After HST Break, governments turn to building costs with $8.8 billion plan

Home builders have flagged development charges as a key pressure point, particularly as municipalities try to balance housing supply with infrastructure needs. Photo by Derek Baldwin/PostmediaArticle contentAnother round of housing-related relief is rolling out from Ottawa and Queen’s Park, just days after the Federal government’s move to scrap the 13 per cent HST on new homes ahead of the provincial budget.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentNow the two levels of government say they will jointly commit billions more towards infrastructure funding to help municipalities cut development charges and get more homes built.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.We apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Play VideoArticle contentArticle contentPrime Minister Mark Carney and Premier Doug Ford said Monday they will each commit $4.4 billion over 10 years towards housing-related infrastructure as a part of a joint $8.8 billion plan intended to lower development costs and speed up construction.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentThe funding, delivered through the Federal Government’s Build Communities Strong Fund, aims to cut development charges by 50 per cent over the next three years –– a move governments say will reduce upfront costs for builders.Article contentDevelopment charges, taxes and fees can account for 25 to 30 per cent of the final purchase price of a new home in some Greater Toronto Area communities, according to the Building Industry and Land Development Association (BILD).Article contentThe Toronto Regional Real Estate Board has said rising development costs are passed on to buyers and renters, contributing to higher prices and constraining supply.Article contentIndustry groups have flagged development charges as a key pressure point, particularly as municipalities try to balance housing supply with infrastructure needs.Article contentMore to come…Article contentTrending Posthaste: Gold's fall from grace could be worse than markets expect News Air Canada CEO to retire following English-only video controversy Airlines Subscriber only. Chinese are burying their dead in empty apartments rather than pay skyrocketing cemetery costs Subscriber only Financial Times S&P 500 correction nears end stage, say Morgan Stanley strategists PMN Business Canada's Far North poised for economic turnaround, premier says Mining Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Posthaste: Gold's fall from grace could be worse than markets expect News Air Canada CEO to retire following English-only video controversy Airlines Subscriber only. Chinese are burying their dead in empty apartments rather than pay skyrocketing cemetery costs Subscriber only Financial Times S&P 500 correction nears end stage, say Morgan Stanley strategists PMN Business Canada's Far North poised for economic turnaround, premier says Mining