The Toronto Regional Real Estate Board (TRREB) welcomes Minister Lecce’s announcement of the province’s approval of a new underwater electricity transmission line into Toronto, a critical investment that will support housing supply, economic growth, and long-term affordability for residents.

By delivering up to 900 MW of additional capacity or power for 900,000 new homes, this first-of-its-kind initiative removes a critical infrastructure barrier that has constrained housing growth. Reliable energy is foundational to building complete communities, accelerating approvals, and supporting the construction of hundreds of thousands of new homes.

Electricity demand in Toronto is projected to double by 2050. Expanding the energy grid and capacity is critical to ensuring the city and the region’s future success. This project provides the reliable power needed to unlock housing development, particularly in the downtown core and along transit corridors where the largest amount of growth is focused. By building housing enabling infrastructure, the provincial government is taking a forward-looking approach to ensuring Toronto and the GTA remain the economic engine of Ontario and Canada.