Trudeau announces $74M to help build 2,000 new homes in London, Ontario

Canada's Trudeau government has begun building new homes in a deal with municipalities under the Housing Accelerator Fund to address the housing shortage crisis.

Prime Minister Justin Trudeau announced Wednesday $74 million to help build 2,000 new homes in London, Ontario.

The City of London has become the first city in Canada to reach an agreement with the federal government under the Housing Accelerator Fund.

Under this deal, 2,000 new houses will be built in the city over three years.

According to the Liberal government, the goal of the Housing Accelerator Fund is to build 100,000 housing units in the country.

Prime Minister Justin Trudeau arrived in London City to attend a party meeting.

It may be noted that the Liberals announced the Housing Accelerator Fund during the election campaign in 2021 and presented it in the 2022 federal budget, while it was officially launched in March this year.

The government says that agreements will be made with other municipalities in the country like London.

London Mayor Josh Morgan said that he wants this agreement on the issue of housing construction to set an example for the rest of the country.

It is worth mentioning that the pressure on the Trudeau government regarding the housing crisis has increased a lot in the last few months.

The Canada Mortgage and Housing Corporation says in a new report that 3.5 million additional homes will need to be built by 2030 to reach 2004 levels of affordability.

Prime Minister Justin Trudeau made this announcement at a time when construction sites are already struggling with labor shortage.