London has just scored a massive win in the housing game, becoming the first city in Canada to secure a second round of Housing Accelerator Funding from the federal government.

Mayor Josh Morgan announced on March 21 that the city is receiving an additional $7.3 million to build more housing of all types. This comes after London already received $73 million in the first round of funding about 18 months ago.

And if you’re wondering why London is getting all this cash while other cities are still waiting in line? It’s because we’re absolutely crushing it when it comes to results.

According to the Mayor, London exceeded its first-year Housing Accelerator target by more than 150 units, proving that the city is seriously committed to accelerating housing development through bold decisions and innovative policies.

The numbers don’t lie. The Canadian Home Builders’ Association (CHBA) Municipal Benchmarking Study for 2024 revealed some pretty impressive stats about our city:

• London was the best performing Ontario municipality
• London had the fastest site plan and development permit approval timelines in Canada
• London had the lowest low-rise and high-rise development fees in Ontario
• City Council passed the most significant increase in as-of-right high-density zoning in 35 years

If that’s not enough to brag about, the Canada Mortgage and Housing Corporation reported that London’s total housing starts were up an incredible 101% year over year. That puts us second in Ontario and third across Canada.

This growth is particularly impressive when you compare it to other major Ontario cities. While London was booming with a 101% increase, Toronto was down 20%, Kitchener-Waterloo dropped by 28%, and Hamilton fell by 29%.

Last year, London City Council approved a record-breaking 22,890 new units of housing – the highest number ever recorded in the city’s history. That’s four times more than the previous year and five times more than the year before that.

The city continues to work with federal and provincial government partners, builders, developers, tradespeople, and not-for-profits to create more housing of all types as quickly as possible for Londoners.

With this additional funding and London’s proven track record of housing development, the city is positioned to continue addressing housing needs for residents now and in the future.