A new set of affordable housing units will be created in London, Ont., following an announcement Monday.
Mayor Ed Holder along with MP for London West, Kate Young, MP for London North Centre, Peter Fragiskatos and Adam Vaughan, the parliamentary secretary to the Minister of Families, Children and Social Development, announced $10.8 million to create an estimated 49 new affordable homes through the Rapid Housing Initiative (RHI).
The housing units will support those in uncertain housing situations, experiencing or at risk of homelessness or living in temporary shelters.
“We have seen how COVID-19 has worsened existing housing and homelessness challenges,” said Kate Young, MP for London West. “The funding (will) provide immediate support to create safe and stable housing for vulnerable individuals and families.”
The funding is in addition to the Government of Canada’s previous investment of $7.5 million through the first phase of the RHI to support the creation of 61 housing units in London.
The federal government also announced an investment of $11.6 million to build a 65-unit apartment complex at 191 Commissioners Road West.
This project, proposed by P.A.M. Gardens Non-profit Housing, will provide a mix of affordable and market rent units, including 33 allocated to vulnerable individuals and those on London’s housing waitlist.
The funding for 191 Commissioners Road West is being delivered through CMHC’s National Housing Co-Investment Fund.
“We’ve made it our goal in London to achieve functional zero for chronic homelessness within five years, and these types of strategic investments are what’s going to help us get there,” said Mayor Ed Holder.
An additional $1.5 billion for the RHI was recently announced to create 4,500 new units of permanent affordable housing across Canada.