City rewarded for exceeding 2025 housing target
The City of North Bay is receiving $336,000 through the third and final round of the Building Faster Fund from the province.
The money is provided to municipalities that achieve at least 80 per cent of their provincially designated housing targets.
Officials say North Bay broke ground on 113 new homes last year, exceeding its annual target by 13 per cent.
“There’s a growing need for more homes across our province, and we applaud the work of partners like Mayor Chirico and his council who are working alongside us to get shovels in the ground,” says Rob Flack, Minister of Municipal Affairs and Housing. “Although this is the third and final year of the program, we will continue supporting municipalities with funding for housing-enabling infrastructure through measures like the Development Charge Reduction Program.”
North Bay received $400,000 in both the first and second rounds of the Building Faster Fund.
[RELATED] City exceeding expectations with housing construction target
[RELATED] Province awards North Bay with $400,000 for exceeding housing targets
The funding helps the City of North Bay build more homes and community infrastructure while advancing the province’s plan to protect Ontario by investing in projects that support economic growth and keep workers on the job.
Vic Fedeli, MPP for Nipissing says the city is taking action to build homes so families can achieve their dream of homeownership.
“The Ontario government’s $336,000 investment through the Building Faster Fund continues to reduce barriers to market access and deliver critical infrastructure faster and more affordably,” he says. “We would like to thank the city for their impressive housing starts and for ensuring that our residents have an affordable place to call home.”
Mayor Peter Chirico says the provincial investment will help the city continue to create the conditions needed to get more homes built.
“From additional residential units and new single-family homes to apartment developments and affordable housing projects for seniors, we’re working to support a range of housing choices,” he says.
Richard Coffinhttps://www.mynorthbaynow.com/Richard Coffin has been a reporter and news anchor on the radio in North Bay for over 25 years. From premiers to people in the neighbourhood, he enjoys connecting with newsmakers and writing stories that matter to area listeners on a variety of topics including healthcare, education, politics, sports and more.
