In the midst of the housing crisis, Rezidenza Affordable Housing is once again announcing dozens of new homes in London.
At an event on Thursday, they outlined big donations for Rezidenza Victoria at 88 Colborne Street near Hill Street - the non-profit group's third building.
"When people come up to you and say 'thank you, if it wasn't for you and that building I'd have no place to live, that's what the payoff is for us," said Rezidenza President Roger Caranci.
The building will have 184 units. Thirty per cent of them will be classified as affordable housing, while another four units will be deeply affordable housing.
Construction will begin late this summer or early this fall and is expected to be completed in 2027.
There will be two buildings connected by a podium. One will be five stories and the one will be 11 stories.
"Londoners should feel really good that you've got community-minded people and businesses who have donated the funds (for the building)," Caranci said. "To see this type of thing happen, it's hard to fathom it would have happened, but it has."
Among the donors are Nicholson Sheffield Architects, London North Rotary, Southside Group and Palumbo Homes.
Sil Palumbo, the founder of Palumbo homes, and his wife Tina, donated $100,000 to the building.
The board decided to name part of the building "The Sil and Tina Palumbo and Family Tower" in honour of Sil's work on the board and the donation.
"It was a great surprise. My father was overwhelmed," said Sil and Tina's son Lorenzo Palumbo. "My parents wanted to do this to give back. London has been a great city for them and all of their kids."
He also acknowledged a theme at the event that representatives from all levels of government mentioned.
"There's a housing problem, we're trying to help," Palumbo added.
London North Centre MP Peter Fragiskatos, Elgin-Middlesex-London MPP Rob Flack, and London Deputy Mayor Shawn Lewis were all on hand for the announcement.
"Before I was even elected, I worked a little with Residenza Affordable Housing, so I know they have become an important partner in providing affordable housing in London," Lewis said. "Today's generous donations to this project underscores again how the housing supply issue needs everyone contributing, all governments, our non-profits, and the private sector."
The land is in a key development area for the city - directly across Colborne Street from the old Victoria Hospital lands.
"It is so exciting to see the SoHo Alliance projects turning from a vision into reality as the first buildings are rising into the skyline and Residenza's Palumbo Family tower will be a part of that," Lewis added. "With the Medallion private sector towers and commercial space development for shops, green space for parks, access to rapid transit service, we really are turning vacant land into a whole new neighbourhood in the heart of the city."
The group runs two other buildings - Residenza Italia and Residenza Ortona - both on Hamilton Road. They have a combined 112 units.
