Housing financing: Ontario and Ottawa reach an agreement after months of tension | Toronto housing crisis

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Ontario and Ottawa agree on housing funding after months of tension. (Archive photo)

Photo: Radio-Canada / Patrick Morrell


Posted at 12:48 UTC

After months of discord with Ontario, Justin Trudeau’s government finally agrees to grant millions of dollars to the province to finance the construction of housing.

Earlier this month, Ottawa suspended $357 million in funding for Ontario because Doug Ford’s government failed to provide it with an affordable housing plan.

The Federal Minister of Housing, Sean Fraserthen specified in a letter to his Ontario counterpart, Paul Calandra, that Ottawa would pay this money directly affordable housing projects.

In a joint statement, ministers Fraser and Calandra indicated that they had established a new action plan for the use of the $357 million promised by Ottawa.

This new plan provides more robust data and guidance on which housing units have benefited from provincial investmentsnotes the press release.

Canada and Ontario recognize that it is imperative to work together to resolve the housing crisis, the press release reads.

Under the agreement, Ontario will have to submit a 2025-2028 action plan by December 31, 2024, in order to obtain the remainder of the federal funding.

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