Dundas St. in the downtown core will soon be home to a 30-unit affordable housing complex.
The London Community Foundation is lending the owners of 228-230 Dundas St. $500,000 to renovate the heritage building in an effort to reduce the wait list for affordable housing in the city.
According to the foundation, in 2013 there was a one-and-a-half- year waiting list for those seeking geared income housing.
"A mom with kids surfing around the city in different places can't put down roots. Your children can't be in a school that they're in all the time. It's making stability possible," says President and CEO of the London Community Foundation Martha Powell. "We wish it was bigger, we're not going to change our focus, we're going to keep this going....Poverty isn't getting better right now."
The ground floor of the units will be operated as a bar or restaurant, the space was formerly occupied by the Honest Lawyer and Downtown Kathy Brown's.
Construction is set to begin this spring.
The owners have two years to start paying back the loan.