Ontario New Democrats are promising to spur the construction of 1.5 million new homes over the next 10 years if elected.
NDP Leader Andrea Horwath says her housing plan, which would see a net cost of $3.7 billion over the first four years, aims to make it more affordable for families to have their own homes, not speculators wanting to make a fortune.
Horwath’s goal of 1.5 million homes is the same number recommended by a government-commissioned task force report earlier this year, and she says it would include a mix of starter homes, purpose-built rentals, and affordable housing units.
The NDP plan would end exclusionary zoning and update growth policies to increase the supply of affordable housing in pedestrian- and transit-friendly neighbourhoods.
They also promise to establish Housing Ontario, a body that would finance and build at least 250,000 affordable and non-market rental homes over 10 years, operated by public, non-profit, and co-op housing providers.
The New Democrats also say they would provide help for first-time home buyers, including giving people from households with incomes under $200,000 access to home equity loans of up to 10 per cent of the purchase price to help with their down payment.
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