Canada, Ontario, Toronto Announce $975 Million Housing Investment

The Governments of Canada, Ontario, and the City of Toronto have announced a $975 million investment to accelerate the revitalization of Toronto's waterfront, aimed at creating over 14,000 new homes, including affordable rental options. This initiative is projected to generate 100,000 skilled trades jobs and contribute $13.2 billion to the local economy. The project, which includes work on Biidaasige Park, is set to begin in 2026 with the goal of first occupancy by 2031. Jack Winberg, board chair of Waterfront Toronto, emphasized the importance of collaborative government efforts in enhancing urban living and attracting investment. This announcement builds on previous investments, including the $1.4 billion Port Lands Flood Protection Project, marking the next phase of the waterfront revitalization.