Vaughan reduces development charges

The Building Industry and Land Development Association (BILD) has commended Vaughan for reducing development charges (DCs) to address the housing crisis in the Greater Toronto Area (GTA). The policy, effective Nov. 19, lowers Vaughan’s DC rates—once the region’s highest—by 88% to 92% depending on housing type. This translates to significant savings, such as $44,273 for single-detached homes and $20,243 for small apartment units. The GTA’s development fees, averaging 25% of a new home’s cost, have been a barrier to housing affordability.

BILD president Dave Wilkes praised the move. “This will enhance the financial viability of future projects, unlocking potential investment and stimulating supply,” he said.

BILD urged other municipalities to adopt similar policies to boost housing supply and maintain the region’s economic stability.