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The Government of Ontario has introduced new housing legislation aimed at reducing bureaucratic barriers and accelerating the construction of homes across the province. This legislation aligns with Ontario's commitment to building 1.5 million homes by 2031. Minister Paul Calandra emphasizes the importance of cutting red tape to facilitate interactions between Ontario families, workers, businesses, and the government. The initiatives undertaken thus far, including the new legislation, are projected to save individuals and businesses significant time and financial resources annually.

Key provisions of the legislation include allocating over $1.8 billion for housing-enabled infrastructure projects and implementing measures to expedite home construction. These measures include empowering homebuilders to determine parking space requirements near transit, easing regulations on building garden, laneway, and basement suites, and implementing a "use it or lose it" policy to prompt builders into action upon receiving approvals. Additionally, the legislation aims to streamline approval processes for various types of housing, support innovative construction methods like mass timber, and limit third-party appeals to hasten development.

Real estate associations such as the Ontario Real Estate Association (OREA) and regional boards like the Ottawa Real Estate Board (OREB) have expressed support for the government's efforts to boost housing supply. They welcome measures such as eliminating parking minimums near transit, facilitating the construction of additional housing units, and reducing regulatory delays. However, they also emphasize the need for further action, particularly in addressing exclusionary zoning practices and ensuring standardized definitions for housing starts and completions to track progress effectively. Despite commendation for the steps taken, stakeholders urge the government to maintain momentum and implement bold measures to achieve the ambitious housing target set for 2031.

Read the full article on: REAL ESTATE MAGAZINE