York Region continues to see confidence in the appeal of our communities with over $550 million in development charges last year.
The 2022 Annual Development Activity Summary confirms development charges revenue collected was the highest in any of the previous five years.
Development activity highlights from 2022 include:
- $568,088,449 development charges; a 24 per cent increase from $457,348,103 collected in 2021
- 2,092 development applications; a 2 per cent increase over 2021
- 3,168 subdivision applications received, a significant increase of 87 per cent
- 18,547 new residential applications received, a 50 per cent increase from 2021
Development charges are collected through development approvals to pay for growth-related infrastructure. Bill 23, More Homes Built Faster Act, 2022 proposes several exemptions and discounts for attainable, affordable, non-profit and rental housing. These exemptions limit revenue through development charges and may need to be funded in other ways. York Region shares the provincial goal of improving housing affordability and continues to advance the work in building more homes faster with support and engagement from all parties.
A status update on available housing supply in York Region was also completed as of December 2022, indicating a strong supply of residential inventory. This update showed an estimated 65,900 approved and registered units across all nine municipalities. These unbuilt units represent a supply of over five years of growth that for many reasons have not been followed through on, including rising construction costs and shortages of skilled labour. In addition, there are 20,300 housing units under construction that will be occupied by residents upon completion.
The 2022 Annual Development Activity report summarizes new development applications received by the region in 2022 using data collected from YorkTrax, York Region’s digital development application and tracking system. YorkTrax provides application status data across the region to help plan regional and local municipal services and inform builders, developers and the public.
For more information on York Region’s housing affordability initiatives, visit york.ca/housingaffordability