Canada’s Largest City Toronto To Receive C$471 Mn For Housing
Canada’s federal government will give more than C$471 million (S$469.9 million) to Toronto, the country’s largest city, to help it build more housing and alleviate a shelter crisis, Prime Minister Justin Trudeau said. Trudeau, whose popularity has slumped in recent months amid complaints about the affordability of housing, said the money would allow Toronto to fast-track nearly 12,000 new housing units over the next three years. “It’s a great city. If we want to keep it great, we have to make homes more affordable,” he told a televised news conference in Toronto. The money will come from a special C$4 billion fund, which pays cities that agree to loosen zoning rules that protect neighbourhoods dominated by single-family homes. As part of a deal with the federal government, Toronto will work to streamline zoning approvals, expand affordable rental programmes, cut red tape, and unlock non-market housing. The Liberal government has made a series of similar announcements across the country in recent weeks.
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