Federal and provincial investment of $10.5 million in affordable housing projects in Moncton13 January 2023
MONCTON (GNB) – The federal and provincial governments are investing more than $10.5 million to create and renovate affordable housing units in the greater Moncton region. The four projects target individuals facing homelessness, as well as low-income seniors and families.
“The development of affordable housing projects is important for all regions of the province,” said Social Development Minister Dorothy Shepard. “We are happy to announce additional investments to help make more affordable housing options available.”
“Everyone in Canada deserves a safe and affordable place to call home,” said federal Housing and Diversity and Inclusion Minister Ahmed Hussen. “This is why we are proud to be creating and renovating more than 200 units of affordable housing for those who need it most. Today's announcement is a step forward in our ongoing efforts to deliver meaningful results and increased affordability for Canadians, including those living right here in Moncton and Dieppe. This is just one way our government’s National Housing Strategy is ensuring no one is left behind.”
One project, the Community Hub on Joyce at 140 Joyce Ave. in Moncton, is a newly constructed building providing 20 affordable housing units to single men who face barriers due to such challenges as: mental health, addictions, homelessness, physical disabilities, or prior involvement with legal or correctional systems. The project received $7.1 million in funding from the federal and provincial governments and is operated by the John Howard Society of Southeastern New Brunswick.
Downtown City Housing Inc. received $2.4 million from the federal and provincial governments for renovation work on their 47-unit affordable housing project for seniors at 85 Foundry St. in Moncton.
Cornerstone Co-operative Housing Ltd., which has 109 housing units in Moncton, received just under $800,000 from the federal and provincial governments for roof, window and door renovations.
Dieppe Housing Co-op Ltd. received just under $200,000 from the federal and provincial governments for renovation work and updates at their 25-unit affordable housing project for families on Doucet Court in Dieppe.
The Affordable Rental Housing Program provides financial assistance to private entrepreneurs, private non-profit corporations (includes off-reserve Indigenous population), and co-operatives for the construction, repair, and conversion of rental housing projects. Assistance is in the form of a forgivable loan and is based on the cost of eligible work and the number of eligible self-contained units or bed units within a project.