The province of Ontario and the federal government announced on October 16 that they would provide up to $48.3 million in support for housing infrastructure in Guelph. In return, the City of Guelph agreed to reduce development charges on all residential housing by 301 TP3T from March 30, 2026, to March 31, 2029.
- With the reduction in development charges, construction costs per new home are expected to drop by up to $21,623.
- Combined with the HST reduction for eligible new homes (April 1, 2026–March 31, 2027, up to $130,000), qualified buyers can save up to $151,623.
- The funds will be used to expand infrastructure such as water and sewage systems, and the city of Guelph estimates that this measure will enable the supply of up to 27,675 new homes. However, this is the potential supply volume, not the confirmed number of construction starts.
- Support will be finally confirmed once procedures such as agreements between the federal and state governments and on-site inspections are completed.
If you are a family considering purchasing a new home in the Guelph area, please check with the developer and an attorney in advance regarding the timing of the purchase and eligibility for HST reductions.
Source: WireService.ca
https://www.wireservice.ca/ontario-and-canada-announce-up-to-48-3-million-for-guelph-housing-infrastructure/ |
