Oakville, Ont. — The Town of Oakville has secured $13.2 million in provincial funding after exceeding its housing target under Ontario’s Building Faster Fund, the Ministry of Municipal Affairs and Housing announced Wednesday.
The award, part of the program’s second round of funding, recognizes municipalities that achieve at least 80 per cent of their provincially designated housing goals. Oakville surpassed expectations in 2024 by breaking ground on 3,679 new homes — 134 per cent of its assigned target.
The funding is intended to support housing-related infrastructure and help municipalities keep pace with Ontario’s rapid growth.
Province Highlights Housing Push
Rob Flack, Minister of Municipal Affairs and Housing, praised Oakville’s results and underscored the government’s focus on tackling the housing shortage through both incentives and infrastructure investment.
“I want to thank Mayor Burton and Oakville Council for stepping up and taking bold action to get shovels in the ground faster,” Flack said. “Our government is making historic infrastructure investments and using every tool in our toolbox to help municipalities like Oakville build more homes and keep the dream of homeownership alive for families across Ontario.”
The Building Faster Fund, launched in August 2023, is a three-year, $1.2-billion initiative aimed at rewarding municipalities that speed up approvals and deliver housing at scale. Funding is directed toward community-enabling and housing-enabling infrastructure, such as roads, water systems, and public facilities that support population growth.
Oakville’s Leadership
Mayor Rob Burton said the award affirms the municipality’s efforts to balance rapid development with livability.
“We appreciate Municipal Affairs and Housing Minister Rob Flack for recognizing Oakville’s results through the Building Faster Fund,” Burton said. “This funding supports infrastructure needed to keep delivering housing while upholding the livability our community expects.”
The province also pointed to complementary programs across Halton Region, including a $35-million investment through the Municipal Housing Infrastructure Program. That initiative is expected to enable the construction of more than 29,000 new homes, including $3.2 million directed to Oakville.
Broader Housing Strategy
The announcement comes as Ontario faces a record pace of housing starts. Between January and August 2025, the province recorded 13,910 rental starts, a 23 per cent increase over the same period in 2024. Officials said it is the highest level of rental activity ever recorded for that time frame.
The government has also adjusted the Building Faster Fund’s parameters, giving municipalities until 2028 to spend awarded funds — an extension intended to align with the timelines of large-scale projects.
Provincial leaders stressed that the funding is part of a broader housing strategy anchored in legislative reforms. The recently introduced Protect Ontario by Building Faster and Smarter Act, 2025 aims to streamline approvals and cut development costs in partnership with municipalities.
Local Support
Oakville’s members of provincial parliament applauded the recognition.
“I am delighted to extend my congratulations to the Town of Oakville on receiving this well-deserved support through the Building Faster Fund,” said Stephen Crawford, MPP for Oakville. “This funding is not just an investment in much-needed housing, it is an investment in the people who call this community home. With this support, Oakville can continue its important work to build a stronger, more vibrant community and keep the dream of homeownership alive.”
Effie Triantafilopoulos, MPP for Oakville North–Burlington, also emphasized the town’s leadership. “Congratulations to the Town of Oakville for providing leadership in advancing innovative solutions to address the housing needs in our fast-growing community. Through the Building Faster Fund, our government is supporting communities like Oakville that are taking bold steps to get homes built faster, cut red tape, and deliver the infrastructure needed.”
Looking Ahead
The Building Faster Fund remains a cornerstone of the province’s strategy to meet ambitious housing targets while investing in the infrastructure needed to support growth. For Oakville, the $13.2-million award represents both recognition of past progress and a catalyst for further development.
As the community continues to expand, municipal leaders say the challenge will be ensuring that new housing supply is matched with infrastructure that preserves quality of life. With provincial funding in hand and additional investments across Halton Region, Oakville is positioned to remain at the forefront of Ontario’s housing push.
