Federal government funding will help build 370 affordable homes in London

Ontario Construction News staff writer

The federal government will provide $132 million in low-interest and forgivable loans to build and repair affordable homes in London.

Vision SoHo projects are a partnership between the City of London, Zerin Development Corporation, Homes Unlimited (London) Inc, Chelsea Green Home Society and London Affordable Housing Foundation.

“Homes Unlimited is only one partner in this Village, but the co-operation of 6 private local non-profit housing providers, our builder Southside Construction, our consultants, the London Community Foundation, CMHC and the City of London all made this possible,” said Jim Foote, Homes Unlimited (London) Inc.

“As one of the largest non-profit housing projects underway in Canada, all our partners look forward to welcoming tenants and creating a new community which truly reflects London.”

Projects include:

Zerin Place on South for the construction of 119 units

• $40.4 million from the federal government’s AHF
• $140,000 from the federal government through SEED funding
• $1.7 million from the City of London
• $1.6 million from Zerin Development Corporation in cash and land equity

Homes Unlimited London for the construction of 93 units

• $32.5 million from the federal government’s AHF
• $124,000 from the federal government through SEED funding
• $1.4 million from the City of London
• $2.4 million  from Homes Unlimited (London) Inc. in cash and land equity

Chelsea Green for the construction of 81 units

• $29.6 million from the federal government’s AHF
• $100,000 from the federal government through SEED funding
• $1.2 million from the City of London
• $2.2 million from the Chelsea Green Home Society in cash and land equity

LAHF for the construction of 77 units

• $29.5 million from the federal government’s AHF
• $104,000 from the federal government through SEED funding
• $1.1 million from the City of London
• $1.6 million from the London Affordable Housing Foundation in cash and land equity

“The Chelsea Green Home Society is thrilled to be part of the Vision SoHo Alliance which is building affordable housing at the site of the former Victoria Hospital,” said Susan Riggin, Chelsea Green Home Society. “The major funding from CMHC is allowing us to build an 81 unit building at 373 Hill St.”

As of March 2024, the federal government has committed $50.97 billion through the NHS to support the creation of over 146,000 units and the repair of over 286,000 units.