Over the course of 2024, Canada Mortgage and Housing Corporation (CMHC) provided C$132 million in financing under its Affordable Housing Fund (AHF) program towards a quartet of affordable housing projects named Vision SoHo, a partnership between the City of London, Zerin Development Corporation, Homes Unlimited (London) Inc., Chelsea Green Home Society, and London Affordable Housing Foundation.
Vision SoHo plans to build 690 new rental homes with 55% of the units deemed affordable to seniors, persons with special needs in need of supportive services, singles and families. It represents the largest affordable housing development in the history of the City of London, Ontario.
The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partner organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. This is a C$14.6 billion program under the National Housing Strategy (NHS).
Fasken advised CMHC with a team led by Elana Hahn (Banking & Finance) that included Julie Paquette (Real Estate), Hayley Larkin (Banking & Finance), Gurkirat Batth (Banking & Finance), Rabab Asif (Banking & Finance), Safa Darwich (Banking & Finance) and Nuria Cabezuelo (Real Estate).
Jurisdiction
- Ontario
