City of Niagara Falls Exceeds Provincial Housing Target, Receives $2.8 Million Through Ontario’s Building Faster Fund

NIAGARA FALLS, ON - To support the Province of Ontario’s goal of building more homes, 50 of Ontario’s largest and fastest-growing municipalities were assigned housing targets to be achieved by 2051. To incentivize housing construction, the Province launched the Building Faster Fund, a three-year, $1.2-billion program that rewards municipalities achieving at least 80% of their annual housing target, with additional funding available for those that exceed it.

The City of Niagara Falls led the Region in achieving its 2024 provincial housing target, achieving 116% of its assigned target. Welland followed closely, achieving 113.97% of its target, and St. Catharines achieved 85.28%. The City saw the construction of 774 new housing units, surpassing the provincial target of 667 units.

New housing construction across the city in 2024 included:

• 55 single-detached homes
• 8 semi-detached units
• 112 townhouse units
• 50 apartment units
• 111 additional dwelling units
• 288 long-term care beds
• 150 congregate retirement home suites

As a result of exceeding its 2024 housing target, the City received $2.8 million in Building Faster Fund incentive funding, in addition to the $1.7 million previously received for meeting 2023 housing targets.

Funding received through the Building Faster Fund must be used for capital and infrastructure projects that support the creation of more affordable and attainable housing. Eligible projects include infrastructure improvements and strategic public/private partnerships, such as 4500 Park Street, which will deliver 362 new homes, including approximately 76 units designated as affordable and attainable.  

“Housing delivery at this scale requires both strong policy and decisive action,” said Kira Dolch, General Manager of Planning, Building & Development. “Exceeding our provincial target reflects the City’s commitment to streamlining approvals, supporting innovative development, and working with partners to deliver housing that is affordable, attainable, and responsive to community needs.”

Housing development in Niagara Falls continues to span the full housing spectrum, offering a diverse mix of housing types, densities, and price points. This includes affordable housing, rental and ownership options, and housing suited to residents at various life stages. This balanced approach is critical to ensuring residents have access to safe, stable, and appropriate housing that meets both physical and financial needs.

The City remains committed to removing barriers to housing development by reducing red tape and accelerating approvals. Ongoing initiatives include AI-supported planning processes, the Additional Dwelling Unit Program, the Community Improvement Plan (CIP) Incentive Program, and the upcoming Affordable Housing Community Improvement Plan, all designed to encourage timely and diverse housing construction across Niagara Falls.

For more information, please contact:
Signe Hansen                 
Director of Planning    
City of Niagara Falls
shansen@niagarafalls.ca