CANADA SUPPORTS OVER 70 NEW AFFORDABLE HOMES IN LONDON

LONDON, ON, March 18, 2022 /CNW/ - Every Canadian deserves a safe and affordable place to call home. The COVID-19 pandemic has made it clear that affordable housing is key to Canada's recovery, including in London.

Today, the Honourable Ahmed Hussen, Minister of Housing, Diversity and Inclusion, alongside Peter Fragiskatos, Member of Parliament for London North Centre and Parliamentary Secretary to the Minister of National Revenue, Arielle Kayabaga, Member of Parliament for London West, Josh Morgan, Deputy Mayor on the behalf of Ed Holder, Mayor of London, and Jeff Neven, CEO of Indwell, announced over $13.2 million in funding from the federal government. This investment will help build the Embassy Commons, which will provide 72 housing units. These housing units will offer supportive housing at deeply affordable rents for people who have struggled with housing stability, usually because of a mental health disability.

Located at 740 Dundas in London, this project will create a total of 72 residential units and will be operated by Indwell. The building will offer accessible common areas with community kitchens, and outdoor amenity spaces provide the infrastructure to encourage active community engagement for all tenants.

This investment by the Government of Canada was made possible by the National Housing Strategy's (NHS) National Housing Co-investment Fund (NHCF). The project also received $59,000 of SEED funding.

Quotes:

"Every Canadian deserves a safe and affordable place to call home. Through the National Housing Co-Investment Fund, our government is delivering on its commitment to helping those who need it most in local communities. This project will make a real difference in the lives of people in London. We will continue to do our part to create even more affordable housing that will benefit all Canadians for decades to come." ? The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"Through the National Housing Co-Investment Fund, our government is investing in affordable housing here in London and across Canada to help create jobs and improve quality of life for those who need it most. Thanks to today's announcement, members of our community earning a lower income now have access to affordable homes. This is the National Housing Strategy in action." ? Peter Fragiskatos, Parliamentary Secretary to the Minister of National Revenue and Member of Parliament for London North Centre

"This investment through our National Housing Co-investment Fund is improving the quality of life for those who will call the Embassy Common their home and has made London a better place to live. This investment will help those who need it most find a safe and affordable place to call home."  ? Arielle Kayabaga, Member of Parliament for London West

"London City Council has made historic investments as part of our 'Roadmap to 3,000 Affordable Units.' However, we've said all along that no municipality can do this alone. That's why we're so grateful to have ongoing support from our federal government partners, and local Members of Parliament, as we work collaboratively to solve this crisis. The Embassy Commons project is the latest example of a federal-municipal partnership that is putting Londoners into affordable homes." ? Josh Morgan, Deputy Mayor of the City of London

"Indwell is proud to partner with the federal government to create new homes for Londoners seeking health, wellness and belonging. We are excited to begin welcoming tenants to our supportive community this summer." ? Jeff Neven, CEO of Indwell

Quick facts:

• To date, the federal government has invested $18.3 million to help create 105 affordable homes in the City of London through the Rapid Housing Initiative.
• With a budget of $13.2 billion, the NHCF gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous people, people with disabilities, those with mental health or addiction issues, veterans and young adults.
• To help Canadians find affordable housing, Budget 2021 provides an additional $2.5 billion over seven years in new funding and to reallocate $1.3 billion in previously announced funding to speed up the construction, repair, and support over 35,000 additional housing units across the country. 
• In Budget 2021, $750 million in existing funding under NHCF has been advanced to 2021-22 and 2022-23. This will accelerate the creation of 3,400 new units and the repair of 13,700 units. $250 million in existing funding will also be allocated to support the construction, repair, and operating costs of an estimated 560 units of transitional housing and shelter spaces for women and children fleeing violence. This funding will help the Government address gender-based violence.
• Canada's National Housing Strategy (NHS) is a 10-year, $72+ billion plan that will give more Canadians a place to call home.

Related links:

• Coronavirus disease (COVID-19)
• Canada's COVID-19 Economic Response Plan
• Rapid Housing Initiative
• National Housing Strategy
• As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC's aim is that by 2030, everyone in Canada has a home they can afford and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.

SOURCE Canada Mortgage and Housing Corporation