Construction industry insiders say the latest government policy reversal and elevated interest rates wreak uncertainty for developers. The news was met with disappointment from the Building Industry and Land Development Association (BILD), a GTA-based construction advocacy and lobby group. Disagreement over need for more landCalandra and his predecessor Steve Clark said the urban boundary expansions were another part of the wider plan to boost construction. A new housing development is constructed just outside the edge of the Duffins Rouge Agricultural Preserve, part of Ontario's Greenbelt , on Monday, May 15, 2023. Higher interest rates and elevated costs for materials and labour have combined to drastically increase the price of housing construction in recent years.
