City exceeds 80% of provincial housing target, unlocking funding for homes and infrastructure
RICHMOND HILL, Ont. — The Ontario government has awarded the City of Richmond Hill more than $5.9 million through the latest round of the Building Faster Fund after the municipality surpassed 80 per cent of its provincially assigned housing target in 2025.
The funding, totalling $5,941,440, is part of Ontario’s efforts to accelerate housing construction and support infrastructure projects in fast-growing communities. Richmond Hill qualified for the funding after breaking ground on 2,228 new homes in 2025, representing 83 per cent of its annual housing target.
The province said the investment will help Richmond Hill continue expanding housing supply while supporting community infrastructure needed to accommodate growth. The funding also aligns with Ontario’s broader economic strategy of encouraging development, supporting construction activity, and maintaining employment across the housing sector.
“Congratulations to the City of Richmond Hill for your work to get shovels in the ground to build more homes,” said Rob Flack, Minister of Municipal Affairs and Housing. “As we look to the future, our government will continue delivering programs and legislative changes that enable partners like Richmond Hill to successfully grow. Together, we are building better lives and brighter communities for the people of Ontario.”
Building Faster Fund Rewards Municipal Performance
Launched in August 2023, the Building Faster Fund is a three-year program worth up to $1.2 billion. The initiative rewards municipalities that make meaningful progress toward provincial housing targets by providing financial support for infrastructure projects that facilitate residential development.
Municipalities become eligible for funding when they achieve at least 80 per cent of their designated housing goals. The program is designed to encourage local governments to increase housing construction while ensuring communities have the infrastructure required to support population growth.
Richmond Hill’s performance in 2025 placed it among the municipalities receiving support through the third round of funding.
Mayor David West welcomed the provincial investment and said the city remains focused on expanding housing options for residents.
“Richmond Hill is very grateful to the Ontario government for this funding,” said David West, Mayor of Richmond Hill. “It is a testament to the significant progress we made in 2025. We will never stop working hard to create more homes for our community, including affordable housing and long-term care housing that are desperately needed. As the Mayor and as a resident, I’m proud of everything we have done to tackle this challenge that we all face across the province.”
Province Advances Broader Housing Strategy
The funding announcement comes as Ontario continues introducing measures aimed at reducing barriers to residential construction.
The government recently enacted the Building Homes and Improving Transportation Infrastructure Act, 2026 and the HST Relief Implementation Act (Residential Property Rebates), 2026, both intended to streamline development processes and lower costs associated with new housing projects.
Ontario has also established the Development Charge Reduction Program as part of the province’s broader Canada-Ontario Partnership to Build, valued at up to $8.8 billion. The program will provide funding for housing-enabling infrastructure projects over the next decade, with priority given to municipalities that reduce and maintain lower development charges.
In addition, the province highlighted the temporary removal of the HST on new homes from April 1, 2026, to March 31, 2027. The measure is expected to reduce the cost of a newly built home by as much as $130,000 for eligible buyers.
According to the government, these initiatives are intended to improve housing affordability, encourage new residential construction, and support employment across Ontario’s building sector.
Housing Starts Continue to Rise Across Ontario
Recent provincial housing data points to continued momentum in residential construction activity.
From January to May 2026, Ontario recorded 26,084 housing starts, representing a 17.2 per cent increase compared with the same period in 2025. Rental housing construction showed particularly strong growth, with 13,599 rental starts during the first five months of the year, up 94.9 per cent year over year and marking a record level for that period.
To provide municipalities with greater flexibility, the province has also extended the deadline for spending Building Faster Fund allocations until 2028.
Richmond Hill is also benefiting from broader infrastructure investments in York Region. Ontario said it is investing more than $204 million through the Municipal Housing Infrastructure Program across the region, supporting infrastructure that will enable more than 60,000 new homes. That total includes more than $4 million earmarked for Richmond Hill.
Local Leaders Welcome Provincial Support
Provincial representatives said the latest funding recognizes Richmond Hill’s efforts to advance housing development while preparing for future growth.
“As part of our work to protect Ontario, we’re creating the conditions for a stronger housing sector that will help Ontario succeed for generations to come. Investments through the Building Faster Fund will help deliver the essential infrastructure and housing that communities need to grow, strengthen local economies, and keep people working,” said Laura Smith, Parliamentary Assistant to the Minister of Municipal Affairs and Housing.
“I am proud to see this investment of more than $5.9 million coming to our community. The City of Richmond Hill has demonstrated remarkable leadership in meeting provincial housing targets, and this funding through the Building Faster Fund recognizes those efforts. As our community continues to grow, we are supporting infrastructure and housing projects to ensure Richmond Hill remains a great place to live, work, and raise a family,” said Daisy Wai, MPP for Richmond Hill.