A new build in south London that aims to get more people off the streets and into affordable housing has received a $16.5 million boost.
London Liberal MPs Peter Fragiskatos and Arielle Kayabaga, along with London Mayor Josh Morgan and Ward 11 City Councillor Skyler Franke, announced the funding for the affordable housing project at 345 Sylvan Street on Wednesday. The three-storey brick building just west of the intersection of Base Line Road East and Wellington Road South will be specifically for people experiencing or at risk of experiencing homelessness.
"This rapid housing initiative is helping us to build a resilient economy that includes everyone," said Kayabaga. "Without appropriate housing, people can not participate fully in our society. They struggle to maintain work, to study or to access social services."
The newly announced money, $8.8 million from the federal government and $7.8 million from the city, will be used to create at least 42 new affordable and accessible units at the building. More than 25 per cent of the units will be set aside for women and children.
Fragiskatos noted that London city councillors are committed to housing - and celebrated the passing of a motion that will allow multiple residential units to be build on individual properties in the city.
"I want to thank [Morgan] for his leadership, I also thank Skylar Franke, the councillor for the ward, and the rest of city council," Fragiskatos said. "That increases supply. That is the way to bring down costs."
Morgan noted that the partnership between council, CMHC and the federal government can be used as an example.
"Take the rapid housing initiative money and turn it into housing fast," Morgan said of what the city wants to accomplish. "This is not the first time that we've stood together. We were recently down the road talking about investments there."
The federal portion of the funding comes from the Rapid Housing Initiative - a $4 billion program that doles out cash to facilitate the construction of new housing and the acquisition of existing buildings for permanent affordable housing.
Construction of the building on Sylvan Street is already underway.
"This is a great piece of infill," said Franke. "It's close to schools, it's close to transit, it's very close to a shopping centre. When we work together, we can get things done."