Building more homes closer to transit is good for the environment and families looking for an affordable place to live.
Today, the Ontario Government announced an important step in the planning and delivery of transit infrastructure projects that will help bring the Canadian dream of home ownership within reach for young families, millennials, and new Canadians.
OREA would like to congratulate Minister of Transportation Caroline Mulroney, Associate Minister Kinga Surma and the Ford Government on today’s introduction of the Building Transit Faster Act which, if passed, will help build major transit projects across Ontario better and faster, leading to efficiency and savings.
Particularly, Ontario’s REALTORS® are pleased to see this legislation moving forward with a Transit-Oriented Communities Development Program, which will help lead to the development of thousands of new homes. According to research from OREA in partnership with Ryerson University, over 30 per cent of the space surrounding Ontario’s major transit hubs are predominately single-family homes with the capacity for up to 4 million new housing units, which could support the expected population growth of the Province for the next 24 years.
By getting more transit projects built faster, the Building Transit Faster Act will help hard working Ontarians save two precious commodities - time and money - and improve their quality of life.
I want to thank Minister Mulroney and Associate Minister Surma for their leadership in bringing this act forward and building the transit communities of the future.
- Karen Cox, OREA President