Committee approves budget with $23.3-million investment in affordable and supportive housing

The Planning and Housing Committee today approved its portion of Draft Budget 2026, which includes $91.8 million in net operating funding and $24.1 million in capital funding.

The City will invest the bulk of that capital, $23.3 million, to develop more affordable and supportive housing for low and moderate-income households.

In line with the 2025 Affordable Housing Capital Strategy and Update, which the Committee also approved today, the $23.3 million in capital funding will help support projects in the Affordable Housing Pipeline. The pipeline currently includes 1,565 units receiving funding support, with 903 units under construction, 470 nearing construction start, and 192 in pre-development.

Affordable housing has been a key priority for this 2023-2026 Term of Council and the City has ambitiously expanded both investments and outcomes. By the end of this term of Council, the City expects to have delivered approximately 850 new affordable housing units – more than double the number built in the previous term. The funding approved by Committee today will support the construction of approximately 436 affordable units in 2026.

The City remains committed to delivering affordable housing through strategic use of municipal lands, streamlined approvals and delegated authority. Since 2024, the City has committed approximately $230 million in funding across municipal, provincial and federal sources to support affordable and supportive housing projects. These investments are supporting nearly 1,400 non-profit and nearly 500 affordable private sector units.

Other capital investments approved today include $444,000 to support the development of secondary plans around transit hubs that will help guide intensification, infrastructure and housing priorities. An additional $420,000 will fund plans in approved urban expansion areas to direct greenfield growth and identify infrastructure needs. The budget also proposes a $50,000 increase to the Heritage Property Grant Program, which aims to help owners cover the costs of restoring the original heritage character of designated heritage buildings.

The approved budget includes several continuous improvement initiatives designed to deliver efficiencies and modernize services. For example, through the Housing Action Plan approved by Council in October, the City will coordinate actions to streamline the development review process for not-for-profits on municipal lands. Removing such barriers will simplify the development of affordable housing and allow other infrastructure projects to move forward more quickly.

Council will consider Draft Budget 2026 on Wednesday, December 10. Other items from today’s meeting will rise to Council on Wednesday, November 26.