London exceeds housing targets for second consecutive year
The City of London announced in November that it has exceeded its federal housing targets for the second year in a row.
In its most recent update on Housing Accelerator Fund (HAF) initiatives – for the year spanning September 2024 to September 2025 – the city issued 4,284 building permits, surpassing its annual housing supply growth target of 3,991. The city says it remains on track to deliver more than 11,800 new housing units by 2026.
“Exceeding our HAF targets two years in a row reflects the strength of London’s partnerships and our shared focus on solutions,” said Mayor Josh Morgan. “Through innovation, collaboration, and determination, we’re creating the conditions for more homes to be built across our city and support affordability.”
Driving the construction of new residential units are a number of city-initiated actions, including zoning that permits higher-density housing without special approvals for higher-density development near rapid transit routes, partnerships with non-profit providers to build affordable housing options, and transit-oriented development grants that have supported more than 1,000 new homes near rapid transit.
Several office-to-residential conversions have transformed vacant downtown office space into more than 200 residential units, while infrastructure investments of just under $10 million are enabling the construction of up to 12,000 new homes in key growth areas.
Finally, the city’s Housing Needs Assessment has identified housing gaps and priorities across the continuum to guide future planning and policy.
“London is gaining real momentum,” said Scott Mathers, Deputy City Manager, Housing and Community Growth. “Through smarter investments and fewer barriers, we’re building housing faster and setting the stage for sustainable growth.”
Through the HAF, Canada Mortgage and Housing Corporation is providing up to $81.4 million to London between 2023 and 2027, distributed over four annual payments.
The city says it will continue to track housing activity and progress toward HAF targets.