Ontario Rewards Thunder Bay with $880,000 Through the Building Faster Fund
Second round of funding rewards municipalities for progress toward housing targets
The Voice of Canada
The Ontario government is awarding the City of Thunder Bay $880,000 through the second round of the Building Faster Fund, which provides funding to municipalities that achieve at least 80 per cent of their provincially designated housing targets. Thunder Bay broke ground on 262 new homes in 2024, achieving 143 per cent of its 2024 housing target.
This funding will help the City of Thunder Bay build more homes and community infrastructure while advancing the province’s plan to protect Ontario by investing in infrastructure to support economic growth and keep workers on the job.
“We’re working closely with Mayor Boshcoff and with local leadership in municipalities across Ontario to get more homes built faster,” said Premier Doug Ford. “Today’s investment is just the latest step we are taking to protect our workers and communities by supporting continued growth in Thunder Bay and across Ontario.”
Announced in August 2023, the Building Faster Fund is a three-year, $1.2 billion program that is designed to encourage municipalities to speed up municipal approval processes and get more homes built faster. The fund awards municipalities that make significant progress against their targets by providing funding for housing-enabling and community-enabling infrastructure. The province is also providing record funding to support housing-enabling infrastructure, including through the Housing-Enabling Water Systems Fund and the Municipal Housing Infrastructure Program.
“We’re proud to have met and exceeded our provincially assigned housing targets,” said Ken Boshcoff, Mayor of Thunder Bay. “We are grateful to receive this funding through the Building Faster Fund, helping us to speed up approvals and get more shovels in the ground. I wish to thank the province for this investment in Thunder Bay’s future and acknowledge the important work of the members of the Mayor’s Task Force on Housing and our team at Development Services.”
The Ontario government is also helping to speed up the construction of new homes and infrastructure, including by streamlining development processes and reducing costs in close partnership with municipalities, through the Protect Ontario by Building Faster and Smarter Act, 2025.
“I applaud Mayor Boshcoff and those mayors and councils across the province that are stepping up to get shovels in the ground faster,” said Rob Flack, Minister of Municipal Affairs and Housing. “Our government is making historic infrastructure investments to give municipalities the tools they need to build more homes and keep the dream of homeownership alive.”
Quick Facts
From January to June 2025, Ontario saw 9,125 rental starts, an increase of 26.5 per cent compared to the same period in 2024. After 2023, this is the second-highest level of rental starts on record for this time of the year.
To help make way for more housing opportunities and support growing communities, the government is also giving municipalities more time to spend funds awarded through the Building Faster Fund, extending the deadline to 2028.
Quotes
“I’m excited to see that Thunder Bay has exceeded its housing targets and continues to qualify for the Building Faster Fund. This investment will help grow our city by supporting critical infrastructure and new housing, which in turn strengthens our local economy and supports working families. I want to thank Mayor Boshcoff for his continued collaboration with the province and for using the tools available to advance meaningful development across Thunder Bay. I look forward to continuing our work together to deliver lasting results for our communities.”-Kevin Holland
Member of Provincial Parliament, Thunder Bay—Atikokan
