BILL 185 | Cutting Red Tape to Build More Homes Act, 2024

Transforming Ontario's Housing Landscape: Unveiling Bill 185

In the fast-paced world of real estate, every groundbreaking initiative holds the promise of reshaping the market as we know it. Enter Bill 185—the Cutting Red Tape to Build More Homes Act, 2024. This legislation marks a pivotal moment in Ontario's quest to meet its housing supply targets, and it's packed with transformative policy changes that are set to ignite innovation and accelerate progress.

Building Homes Faster at a Lower Cost

Speed and affordability are the cornerstones of Ontario's housing vision, and Bill 185 is leading the charge with two game-changing proposals:

Parking Minimums Reimagined: Say goodbye to outdated regulations. Bill 185 proposes the elimination of parking minimums near major transit stations. By freeing up space and reducing costs associated with parking infrastructure, this initiative paves the way for more affordable housing options and unlocks the full potential of transit-oriented development.

Rising to New Heights: The skyline of Ontario is about to get a makeover with proposed amendments to the Building Code. Mass timber buildings plan for an amendment to the Ontario Building Code from 12 Stories to 18 Stories, a bold step towards sustainable and cost-effective construction practices.

Housing Enabling Infrastructure

But wait, there's more! Bill 185 isn't just about building homes—it's about building communities. With a "use it or lose it" approach to approvals, stalled housing developments will become a thing of the past. Municipalities will have the tools they need to fast-track housing-enabling infrastructure, thanks to new funding initiatives like the $1 billion Municipal Housing Infrastructure Program and the $825 million Housing Enabling Water Systems Fund.

Building More Types of Homes

Plans from student housing to modular homes, this legislation is breaking down barriers and opening doors to new possibilities. By exempting publicly-assisted universities from planning regulations and streamlining approvals for modular housing designs, Ontario is paving the way for a more inclusive and innovative housing market.

With housing being such a concern in this Country, this is definitely a step in the right direction. 

The only challenge for Torontonians is the massive spike in building construction that will occur in the next handful of months/years & how it may affect their daily lives.