The mayor of London says he is "thrilled" about an injection of cash to address public housing in the city.
Ed Holder was among those on hand Thursday as the federal government announced $40.1 million in loans for repairs and improvements to over 2,000 affordable housing units in London.
London and Middlesex Community Housing (LMCH) is getting two loans over a seven year period, a $15.5 million forgivable loan and a $24.6 million loan that will have to be paid back.
“This is nothing short of a transformational investment," Holder said. "Not only will these funds allow us to restore and regenerate thousands of existing affordable housing units, but in so doing, we are also able to restore a sense of dignity and belonging to thousands of Londoners. The issue of providing quality affordable housing is one that has absolutely united our Council, and the community at large. We are grateful to have the Federal Government and CMHC as responsive and compassionate partners in this vital, life-changing work.”
The number of families waiting for public housing in the London area has long sat in the range of 5,000. LMHC CEO Andrea Mackenzie said the loans will make things better for those who have made it off the waiting list and into public housing.
“Today marks the beginning of a new era at London Middlesex Community Housing," she said. "We are thrilled to receive this level of investment in our communities through CMHC as part of the National Housing Strategy and the City of London. With this funding, we will be able to improve the quality of the homes we offer with modernized accessibility and energy-efficient upgrades. This in turn will help improve the quality of life for residents who live with us at LMCH so that they can spend their years in comfort.”
