ST. CATHARINES, ONT. — The Ontario government is providing nearly $6.8 million to the cities of St. Catharines, Niagara Falls and Welland through the second round of the Building Faster Fund, which provides funding to municipalities that achieve at least 80 per cent of their provincially designated housing targets.
St. Catharines, Niagara Falls and Welland broke ground on nearly 2,000 new homes in 2024, the province notes.
The funding is broken down as follows:
- Catharines — $2.5 million for achieving 85 per cent of its housing target, breaking ground on 782 new housing units, approaching their provincial target of 917.
- Niagara Falls — $2.8 million for achieving 116 per cent of its housing target, breaking ground on 774 new housing units, exceeding their provincial target of 667.
- Welland — $1.4 million for achieving 114 per cent of its housing target, breaking ground on 408 new housing units, exceeding their provincial target of 358.
Announced in August 2023, the Building Faster Fund is a three-year, $1.2 billion program that is designed to encourage municipalities to speed up municipal approval processes and get more homes built faster, the release adds.
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