London awarded nearly $12 million from province

The province awarded the City of London nearly $12 million through the second round of the ‘Building Faster Fund.’ CTV London’s Lauren Stallone has more.

The province awarded the City of London nearly $12 million through the second round of the ‘Building Faster Fund.’

“Two years ago, our government established the 1.2 billion dollars ‘Building Faster Fund’ to encourage municipalities to speed up approvals, issue permits and get shovels in the ground faster,” said Premier Doug Ford.

The program rewards municipalities that hit at least 80 per cent of their provincially designated housing targets.

“The City of London achieved 95 per cent of its 2024 housing target, which is outstanding,” said Ford.

The province said the funding will support more housing and new community infrastructure.

“Our goal is to simply ensure more people can own their own piece of Ontario and their own piece of Canada,” said housing minister, Rob Flack.

Flack said tackling affordability starts with supply.

“There is a clear demand and supply issue,” said Flack. “Recently, because of these conditions, we have seen the housing market come to a standstill.”

London Mayor Josh Morgan said the investment will be ‘ground-breaking’ for the city’s future.

“We’re ready to put those resources in the ground to build more housing in the city,” said Morgan. “Whether it’s downtown or around transit, council continues to be committed.”

The province said it’s also moving to speed up infrastructure projects, streamlining development through the new Protect Ontario by Building Faster and Smarter Act, 2025.