Ontario NDP promise to spur construction of 1.5 million new homes in 10 years

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Ontario NDP promise to spur construction of 1.5 million new homes in 10 years
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Ontario NDP Leader Andrea Horwath says her housing plan aims to make it more affordable for families to have their own home, not speculators wanting to make a fortune

NDP Leader Andrea Horwath says her housing plan, which would see a net cost of $3.7 billion over the first four years, aims to make it more affordable for families to have their own home, not speculators wanting to make a fortune.

Horwath’s goal of 1.5 million homes is the same number recommended by a government-commissioned task force report earlier this year, and she says it would include a mix of starter homes, purpose-built rentals and affordable housing units. The NDP plan would end exclusionary zoning and update growth policies to increase the supply of affordable housing in pedestrian- and transit-friendly neighbourhoods.

They also promise to establish Housing Ontario, a body that would finance and build at least 250,000 affordable and non-market rental homes over 10 years, operated by public, non-profit and co-op housing providers. The New Democrats also say they would provide help for first-time home buyers, including giving people from households with incomes under $200,000 access to home equity loans of up to 10 per cent of the purchase price to help with their down payment.

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