The survival of farms requires innovative adaptation and investment to take advantage of the characteristics of the peri-urban environment. In Ontario, Canada, the Provincial Government passed in 2005 the Greenbelt Act that delimits Ontario’s Greenbelt—an area of 1.8 million acres where land is protected from development around the metropolitan region of the Greater Golden Horseshoe. This paper presents research on farm-level analysis of farmers’ investment decision-making aiming at understanding the impact of Ontario’s Greenbelt on farm investment.