Toronto on pace to miss provincial housing target by 40%, new figures show
AI-generated image · Bay Street Wire
Mid-year permit data puts the city well behind the pace needed to hit its provincially assigned goal, even as council touts a faster approvals process.
New mid-year permitting data shows Toronto is on track to fall roughly 40% short of the housing target the province assigned as part of its funding-linked pledge program.
City planning staff argue the faster approvals timeline implemented last year hasn't had time to show up in the numbers yet, and point to financing conditions as the bigger constraint on builders.
The shortfall could affect the city's eligibility for a portion of provincial infrastructure funding tied to the pledge.