Investing in affordable homes in London

Every Canadian deserves a safe and affordable place to call home. With investments made by the Government of Canada, residents of London will have access to more affordable housing in their community.

Today, Adam Vaughan, Parliamentary Secretary to the Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation, alongside Peter Fragiskatos, Member of Parliament for London North Centre, and Kate Young, Member of Parliamentary for London West, announced nearly $25 million loan to help build 110 new homes in London.

The project, located at 99 Pond Mills Road, is being built by Homes Unlimited with several area service providers to create units that will support persons with disabilities and limited mobility, families and households of modest means, women and children coming from shelter housing, seniors, indigenous persons and new immigrants.

This funding is being delivered through the Government of Canada’s National Housing Co-Investment Fund (NHCF), which supports new and revitalization construction of mixed-income, mixed-tenure, and mixed-use affordable housing. The NHCF is a key pillar of the National Housing Strategy (NHS).

Quotes:

“Every Canadian deserves a safe and affordable place to call home. Our investment of nearly $25 million in this project has helped build new homes for those who need them most, including those living with disabilities. This is the National Housing Strategy at work.”

“Everyone, especially the most vulnerable in our communities, deserve an affordable place to call home. The housing investment we have made today will assist priority groups under our government’s National Housing Strategy, including those living with disabilities, seniors, women and their children, and indigenous peoples. Our government is proud to step up for those who need a helping hand to live independently, and increase their financial security.”

“Creating new affordable homes for those who find themselves in precarious housing conditions is a priority for our government. By providing funding for projects like 99 Pond Mills, we are taking action to address severe housing needs here and London, and across the country. It will provide support to create affordable, safe and stable housing for vulnerable individuals and families.”

“This investment is a crucial step towards ensuring that the most vulnerable among us have access to the housing and supports that meet their needs. Housing is about dignity. As a result of today’s announcement, we are acting to meet the unique housing needs of our city so that residents of London can be safe and can continue to thrive.”

“This is Homes Unlimited’s largest project to date and when we welcome our first tenants in the fall of 2022, 99 Pond Mills will help us celebrate 50 years of providing safe and affordable housing for Londoners in need. Unfortunately, the need for accessible, affordable rental accommodation in London remains at an all-time high and we are hoping Homes Unlimited can continue to address these needs in the years ahead.”

Quick facts:

• With a budget of $13.2 billion, the NHCF gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous people, people with disabilities, those with mental health or addiction issues, veterans and young adults.
• Through the NHCF, the Government of Canada will work with partners to build up to 60,000 new affordable homes and repair up to 240,000 existing affordable and community homes.
• Under the NHCF, investments are also planned to create or repair at least 4,000 shelter spaces for victims of family violence, as well as create at least 7,000 new affordable housing units for seniors and 2,400 new affordable housing units for people with developmental disabilities.
• To help Canadians find affordable housing, Budget 2021 proposes to provide an additional $2.5 billion over seven years in new funding and a reallocation of $1.3 billion in previously announced funding to speed up the construction, repair, and support over 35,000 additional housing units.
• In Budget 2021, $750 million in existing funding under NHCF is proposed to be advanced to 2021 – 22 and 2022 – 23. This will accelerate the creation of 3,400 new units, and the repair of 13,700 units. $250 million in existing funding will also be allocated to support the construction, repair, and operating costs of an estimated 560 units of transitional housing and shelter spaces for women and children fleeing violence. Advancing these funds will help the Government to address gender-based violence.
• Canada's National Housing Strategy (NHS) is a 10-year, $72 billion plan that will give more Canadians a place to call home.

Associated links:

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that by 2030, everyone in Canada has a home they can afford, and that meets their needs. For more information, follow us on Twitter, YouTube, LinkedIn, Instagram and Facebook.

To find out more about the National Housing Strategy, visit www.placetocallhome.ca.

Homes Unlimited is a leader in non-profit housing in London, Ontario since 1972, with 540 housing units across nine locations.

Information on this news release:

Hafsah Asadullah
Communications Assistant
Minister of Families, Children and Social Development
Hafsah.Asadullah@hrsdc-rhdcc.gc.ca

Audrey-Anne Coulombe
Canada Mortgage and Housing Corporation, Media Relations
acoulomb@cmhc-schl.gc.ca