Affordable Housing Commonly Asked Questions
Last update - Nov.25, 2024
You will receive a tax receipt in the mail. If you haven’t received one 3 months after donation, you can email ssvpaffordablehousing@gmail.com or call Penny at 519-930-8676.
The rents offered will be 70 to 80% of market rents which serves some members of our community. The city may work with some others that are eligible for geared to income program.
Please email ssvpaffordablehousing@gmail.com to get on the list.
Affordable means that the monthly rental costs are below market rents. This project is targeting those who have a limited source of income and face high housing costs along with the shortage of units that are affordable long term.
For quarterly updates, please refer to the Newsletter, found at Newsletter | Society of Saint Vincent for current updates.
We appreciate there are significant number of people looking for housing. Our goal is to help those with the greatest need for safe and affordable homes. In the London community the most vulnerable groups identified are senior women, newcomers and the working poor. The building will contain one and two-bedroom units with 17 accessible units.
This project is for anyone regardless of religion. SSVP is a charitable organization and is an important community leader is supporting people with financial difficulties or living in poverty.
There will be a financial criterion such as income less $34,500. Working with the city with some applicants, we will assess potential candidates for suitability for this project. We will have a property manager who will review applications received.
The plan is to provide stable housing and the promise of a place to call home for tenants. No mental health or addiction services are built into the affordable housing plan.
The project is looking to be shovel ready by spring of 2025 and expect to be completed in 2026. For regular updates, please refer to the quarterly newsletters.
The property manager will be Arnsby Property Management.
The total project costs are projected to be about $26 million.
We will be receiving government funding from all three levels of government. In addition to the donations, we will or have received from many generous individuals, corporations, service groups, foundations and faith group donors, a mortgage will also be taken out which will be paid down with income received from the tenants.
Our target is $5,000,000 in 5 years, with $1,500,000 as our target for our first building to be shovel ready.