The federal government announced it will invest over $20-million to build more affordable housing in London.
On Monday, the Canada Mortgage and Housing Corporation (CMHC) said $10.8-million will be used by the city to build around 49 affordable units under its rapid housing initiative.
The funds come in addition to a $7.5-million investment previously announced to build 61 affordable apartments on 122 Base Line Road West.
Also included is $11.6-million to build a 65-unit apartment complex located at 191 Commissioners Road West.
The project proposed by P.A.M Gardens non-profit housing plans to provide a mix of affordable and market-priced units. A total of 33 units will be allocated for individuals and families on London's housing waitlist.
"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," Mayor Ed Holder said. "Solving this crisis speaks to who we are as a community and who we are as Londoners."
The CHMC's rapid housing initiative program was launched in October 2020 to address the urgent housing needs of vulnerable Canadians in municipalities across the country.
