While short on specifics, London Mayor Ed Holder calls on builders and developers to partner with city and government to quadruple affordable housing units over next five years
DURING THE ANNUAL London Chamber of Commerce State of the City address on Tuesday (this year held virtually), London Mayor Ed Holder challenged the private sector to help quadruple the amount of affordable housing that is built over the next five years in an effort to curb homelessness.
During his speech, Holder announced London had made history by becoming the first community in Canada to achieve functional zero for Veteran homelessness, meaning the number of veterans experiencing homelessness is less than or equal to the number of veterans the city can house in a month.
Saying he wants to build 3,000 new affordable housing units over the next five years, Holder believes the city could become functional zero for “chronic homelessness, period” in five years.
“Right now, we’re averaging about 150 new [affordable housing] units each year. If that remains our pace, it would take us 20 years to achieve. That’s unacceptable,” he said in his address.
“It requires us to quadruple the number of affordable housing units that are currently being provided annually, but we can do this, and the time to start is now,” said Holder, while issuing a challenge to London’s private sector.
Story Continues Below
“We need the private sector. We need you as builders, as developers, as Londoners who have grown with this city. You make investments in buildings and property. We need you to make additional investments in people and community.”
While short on specifics regarding development and funding models, Holder called on builders and developers to partner with the city and other levels of government to find “constructive ways” to help those without an affordable place to live.