By Lincoln DePradine

The Ontario government has reaffirmed its commitment to constructing over one million new homes across the province. Citizenship and Multiculturalism Minister Michael Ford introduced new legislation aimed at advancing conservation goals while supporting Ontario’s future growth, with a target of building at least 1.5 million homes.

Ford highlighted these initiatives against the backdrop of recently tabled legislation in the provincial legislature. According to the government, the “Homeowner Protection Act 2024” aims to significantly bolster safeguards for homeowners and buyers of new freehold homes.

Among its provisions, the proposed law would prohibit the registration of Notices of Security Interest (NOSIs) for consumer goods in the land registry. It also seeks to enhance protections for new homebuyers, including members of the Black and Caribbean communities, and recent arrivals by establishing a mandatory 10-day cooling-off period for purchases of new freehold homes.

Minister of Public and Business Service Delivery Todd McCarthy emphasized the significance of these measures: “By banning NOSIs on land titles, we are ending exploitation targeted at our elderly and vulnerable residents. These enhancements will provide Ontarians with essential information and time to confidently make significant financial decisions.”

McCarthy hailed the legislation as groundbreaking, asserting it would be the first of its kind in Canada to shield consumers from fraud and misconduct associated with NOSIs. The government’s investigations revealed instances where bad actors used NOSIs to extract exorbitant payments, particularly from seniors.

It also would provide additional protections for new homebuyers, especially Black and Caribbean community members, and recent arrivals, by establishing a 10-day cooling-off period for buyers of new freehold homes.

Premier Doug Ford’s administration intends to further fortify consumer protections for both condominium communities and purchasers of new freehold homes. The government plans consultations to gather feedback aimed at enhancing condo owner protections and improving management practices.

Additionally, the proposed legislation includes amendments to the Ontario Heritage Act. These amendments are designed to ensure municipalities prioritize the review of properties deemed most crucial to their communities. Overall, these changes are intended to support heritage conservation efforts while facilitating housing construction and future development.

Minister Michael Ford underscored the government’s commitment to conserving Ontario’s heritage properties for future generations: “Our government is steadfast in ensuring that the most significant heritage properties in Ontario communities are preserved and protected.”

The legislative proposals represent a comprehensive approach by the Ontario government to address housing needs, protect consumers, and preserve cultural heritage across the province.

Local Journalism Initiative Reporter