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Peterborough Surpasses Housing Goals, Secures Extra Funding

1/11/2025

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Summary

Story summary

Peterborough, Ontario, surpassed its 2024 housing target by 31%, issuing permits for 515 units.
The city is eligible for extra funding from Ontario's Building Faster Fund to tackle housing supply challenges.
Mayor Jeff Leal stresses the importance of sustaining housing development progress.
Peterborough aims for a total of 4,700 housing units by 2031.

History

Historical Context

Peterborough's housing surge echoes the post-World War II New Towns movement, which aimed to alleviate urban overcrowding. The 1967 designation of Peterborough as a New Town sought to create homes for 70,000 people, reflecting ongoing efforts to address housing shortages in growing urban areas.

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Story summary

Peterborough, Ontario, surpassed its 2024 housing target by 31%, issuing permits for 515 units.
The city is eligible for extra funding from Ontario's Building Faster Fund to tackle housing supply challenges.
Mayor Jeff Leal stresses the importance of sustaining housing development progress.
Peterborough aims for a total of 4,700 housing units by 2031.

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