Canadian Mortgage News

January 2004 National News Archive

Two Affordable Housing Pilot Projects Approved in the City of London

LONDON, Ontario, February 26, 2004 — Two pilot projects that will create 102 units of affordable housing for low-income people in the City of London were allocated more than $2.7 million under the Canada-Ontario Affordable Housing Program.

The announcement was made by the Honourable Joseph Volpe, Minister of Human Resources and Skills Development, and Deb Matthews, MPP London North Centre, as part of $56 million allocated today to communities across Ontario.

"Today's investment demonstrates the Government of Canada's commitment to provide affordable housing for those Canadians who need it most. We are pleased to be working with the Province and the City to support healthy, sustainable communities right here in London," said Minister Volpe.

"The affordable housing program is an important part of the provincial government's efforts to strengthen the communities in which we live," said Ms. Matthews

"This is extremely welcome news for all Londoners, as we strive to combat homelessness in our community," says London Mayor Anne Marie DeCicco. "Although the critical need for affordable housing is a national issue, the City of London committed long ago to being part of the solution and with this additional funding for our two pilot projects, we can now put shovels in the ground."

The $2.7 million allocation to the City of London includes:

• $2.43 million for a 90-unit project at 382-392 Burwell Street in London. The project is sponsored by the non-profit organization Homes Unlimited. The units will be occupied by lower income tenants. Approximately 50 per cent of the tenants will pay rent geared to their income.
• $324,000 for a 12-unit project at 450 Pond Mills Road in London. The project is sponsored by the non-profit organization London's Affordable Housing Foundation. The units will be occupied by lower income families. All of the tenants will pay rent geared to their income.

Today's federal and provincial allocation will be complemented by more than $2.8 million in City of London capital funding plus other municipal financial incentives.

In the City of London, the Government of Canada, through Canada Mortgage and Housing Corporation (CMHC), has contributed $2.5 million through the Canada-Ontario Affordable Housing Program Agreement.

The pilot projects are part of a five-year commitment that will create affordable housing units in Ontario. This partnership combines Government of Canada funding of $245 million with matching contributions of the Government of Ontario, municipalities and other private and non-profit partners.

For further information please contact:

Mary Johnson
Office of Minister of State Scott
(613) 952-1684

Ross Parry
Office of Minister Caplan
(416) 325-1657

Mayor Anne Marie DeCicco
City of London
(519) 661-4920

For more information visit:
www.mah.gov.on.ca

News source: Canada Mortgage and Housing Corporation (CMHC)