Barrie city council has approved a 50 per cent reduction in residential development charges.
The move is intended to encourage new housing construction and improve affordability across the city.
Council approved the change Sept. 16, with the reduced rates taking effect Sept. 17.
The lower charges will also apply retroactively to building permits issued on or after March 30.
According to city officials, reducing development costs is intended to encourage more residential construction, increase the housing supply and create more options for current and future residents.
Mayor Alex Nuttall told Compass News the move gives more Barrie families a chance at home ownership.
“By cutting residential development charges by 50 per cent, we are taking real action to increase the supply of housing and give Barrie families more opportunities to own a home,” he said.
“When we lower the cost of building, we also create more opportunity for the skilled tradespeople who are working to build those homes. This is how we grow our housing supply while strengthening the local economy and making sure Barrie families can continue to build their future right here.”
The change comes as Barrie continues to plan for significant population growth and increased demand for housing.
Barrie is projected to have a population of 298,000 by 2051, with several areas around the city planned for intensification.
The reduction is part of the city’s broader efforts to support housing development and increase the supply of homes in the community.
