The City of London will receive almost $12 million from the Ontario government for reaching more than 95 percent of its housing-construction targets last year.

London broke ground on 3,723 new homes in 2024.

The funding is being provided through the second round of the Building Faster Fund, which provides funding to municipalities that achieve at least 80 percent of their provincially designated housing targets.

The City of London can use the money to build more homes and community infrastructure.

“We’re working closely with Mayor Morgan and with local leadership in municipalities across Ontario to get more homes built faster,” said Premier Doug Ford. “Today’s investment is just the latest step we are taking to protect our workers and communities by supporting continued growth in London and across Ontario.”

Announced in August 2023, the Building Faster Fund is a three-year, $1.2 billion program that is designed to encourage municipalities to speed up municipal approval processes and get more homes built faster. The fund awards municipalities that make significant progress against their targets by providing funding for housing-enabling and community-enabling infrastructure.

The province is also providing funding to support community and housing-enabling infrastructure through the Municipal Housing Infrastructure Program, which was recently expanded to $4 billion. The City of London is receiving more than $42 million through MHIP, which helped fund infrastructure that will support more than 22,500 homes. MHIP also distributed $26 million for Middlesex County to enable the construction of more than 4,000 new homes.

“London has a steadily increasing population and I am proud of the work we have done to build across our city in response to the growing demand for more homes,” said London Mayor Josh Morgan. “This investment in critical housing-enabling infrastructure will support our efforts to grow and ensure we remain an attractive place to live, work and raise a family.”

The Ontario government is also helping to speed up the construction of new homes and infrastructure, including by streamlining development processes and reducing costs in close partnership with municipalities, through the Protect Ontario by Building Faster and Smarter Act, 2025.

From January to July 2025, Ontario saw 12,175 rental starts, an increase of 21 percent compared to the same period in 2024. This is the highest level of rental starts on record for this time of the year.

To help make way for more housing opportunities and support growing communities, the government is also giving municipalities more time to spend funds awarded through the Building Faster Fund, extending the deadline to 2028.