Government Helps First Time Home Buyers
Government gets serious about helping first-time home buyers
The province of Ontario is moving ahead with plans to address affordability for prospective new home owners in the GTA with the partnership between the Ontario Government and developers The Daniels Corporation and Diamond Corp.
The partnership recently broke ground on lands previously owned by the City of Toronto in the GTA with the aim of increasing affordable housing units for buyers while also making it lucrative for developers. According to Mayor John Tory and Minister of Housing Peter Milczyn, the aim is to develop three new areas in the GTA to make about 2000 new units available for affordable housing, along with the necessary supportive policy guidelines for first time buyers earning less than $90,500 per annum.
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