LONDON, ON, March 21, 2025 /CNW/ - To make progress towards solving the housing crisis we need to build more homes at prices that Canadians can afford, faster. To do this we need to end restrictive zoning and speed up permitting, and add greater density, especially near transit and post-secondary institutions. The Housing Accelerator Fund (HAF) will cut this red tape and fast-track at least 112,000 new homes by 2028, which cities and regions estimate will lead to the creation of over 750,000 new homes for people in towns, cities, and Indigenous communities across Canada over the next decade.
Today, the Government of Canada announced that as a top-performing HAF recipient, the city of London will receive an additional $7.3 million, to help fast track a further 184 units over the next two years. To be considered a top performer, communities met their unit forecasts and delivered on their HAF Action Plan commitments for the first year, and proposed additional initiatives to accelerate housing, making them eligible to receive up to 10% of the value of their original agreement in additional funding.
With this additional funding, London will launch three grant initiatives to boost affordable housing, encourage Additional Residential Units, and expand housing along primary transit routes, including office conversions.
HAF requires action plans from local governments, unlocking funding to ensure the timely implementation of housing initiatives, with subsequent payments upon delivering results. Local governments are encouraged to think big and be bold in their approaches, which could include accelerating project timelines, allowing increased housing density, and encouraging affordable housing units.
The Government of Canada is making life more affordable for Canadians—and housing is key to our work. We will continue to work with provincial, territorial, and municipal governments, as well as Indigenous partners, to keep building more homes for Canadians, faster.
Quotes:
"Our government is committed to removing barriers and cutting red tape to enable housing development, and this additional funding will help leading communities do just that." - The Honourable Nathaniel Erskine-Smith, Minister of Housing, Infrastructure and Communities
"This investment is already making a real difference in this community and the lives of those who call London home. Our government remains committed to working with our partners to develop and implement solutions to housing both in London and across Canada." – The Honourable Arielle Kayabaga, Minister of Democratic Institutions
"The peace of mind that comes with having a secure and stable home is invaluable. This is why our government is pleased to be involved in the creation of these 184 new units which will provide Londoners with affordable and quality housing while supporting the local economy." – Peter Fragiskatos, Parliamentary Secretary to the Minister of Housing, Infrastructure and Communities
"This continued investment recognizes London's national leadership in creating the conditions to rapidly approve and build more housing of all kinds. With this funding, we are accelerating our efforts to increase housing supply, streamline approvals, and deliver much-needed homes for Londoners. This is another important step forward in addressing the housing crisis, and we remain committed to working with all levels of government and our community partners to get more homes built, faster." – Josh Morgan, Mayor of London
Quick Facts:
Associated Links:
SOURCE Canada Mortgage and Housing Corporation (CMHC)
Media Contacts: Sofia Ouslis, Ministry of Housing, Infrastructure and Communities, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]
Share this article