Vaughan receives nearly $700M in housing infrastructure funding as part of provincial-federal development charge reduction policy

Vaughan is receiving $697.2 million from federal and provincial governments through the Development Charge Reduction Program to support infrastructure for new housing. The city reduced development charges to qualify, aiming to cut homebuilding costs by up to $98,056 and eliminate the 13% HST on homes up to $1 million. This initiative could save buyers up to $230,000 and create over 120,000 new housing units. Funding will improve water systems and expand roads.