Ford awards Milton with $8.4 million for exceeding 2023 housing target

The Town of Milton has received funding from the provincial government worth $8.4 million for successfully reaching its housing target for 2023.

The money is coming from the Building Faster Fund, which is a three-year, $1.2 billion program announced in August 2023.

Premier Doug Ford visited the town on Friday along with Municipal Affairs and Housing Minister Paul Calandra to deliver the news.

“Milton is one of the fastest-growing communities in Canada and our government is proud to invest in its future,” Ford said.

“Today it is my privilege to present the town of Milton $8.4 million, these funds can be used for the town for infrastructure projects that lay the groundwork for more housing and community developments,” said Ford.

“The Building Faster Fund will help Milton support its continued growth, as will our government’s plan to build Highway 413 and extend all-day, two-way GO train service along the Milton line.”

The fund is designed to reward municipalities for progressing towards their housing targets provided by the provincial government.

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Municipalities that reach at least 80 per cent of their provincially assigned housing target for the year will receive funding, while those that exceed their target will get even more money.

Milton was able to exceed its housing target by breaking ground on a total of 1,952 new housing units last year.

Milton’s mayor Gordon Krantz said the funding is an excellent start and will go a long way to provide infrastructure needs, roads, and transit for the town.

“We are pleased to exceed our annual housing target, and grateful to receive funding as part of the Building Faster Fund that will contribute towards the required housing and community growth infrastructure,” Mayor Gordon Krantz said.

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“Milton is one of Ontario’s most rapidly expanding areas, and we remain dedicated to increasing the housing supply as a key component of building a complete community.”

Mayor Krantz also says the town is currently on pace to meet its housing goals for this year as well, as it continues to be one of the fastest-growing communities in the country. 

However, the mayor admits buying in Milton will not be cheap. The average house price in the town is currently almost $1.1 million.