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GUELPH — The Ontario government is awarding the City of Guelph with $3.69 million through the second round of the Building Faster Fund because the city has achieved at least 80 per cent of its provincially mandated housing targets.

According to a release, Guelph broke ground on 1,279 new homes in 2024, achieving more than 85 per cent of its 2024 housing target.

In addition, the city is also getting more than $2 million through the Municipal Housing Infrastructure Program that will enable the construction of nearly 2,000 new homes.

, the Building Faster Fund is a three-year, $1.2 billion program that is designed to encourage municipalities to speed up approval processes and get more homes built faster.