LONDON, ONT. — The Government of Canada recently announced details of the $7.5 million Rapid Housing Initiative (RHI) allocation for the City of London, Ont.
The funding will provide 61 new affordable homes across the city, focusing on priority and vulnerable populations consistent with the objectives the City’s Housing Stability Action Plan.
With $1 billion allocated through the RHI, the Government of Canada will support the construction of up to 3,000 permanent, new affordable housing units across the country to help address urgent housing needs for Canadians, states a release.
The RHI provides capital contributions to develop new, permanent affordable housing by covering costs associated with modular multi-unit rental construction; conversion of non-residential to affordable multi-residential; and the rehabilitation of buildings in disrepair or that have been abandoned, to affordable multi-residential, adds the release.
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