Chatham-Kent (CK) has received another round of funding from the Ontario Building Faster Fund.
Ontario Minister of Municipal Affairs and Housing Rob Flack was in Chatham on Friday to announce $440,000 to help make homes more affordable.
Minister Flack promised another cheque next year and CK Mayor Darrin Canniff hopes it's a bigger one.
"It's based on the formula. Certainly, I would love to see more money, given that we have significantly exceeded the targets. But I get it, it was based on historic numbers," said Canniff.
Minister Flack said the province is consulting with stakeholders to improve the program as the Building Faster Fund is set to enter into another phase next year.
CK Director of Planning Services Ryan Jacques said this year's funding will go towards off-setting the $5.2 million capital costs of two affordable housing projects in Chatham. One is a row house with five multi-bedroom family units at 24 Redwood Crescent in Chatham, the other is six multi-bedroom family units at 179 Eugenie Street in Chatham.
Jacques noted the federal government has already provided more than $1.1 million to fund those projects, while the province has already funded them to the tune of $480,000 on top of the $440,000 announced on Friday.
Jacques noted CK smashed its 2024 housing goal by 338 per cent by building 310 houses. The provincial target was 92 houses.
Mayor Canniff said unlike other areas of the province, CK doesn't anticipate a shortage or slowdown of builders to keep the momentum going.
"York Developments coming in and announcing 774 units, probably the biggest investment in Chatham-Kent history. They recognize it's the place to be and they're willing to put a lot of money into building housing units," the mayor noted.
Home building in Ontario is slowing down significantly, according to Canadian Mortgage and Housing Corporation (CMHC) data, with a 25 per cent drop in housing starts during the first half of 2025 compared to the same period in 2024.
CMHC added the slowdown is expected to continue through 2027, due to higher interest rates and higher building costs.
The Building Faster Fund is a three-year, $1.2 billion fund geared to reward municipalities that deliver on housing targets.
The municipality received $400,000 last year that went towards the cost of the transitional cabins in Chatham.
The province has fallen behind on its housing target of 1.5 million homes by 2031.
CMHC data shows that homebuilding in Ontario plummeted in the first half of 2025, and construction was far below the yearly targets needed to reach the goal of 1.5 million new homes by 2031.
CMHC added that the province has failed to hit its monthly target since 2022, and for the entire year 2024, total housing starts were significantly lower than required.