December 15, 2025
RED FM News Desk
The Ontario government is providing the City of Guelph with $3,692,960 through the second round of the Building Faster Fund. This fund rewards those municipalities which meet at least 80% of their provincially assigned housing targets. According to a news release of Ontario government, in 2024, Guelph began construction on 1,279 new homes, surpassing 85% of its annual housing goal. The funding will support the development of additional housing and community infrastructure, aligning with the province’s broader plan to strengthen Ontario by investing in infrastructure, supporting economic growth, and keeping people employed.
The Building Faster Fund, announced in August 2023, is a $1.2 billion, three-year initiative aimed at encouraging municipalities to streamline approval processes and deliver housing more quickly. Municipalities that make strong progress toward their targets receive funding to support housing-related and community-supporting infrastructure.
Apart from Building Faster Fund, Ontario is investing more than $2 million in the City of Guelph through the Municipal Housing Infrastructure Program, which will help facilitate the construction of nearly 2,000 additional homes.
Guelph Mayor Cam Guthrie welcomed the funding, noting that meeting the city’s 2024 housing target made it eligible for provincial support. He said the funding will be instrumental in expanding a range of housing options and thanked the provincial government for partnering with the city to improve livability and address the housing crisis.
The province is also taking steps to accelerate housing and infrastructure development by simplifying development approvals and lowering costs in collaboration with municipalities through legislation and initiatives such as the Fighting Delays, Building Faster Act, 2025, the Protect Ontario by Building Faster and Smarter Act, 2025, and the 2025 Ontario Economic Outlook and Fiscal Review:A Plan to Protect Ontario.
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