.jpg)
2 hours ago
2
Article content
Another round of housing-related relief is rolling out from Ottawa and Queen’s Park, just days after the Federal government’s move to scrap the 13 per cent HST on new homes ahead of the provincial budget.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Now the two levels of government say they will jointly commit billions more towards infrastructure funding to help municipalities cut development charges and get more homes built.
Article content
Article content
Article content
Prime Minister Mark Carney and Premier Doug Ford said Monday they will each commit $4.4 billion over 10 years towards housing-related infrastructure as a part of a joint $8.8 billion plan intended to lower development costs and speed up construction.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
The funding, delivered through the Federal Government’s Build Communities Strong Fund, aims to cut development charges by 50 per cent over the next three years –– a move governments say will reduce upfront costs for builders.
Article content
Development charges, taxes and fees can account for 25 to 30 per cent of the final purchase price of a new home in some Greater Toronto Area communities, according to the Building Industry and Land Development Association (BILD).
Article content
The Toronto Regional Real Estate Board has said rising development costs are passed on to buyers and renters, contributing to higher prices and constraining supply.
Article content
Industry groups have flagged development charges as a key pressure point, particularly as municipalities try to balance housing supply with infrastructure needs.
Article content
More to come…
Article content
English (US)