On October 20th, 2024, the Ontario government’s Provincial Planning Statement, 2024 (PPS 2024) officially came into effect, with the promise of streamlining the province’s land use planning framework. Replacing both the Provincial Policy Statement, 2020, and A Places to Grow: Growth Plan for the Greater Golden Horseshow, 2019, is a crucial planning tool designed to simplify existing policies while introducing key changes aimed at supporting the province’s ambitious goal of building at least 1.5 million homes by 2031. This includes policies focused on facilitating the development of employment land and enabling municipalities to unlock additional land for development, among others.
In this episode, Alex Nisenker, VP of Private Capital Markets, sits down with CEO Sasha Cucuz to explore the implications of these policy changes on the development landscape. They delve into the critical question: Will these changes be enough to move the needle on Ontario’s current housing crisis? While also discussing how will these changes impact our firm and the broader industry’s ability to deliver more housing. Beyond the policies themselves, what challenges must be overcome to accelerate housing supply, and what role does the private sector play in driving this dynamic?