Richmond Hill breaks ground on 2,228 new homes, securing $5.9 million from Ontario's Building Faster Fund

Richmond Hill has been rewarded with $5,941,440 through the third round of Ontario's Building Faster Fund, which provides financing to municipalities that achieve at least 80 per cent of their provincially designated housing targets. In 2025, Richmond Hill broke ground on 2,228 new homes, achieving 83 per cent of its annual housing target.

Mayor David West said the city is grateful for the support and pledged continued work to create more homes, including affordable housing and long-term care housing. "We will never stop working hard to tackle this challenge that we all face across the province," he said.

The Building Faster Fund, announced in August 2023, is a three-year, up to $1.2 billion program that helps municipalities build more homes faster by providing funding for infrastructure needed to support new housing and growing communities. Ontario is also supporting housing growth through development charge reductions, HST removal on new homes from April 1, 2026 to March 31, 2027 (saving homebuyers up to $130,000), and streamlined development processes. From January to May 2026, Ontario saw 26,084 total housing starts, up 17.2 per cent compared to the same period in 2025, with rental starts at a record 13,599, up 94.9 per cent year-over-year.