London city hall is considering offering cash incentives to builders for adding affordable units and to landlords converting offices to apartments. City staff suggest using a $74-million federal fund to provide increased incentives. The proposals include offering $45,000 for each affordable unit added and increasing grants for apartment units converted from offices to $35,000. The goal is to build 3,000 affordable units under the Roadmap to 3000 program. There would be no cap on the number of eligible affordable housing units for the grant.
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