$90M in federal money promised for London affordable housing projects

Almost $90 million in federal money has been earmarked for the development and repair of affordable housing units in London, politicians announced Thursday.

The announcement made by Liberal MPs Peter Fragiskatos and Arielle Kayabaga, and London Mayor Josh Morgan took place at 440 Clarke Road, the site of a supportive housing building for people with low incomes.

"This funding will help people throughout the London area access safe and affordable housing that meets their needs," said Fragiskatos, who is also parliamentary secretary to the minister of housing, infrastructure and communities.

The money comes from the Afforable Housing Fund, which was created by the federal Liberals under their National Housing Strategy. The fund has a total pot of $14.6 billion in funding that is meant for projects that help those in need of affordable housing, living with disabilities, and more, according to the government.

The announcement stated London's share of the funding will help create 245 new units and repair 393 existing ones. The total funding being allotted for London housing projects is $89,997,654, which will be split across five projects.

Here is a full breakdown of the allocation of the money and how many units are expected to be created or repaired at each project:

• $74,392,454 for Residenza Victoria at 1109 Hamilton Rd. for 180 units.
• $1,400,000 for repairs at P.A.M Gardens at 685 Deveron Cres. for 279 units.
• $855,000 for Talmill Towers at 693 Talbot St. for 57 units.
• $2,255,777 for Native Inter-Tribal Housing Co-operative at 37 Tecumseh Ave. for 57 units.
• $11,094,423 for Zerin Place on Clarke Road at 440 Clarke Rd. for 65 units.

Thursday's announcement is the latest development in a concerted push for affordable housing and projects meant to accelerate housing development in London in 2024.

The City of London began offering incentive funding for office-to-residential building conversions this year, with two developments taking advantage of the offer to date.

In the spring, council agreed on clear criteria for highly supportive housing, with the intention of paving the way for the city's goal of 600 new highly supportive units in three years.

In the summer, the city announced $5.7 million of an anonymous $25 million donation to city hall would go toward converting a former care home on Elmwood Avenue into supportive housing units.