Funding for affordable housing in London, Ont.

Construction of an affordable housing building located at 345 Sylvan St. in London, Ont. is seen on Aug. 30, 2023. (Daryl Newcombe/CTV News London)

London, Ont.’s latest rapid-built construction project to address the housing crisis is taking shape.

On Wednesday, a $16.5 million investment was announced at 345 Sylvan Street.

“The idea is to build affordable housing in a fast way. This is 42 units that are barrier-free. We know our community needs barrier-free housing,” explained MP London West Arielle Kayabaga in an interview with CTV News.

The building is being assembled from prefabricated pieces that expedite the timeline.

The federal government is providing $8.8 million towards the build; the remaining $7.8 million is from the city.

“Under the Rapid Housing Initiative (RHI), the City of London has been the recipient of three rounds of funding, totaling to more than $27 million to build over 145 new affordable homes,” Kayabaga stated.

Similar rapid housing projects have already been completed at 122 Baseline Rd. W. and 403 Thompson Rd.

MP London North Centre Peter Fragiskatos said the federal government’s RHI aims to address chronic homelessness with consistent funding, “[Wednesday’s] announcement is another step towards creating more equitable and affordable housing for all.”

The three-storey brick building will offer affordable and accessible homes to individuals experiencing or are at-risk of homelessness.

Over a quarter of the units are designated for women and children.

“This project is a testament to what can be achieved when multiple levels of government work together towards a shared goal. We believe everyone deserves a safe place to call home,” said Josh Morgan, mayor of London.

Ward Coun. Skylar Franke looks forward to welcoming residents to the Old South neighbourhood, “These units will help address our ongoing housing crisis and add new neighbours to our community.”

Kayabaga said London’s proven track record partnering with the federal Rapid Housing Initiative sets the stage for future investments.

In recent days, the Minister of Housing, Infrastructure, and Community Sean Fraser has posted on social media about London’s commitment to partnering on solutions to the affordability crisis.

On Tuesday, city council unanimously endorsed a motion by Morgan to increase as-of-right units on residentially zoned properties from three (the provincial minimum) to four.

“This is something [the federal government] looks to replicate across the country where cities can remove the barriers and be flexible and work with the federal government to get money as soon as possible,” Kayabaga added.