News release: May 11, 2023
Regional Council faced with stark reality of Peel's affordable housing crisis
Staff report reveals just 19% of Peel's housing need is being met and that an extra $4 billion is needed over the next 10 years just to keep the status quo
Brampton, ON (May 11, 2023) – Members of Regional Council heard today that Peel’s affordable housing crisis would get significantly worse without billions of dollars of additional investment.
A report titled 'Affordable Housing: Investments Needed to Close the Gap' was presented at today's Regional Council meeting. It reveals that around 91,000 households in Peel are in core housing need and that only 19% of that need is being met.
The report also highlights that if 100% of Peel’s core housing need is to be met, an additional $50 billion will be needed over the next 10 years. And even just to maintain the current level of 19%, an extra $4 billion will be needed in that time. The report makes it clear that without significant additional funding, Peel will fall further behind in tackling the affordable housing crisis.
The report was followed by an ‘education session’ for Council during which Housing staff set out their plans to prepare an investment strategy for the Peel Housing and Homelessness Plan (PHHP) - a 10-year plan to tackle the affordable housing crisis.
Housing staff will present updates to Council throughout this year as they prepare for the 2024 budget deliberations. Upcoming reports will give recommended investment and service level options for homelessness prevention, emergency response, subsidy and supports, as well as maintaining and increasing housing supply.
This report is a stark reality check. We already knew that we were facing an unprecedented and extraordinarily complex challenge, but it is now clear that the level of investment required is tremendous. Peel Region is the primary funder of social housing in Peel. We simply cannot make inroads into tackling this crisis without significant support from all levels of government and partners in the private and non-profit sectors. If we are to help our residents to get and keep housing they can afford, the time for funding is now
Sean Baird, Peel Region Commissioner of Human Services.
Communications Advisor (Housing)
Region of Peel
About Peel Region
Peel Region works with residents and partners to create a healthy, safe and connected Community for Life for approximately 1.5 million people and over 175,000 businesses in the cities of Brampton and Mississauga and the Town of Caledon. Peel's services touch the lives of residents every day. For more information about the Region of Peel, explore peelregion.ca and follow us on Twitter @regionofpeel and Instagram @peelregion.ca.