London: 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, have announced a $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 CoInvestment 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).
Ahmed Hussen said: “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.”
Adam Vaughan said: “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.””
Kate Young added: “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.”
Peter Fragiskatos said: “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.”
Carmen Sprovieri, Homes Unlimited President, said: “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, 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.”