In a November 10 press release by Ontario’s Ministry of Housing, the officials declared that the 281 housing units—funded in part by $9,306,546 in municipal contributions from London and Middlesex County—will cater to the needs of at-risk populations such as financially struggling households and individuals with physical disabilities.
“Our government is supporting initiatives that give families and individuals the safe and affordable housing they need. We know that once people have a roof over their heads, they can concentrate on other things in their lives, like having time to spend with their loved ones or securing long-term employment. These new initiatives in London and the surrounding area will help strengthen our community,” according to Deb Matthews, MPP London North Centre.
“We know that housing is instrumental in raising people out of poverty. There is no better way to address poverty than to start with the foundation of safe, secure housing. I am so pleased to see all levels of government working together to address the housing crisis,” London mayor Matt Brown said.
The announcement came in the wake of Ontario Premier Kathleen Wynne’s assurances late last month that her government has no plans of implementing a property transfer tax similar to that of the 15 per cent levy slapped by B.C. authorities on foreign buyers.
“B.C. has put in place a particular mechanism; we are not going to use that mechanism,” Wynne told reporters.
Observers have welcomed these statements, noting that overseas nationals are not major movers in Toronto real estate at the moment, amounting to approximately only around 5 to 10 per cent of home buyers in the provincial capital.
Ontario will outline plans next week to deal with rising home prices
Ontario’s Premier not keen on B.C.-esque foreign buyers’ tax
Federal authorities along with representatives from provincial and city governments announced the inauguration of 18 new affordable housing projects in London, ON as well as the surrounding region.