Federal Housing Minister Sean Fraser warned Premier Doug Ford that Ontario might lose $357 million in funding if the province fails to meet federal affordable housing targets.
The province is falling back to meet its own housing start goals, having started 109,011 homes in 2023, counting long-term care beds and basement units. Even though the number is close to its target of 110,000, is well behind the 150,000 annual average the province needs to successfully achieve their goal.
In a letter to Ontario Housing Minister Paul Calandra, Fraser said if Ontario didn’t manage to provide a revised plan demonstrating how it intends to meet its housing targets under the agreement with the feds, the province won’t receive $357 million intended for affordable housing from the federal government.