As part of an expansion to the Rapid Housing Initiative (RHI), London will be receiving $8.8 in federal funding for a new affordable housing project.
London Liberal MPs Peter Fragiskatos and Arielle Kayabaga, along with London Mayor Josh Morgan and Ward 11 Coun. Skyler Franke, announced the new funding for the project, located at 345 Sylvan St.
The project will be a three-floor building providing 42 new units to those at risk of or currently experiencing homelessness, with a quarter of the units designated for women and children.
“This is another example of when we work together, we can get great things done,” Franke said. “This is a great piece of infill, it’s close to schools, it’s close to transit, it’s very close to shopping centres.”
In addition to the federal funding, the City of London will be putting an additional $7.8 million into the project.
The new investment is part of a $1.5-billion expansion to the RHI, which is expected to provide another 4,500 more affordable housing units.
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“The funding has been divided in two streams, a project stream and a city stream,” Kayabaga said.
“The city stream focuses on the hardest-hit communities. These funds will go to projects that rapidly create permanent, affordable homes for people in severe housing need, and for those experiencing or at risk of homelessness.”
Fragiskatos praised the recent passing of a motion at council that would see the number of units for rent allowed in a home increased from three to four.
“I want to thank the mayor for his leadership, I also thank Skylar Franke, the councillor for the ward, and the rest of the city council for what they did last night. That increases supply, that is the way to bring down costs.”
Morgan spoke on how the partnership between the federal government and municipalities has been beneficial for getting houses built.
“This is not the first time that we’ve stood together,” he said. “We were recently down the road at Thompson Road, talking about the investments there. This will happen again and again and again, as long as this phenomenal partnership continues.”
Morgan and both MPs emphasized the importance of co-operation between all levels of government in order to meet housing goals.
“The call really goes out to every single level of government that we do need to bring everything to the table to make sure that we’re building homes fast, as our population is growing just as fast,” Kayabaga said.
To date, the federal government has invested over $27 million into housing in London.
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