The building industry welcomes City of Toronto development charge reduction program

The City of Toronto, along with provincial and federal governments, has announced a significant reduction in development charges, drawing praise from the Building Industry and Land Development Association and the Ontario Home Builders’ Association. This 40 to 60 percent cut aims to boost housing project feasibility, which could lead to a substantial increase in the housing supply. The move is crucial as it addresses the pressing housing shortage and aims to make new housing more affordable and attainable for many. This collaborative effort underscores the importance of streamlined development processes for urban growth and sustainability.