Toronto housing plan needs more fed, provincial funding

Toronto is making progress on its housing targets but may struggle to meet future goals without significant government support. An annual report revealed the city exceeded its 2023 housing target by 51%, yet funding gaps could hinder future efforts. The city needs $500 to $800 million annually in grants and $6.5 to $8 billion in low-cost financing. While the federal and provincial governments have invested hundreds of millions, more funding is essential to address the housing affordability crisis and expedite housing projects. Delays in housing completions could further impact affordability.