LONDON, ON, Nov. 12, 2025 /CNW/ - Changes in the global trading system are causing massive disruptions and uncertainty for Canadians. The world has changed, and Canada's economic strategy must change.
Budget 2025: Canada Strong is our plan to transform our economy from one that is reliant on a single trade partner to one that is stronger, more self-sufficient, and more resilient to global shocks. This budget is a plan to enable $1 trillion in investments over the next five years. This is a plan for Canada to give ourselves more than any foreign government can take away – a plan to build Canada strong.
Central to that plan is building – major infrastructure, millions more homes, and strong communities. To that end, the Government of Canada launched Build Canada Homes which will help double the pace of homebuilding over the next decade to increase housing supply, alongside other measures. It will also transform public-private collaboration and deploy modern methods of construction, as it catalyses the creation of an entirely new Canadian housing industry. This new federal agency will build affordable housing at scale, including transitional and supportive housing, deeply affordable and community housing, and affordable homes for the Canadian middle class.
As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working together with the private and non-profit sector to bring down costs and build homes at a scale and pace not seen in generations. These investments are also providing Canadians with increased access to affordable and sustainable housing.
Solving Canada's housing crisis requires immediate action to bring down costs, cut red tape, and build homes more quickly. As part of the Government of Canada's broader efforts to respond to the housing crisis, work is being done across the housing continuum to respond to the needs of communities across Canada.
To that end, the Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partnered organizations for new affordable housing and the renovation and repair of existing, affordable and community housing,
Today, the federal government announced over $11 million in funding to help build 50 secure, affordable supportive homes in London.
The supportive homes, at 46 Elmwood Place, will be established in the former nursing home through a partnership between Indwell and Developing for Change. The Coves Landing project will create safe, affordable, and supportive housing for individuals in London who are homeless or at risk of homelessness.
Developing for Change will lead the retrofit of the building into modern, energy-efficient units, while Indwell provides onsite supports to help residents achieve stability and wellness. Together, the partners are transforming the space into a thriving community that promotes dignity, inclusion, and lasting housing security.
The announcement was made by the Honourable Arielle Kayabaga, Member of Parliament for London West, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada alongside Josh Morgan, Mayor of London.
The past year has revealed there are limits to Canada's economic independence. Budget 2025 is tackling that challenge head on. It is our plan to take control and build the future we want for ourselves. It is our plan to build Canada Strong.
Quotes:
"Our government is committed to ensuring that everyone, especially the most vulnerable, has access to a safe and stable home. Coves Landing represents a vital step toward providing affordable rental housing for those who need it most here in London. It highlights the power of collaboration, and stands as another key milestone in our bold, forward looking plan to build a stronger, more resilient Canada." – The Honourable Arielle Kayabaga, Member of Parliament for London West
"This investment represents another major step forward in our collective effort to ensure that every Londoner has a safe, affordable place to call home. With support from the Government of Canada and strong community partners like Indwell and Developing for Change, this is the kind of collaboration and innovation that makes a difference in our city and across the country. Coves Landing will provide safety, dignity, and belonging for people who've faced some of the toughest barriers to housing" – Josh Morgan, Mayor of London
"Coves Landing is an inspiring partnership between CMHC, the development industry, the City, and community donors. When we all bring our strengths to the table, we can create lasting solutions to homelessness. We are grateful to CMHC for transformational funding toward this project." – Jeff Neven, CEO, Indwell
"I'm proud to be part of Development for Change – a collaboration among four local builders and developers: Auburn Group, Drewlo Holdings, Sifton Properties, and The Tricar Group – and I know my peers feel the same. Together, this partnership unites our collective expertise in construction and development to make a meaningful impact on the urgent issue of homelessness in the community we all call home. "- Jamie Crich, President of Auburn Group & representative of Developing for Change
"It's thanks to the generosity of a local family and Londoners from all walks of life that the Fund for Change is contributing $5.7 million to help create much-needed, highly supportive housing at Coves Landing. Thank you to everyone who has supported community-wide efforts to address the health and homelessness crisis through the Fund for Change." – Diane Silva, President and CEO of London Community Foundation, which administers the Fund for Change
Quick Facts:
- The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partnered organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. This is a $16.1 billion program under the National Housing Strategy (NHS) that gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous Peoples, people living with disabilities, those with mental health or addiction issues, Veterans, and young adults.
- As of June 2025, the Government of Canada has committed $12.91 billion to support the creation of over 50,300 units and the repair of over 174,600 units through the Affordable Housing Fund.
- On September 19, 2025, the Government of Canada announced $1.5 billion top-up in loans for the Affordable Housing Fund's New Construction Stream, to support the creation of over 5,000 new units starting in 2025-26. Additionally, the Affordable Housing Fund's Rapid Housing Sub-Stream will be accelerated, by pulling $385 million in funding from future years.
- Funding provided for 46 Elmwood Place is as follows:
- Over $11 million from the federal government, through the National Housing Strategy's Affordable Housing Fund
- $2.5 million from the City of London to offset capital expense and to support rent supplements
- $5.7 million from The London Community Foundation
- $2 million from Developing for Change, a partnership between four of the city's major developers – The Tricar Group, Drewlo Holdings Inc., Auburn Group and Sifton Properties Limited to offset capital expenses.
Additional Information:
- Visit canada.ca/housing for the most-requested Government of Canada housing information.
- Learn more about BCH
- CMHC plays a critical role as a national facilitator to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to homeownership and the creation and maintenance of rental supply. We also actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Follow us on X, YouTube, LinkedIn, Facebook and Instagram.
SOURCE Canada Mortgage and Housing Corporation (CMHC)
Contacts: Renée LeBlanc Proctor, Office of the Minister of Housing and Infrastructure, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]
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