Ontario invests $5M to boost Kitchener rental housing market

The Ontario government announced Friday it would give $5 million to the City of Kitchener to encourage more rental housing.

According to a press release, the city canuse the money "to provide development charge rebates" to developers who want to build "more high-rise, mid-rise and townhouse rental housing."

• Ontario's new standard rental lease will be easier for landlords and tenants
• Region allocates $2.4M for new affordable rental units

Twelve other Ontario municipalities will receive similarfunding over the next five years. The three cities slated to receive the most money are Toronto, Ottawa and Mississauga.

"Adequate and appropriate rentals have become increasingly hard to find and afford in a number of Ontario communities," said Peter Milczyn, Ontario's Minister of Housing, in the press release.

"This rebate program will stimulate the creation of new rental housing to help make it easier for families and individuals to find the housing they need."