Premier Doug Ford yesterday announced that the City of Pickering will be receiving $5.2 million in funding for exceeding its 2023 housing target, through the Province of Ontario’s Building Faster Fund.
The fund incentivizes municipalities to tackle housing supply issues, by providing performance-based funding for housing and community infrastructure.
A statement said 2023 was a record-breaking year for the City of Pickering. Not only did it break ground on a total of 1,502 new housing units, surpassing its housing target by 58 per cent, it also issued 1,933 building permits, with an estimated construction value of $853 million. In addition, the city received 1,972 new development applications last year with an estimated construction value of $1.26 billion. This represents the highest number of both development applications received and building permits issued in a single calendar year for Pickering.
Pickering’s dynamic growth story unfolds with a diverse array of development forms and distinct neighbourhoods. The City Centre District and Kingston Road Corridor is experiencing densification and increased building heights, providing practical and appealing residential options for first-time home buyers and those looking to downsize. In contrast, greenfield development in the Seaton community, offers a range of low-rise housing options particularly attractive to young and growing families.
Of note, a significant number of ‘missing middle’ type of development projects are being built across Pickering, which play a crucial role in addressing the housing crisis by filling in the gap between traditional single-family homes and large-scale condo/apartment buildings. Additionally, with the Province prioritizing accessory dwelling units, many Pickering homeowners have already applied to incorporate this type of gentle density into their established neighbourhoods. Ultimately, new and existing residents have more housing choices, including attainable housing options, in Pickering versus many other GTA municipalities.
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