Ontario Awards North Bay $336,000 Through the Building Faster Fund
June 26, 2026Funding rewards municipalities for progress towards housing starts
NORTH BAY – Vic Fedeli, MPP for Nipissing, announced that the Ontario government is rewarding the City of North Bay with $336,000 through the third round of the Building Faster Fund, which provides funding to municipalities that achieve at least 80 per cent of their provincially designated housing targets. In 2025, North Bay broke ground on 113 new homes, exceeding its annual target by 13 per cent.
“The City of North Bay is once again taking action to build homes so families can achieve their dream of homeownership,” said Vic Fedeli, MPP for Nipissing. “The Ontario government’s $336,000 investment through the Building Faster Fund continues to reduce barriers to market access and deliver critical infrastructure faster and more affordably. We would like to thank the city for their impressive housing starts and for ensuring that our residents have an affordable place to call home.”
“From additional residential units and new single-family homes to apartment developments and affordable housing projects for seniors, we’re working to support a range of housing choices,” said Peter Chirico, Mayor of North Bay. “We’re grateful to the Province of Ontario for recognizing these efforts through the Building Faster Fund. This investment will help us continue creating the conditions needed to get more homes built.”
The funding will help the City of North Bay build more homes and community infrastructure while advancing the province’s plan to protect Ontario by investing in projects that support economic growth and keep workers on the job.
Announced in August 2023, the Building Faster Fund is a three-year, up to $1.2 billion program that helps municipalities build more homes faster. The fund rewards municipalities that make significant progress toward their housing targets by providing funding for the infrastructure needed to support new housing and growing communities.
The Ontario government is also helping to speed up the construction of new homes and infrastructure by streamlining development processes and reducing unnecessary costs, most recently through the Building Homes and Improving Transportation Infrastructure Act, 2026 and the HST Relief Implementation Act (Residential Property Rebates), 2026.
As part of the up to $8.8 billion Canada-Ontario Partnership to Build, Ontario has introduced the Development Charge Reduction Program, which provides funding for housing-enabling infrastructure projects over 10 years. Funding is being prioritized for municipalities that reduce and maintain reductions on development charges. The agreement also supports the removal of the HST on new homes from April 1, 2026, to March 31, 2027, which will save homebuyers up to $130,000 off the cost of a new home. Collectively, these measures help to enhance affordability, support builders as they get shovels in the ground on new homes and keep workers on the job.
Quick Facts
- giving municipalities more time to spend funds rewarded through the Building Faster Fund, extending the deadline to 2028.
- through the Municipal Housing Infrastructure Program. This includes over $13 million for the City of North Bay.
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