Home Builders Welcome Public Transit, Infrastructure and Housing Investments in Federal Budget
For immediate release
Ottawa – March 22, 2015 – The Canadian Home Builders’ Association (CHBA) today welcomed the government’s Budget plan to invest in public transit systems and municipal infrastructure, which will help make houses more affordable.
“Federal investment of up to 50% of capital costs in public transit is critical to housing affordability,” said Kevin Lee, CHBA’s Chief Executive Officer. “Under the conventional one-third from each level of government formula, an increasing portion of the municipal share would likely come from higher development taxes on new home buyers. The Public Transit Infrastructure Fund should help limit price pressures on new residential development.”