ON (February 23, 2024) – Today, at Brampton City Hall, Premier Doug Ford announced the Province will be investing $25.5 million in Brampton through the Building Faster Fund as the City is on track to meet 2023 housing targets set by the provincial government.
Funding from the Building Faster Fund can be directed toward housing-enabling infrastructure and other related costs that support the creation of complete communities including being used towards the City’s Housing Incentive Program, which supports affordable housing and purpose-built rental housing.
Eligible expenses are determined following consultations between the Province, the Association of Municipalities of Ontario, the City of Toronto and the Housing Supply Action Plan Implementation Team.
Municipalities reaching 80 per cent of their annual target each year are eligible for funding based on their share of the overall goal of 1.5 million homes.
The Province’s announcement can be found here.
As the fastest growing of Canada’s 25 largest cities, Brampton needs to ensure its infrastructure meets the demands of a rapidly growing population. Last year, between new housing starts and additional residential units, the City created 7,397 new spaces to call home in Brampton.
In March 2023, the City of Brampton launched its Municipal Housing Pledge outlining the City’s commitment to the Province’s goal of achieving 1.5 million new housing units by 2031, with Brampton's target set at approving 113,000 new residential units over 10 years.
Attainable housing is the cornerstone of socio-economic stability. Prioritizing more housing choices is a crucial step for sustainable growth and equitable development.
In 2023, Brampton realized $2.3 billion in construction value through building permits issued – of which $1.3 billion was for residential development. Brampton’s overall construction values increased by 17 per cent from 2022 and showed a 37.5 per cent increase from 2021.
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“I want to thank Premier Ford and the Province of Ontario for the funding received today, as part of the Building Faster Fund. This is a significant step toward improving Brampton’s housing supply crisis by providing more attainable housing options for residents, creating a future that is more stable and secure. Last year, the City made significant strides toward hitting our housing target and this year, we anticipate building activity will continue to be strong. As the fastest growing big city in the country, investing in housing isn’t just about building the structures, it is about building communities and ensuring residents always have somewhere to call home.”
- Patrick Brown, Mayor, City of Brampton
“As the Chair of Planning and Development for the City of Brampton, I am thrilled to share that Brampton is at the forefront of Peel Region's remarkable population growth, with 90% of the region's increase coming from our vibrant city. This growth is a testament to Brampton's allure as a destination where businesses are eager to invest and build homes. In response to our continued growth, our Council has been proactive and unwavering in its commitment to fostering a community where living, working, and flourishing is a reality for all. Under my stewardship in Planning and Development, we are not just meeting, but exceeding our provincial housing targets. This is a clear indication of our dedication to advancing residential projects throughout the City. Despite the nationwide housing challenges, Brampton stands out as a city that is effectively managing the housing demand, ensuring that our residents can proudly call Brampton their home for generations to come."
- Michael Palleschi, Regional Councillor, Wards 2 and 6; Chair, Planning and Development Committee, City of Brampton
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As one of the fastest-growing cities in Canada, Brampton is home to nearly 700,000 people and more than 90,000 businesses. People are at the heart of everything we do. We are energized by our diverse communities, we attract investment, and we are embarking on a journey to lead technological and environmental innovation. We partner for progress to build a healthy city that is safe, sustainable, and successful. Connect with us on
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