Feds deliver $90M boost to London affordable housing projects

Affordable housing in London is getting a $90-million federal injection that will see 245 homes built and nearly 400 homes repaired, MP Peter Fragiskatos announced Thursday.

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The funding will provide housing for some of London’s most vulnerable residents, the London North Center MP said during a news conference at 440 Clarke Rd., an apartment building with a mix of affordable and market-rent units that received federal support.

“It is the priority; housing is the issue of the day,” said Fragiskatos, who is parliamentary secretary to federal Housing Minister Sean Fraser. “We will make sure needs are addressed in the community.”

He was joined by London West Liberal MP Arielle Kayabaga and London Mayor Josh Morgan for the announcement.

The funding, from the National Housing Strategy’s $14.6-billion affordable housing fund, will support five projects:

• $74.4 million for Residenza Victoria on Colborne Street to build 180 units
• $11 million for Zerin Place on Clarke Road to build 65 units
• $2.2 million for Native Inter-Tribal Housing Co-operative to repair 57 units
• $1.4 million for repairs to PAM Gardens, 279 units
• $855,000 for repairs at Talmill Towers, 57 units

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The bulk of the money – $85 million – are loans, the balance is a grant, Fragiskatos said.

“When we think about the ability to create housing, we always talk about a shared responsibility, to come together to create housing in all its forms,” Morgan said. “We need to create spaces.”

“We are committed to making communities stronger through projects like these,” Kayabaga said. “These investments help create new jobs and stimulate the local economy, while providing access to safe, affordable homes for Canadian seniors, families and individuals.”

The funding for Zerin Place at 440 Clarke Rd. is for units that have already been built and will be paid to the building operator.

Brad Handley has been a tenant at Zerin Place for three years, paying market rent, and was on hand to cheer the announcement, saying it works to help those in need.

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“I think it is very encouraging. We care about the community here. There are terrific tenants here. We have made a lot of friends and it is important to be involved,” he said.

“There are so many people who have no place to live.”

Zerin Place, built by Southside Developments, has some affordable units and others that are market rent. The rents in the building range from $1,300 a month for a one-bedroom unit to more than $1,600 for a two-bedroom unit. The affordable units would be 70 to 80 per cent of those rents.

“This is one of the best ways the government can spend taxpayers’ money to support the community,” said Vito Frijia, president of Southside Developments, a frequent builder of affordable housing in London.

“I support their policies on this; non-profit groups in London are volunteers that run a great ship. They look after the community; they look after the tenants.”

In September 2023, Prime Minister Justin Trudeau was in London to announce $74 million in funding for the city from the federal government’s housing accelerator fund. That money is for building new homes, converting office space into apartments and supports for people living in affordable housing units.

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