At today’s City Council session, officials unveiled a multi-layered plan on how best to spend federal Housing Accelerator Fund (HAF) money in an attempt to help housing production and boost affordability.
Photo Taken By: Evan Frederiksen XFM News
Deputy Mayor Shawn Lewis presented a three-pronged strategy: zoning changes, infrastructure improvements and incentives. “The first step was to modernize our ‘as-of-right’ zoning permits,” said Lewis. “Now people can build up to four units, including basement suites and backyard rental homes, without a special permit.” The reforms will bring density to established neighbourhoods.
Infrastructure upgrades are also in the pipeline. Lewis cited a development near Fanshawe College, where a sanitary sewer construction point measuring 500 meters was opened up for increased development. “We’re investing HAF money to open up that pipe so there will be more apartment units there,” he said.
As a response to affordability, the city is offering incentives to developers and non-profits. Lewis said that adding supply to the market can help stabilize rents. “The more product we have, the better chance prices will plateau,” he said.
In a move made simultaneously, Council approved new affordable housing developments, including 25 units in 763-773 Dundas Street and 50 units in 1500 Huron Street. Both developments reinforce the city’s goal of 47,000 new homes by 2031.
Through all these actions, London will be able to meet growing housing requirements without compromising affordability for Londoners.
