The Ontario government has announced an investment of $3.75 million to upgrade critical infrastructure in Peterborough, paving the way for the construction of up to 4,956 new homes.
The funding, part of the $400-million Housing-Enabling Core Servicing Stream under the Municipal Housing Infrastructure Program, aims to improve municipal roads, bridges, and culverts to support housing growth across the province.
The City of Peterborough will use the funding to upgrade the Towerhill Road and Fairbairn Street area, unlocking housing opportunities and supporting economic development.
“This significant investment marks an important step forward in addressing the housing needs of our growing community,” said Dave Smith, Member of Provincial Parliament for Peterborough-Kawartha. “By supporting the creation of vital infrastructure, our government is not only allowing the City of Peterborough to welcome new homes but also fostering long-term, sustainable development.”
Peterborough Mayor Jeff Leal emphasized the importance of the funding for the city’s future growth. “This funding through the Housing-Enabling Core Services Fund will be used to support key road infrastructure improvements that will lead to more homes being built in Peterborough,” he said.
The announcement is part of the province’s broader commitment to tackling housing shortages and fostering economic growth. Ontario’s Minister of Infrastructure, Kinga Surma, highlighted the role of municipal infrastructure in supporting growing communities. “Families and residents need safe and reliable roads and bridges to access these homes and travel safely to and from their destinations,” she said.
The province is also allocating $175 million to launch the Health and Safety Water Stream under the same program. This initiative will focus on modernizing water, wastewater, stormwater, flood, and erosion infrastructure, further bolstering the resilience of Ontario communities.
