Federal and provincial funding for affordable housing projects in Fredericton09 November 2022
FREDERICTON (GNB) – The federal and provincial governments are providing $560,000 through the Affordable Rental Housing Program to help create 14 new affordable housing units in Fredericton. The four housing projects receiving funding are targeting individuals experiencing homelessness and persons with disabilities.
“We are making more investments in the housing sector to ensure that appropriate options will be available in the future,” said Social Development Minister Dorothy Shepard. “We are pleased to receive support from the non-profit and private sectors to help respond to the housing needs of New Brunswickers.”
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 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.
The projects also involve rent supplements for the affordable housing units to ensure that tenants do not pay more than 30 per cent of their total household income in rent.
“Everyone deserves a safe and affordable place to call home,” said federal Housing and Diversity and Inclusion Minister Ahmed Hussen. “That is why our government is creating more affordable housing for those who need it most, right here in Fredericton. These new homes will have a positive impact on the lives of people facing homelessness and persons with disabilities. By investing in more affordable housing, we are helping more Canadians access affordable and quality homes in vibrant and welcoming communities. This is one of the many ways our government’s National Housing Strategy will ensure that no one is left behind.”
Christ Church Parish Church, a non-profit organization, received $160,000 to help in the construction of four housing units for non-elderly singles and persons with disabilities on Charlotte Street. All the units will receive rent supplement assistance.
Smythe Street Cathedral Inc., a non-profit organization, received $160,000 to help in the construction of four housing units for non-elderly singles and persons with disabilities on Jaffrey Street. All the units will receive rent supplement assistance.
Sherico Development Inc., a private developer, received $160,000 to help in the construction of a new apartment building on Hughes Street. Rent supplement assistance will be provided to four of the eight housing units, which will be intended for non-elderly singles.
MHM Property Management Ltd., a private developer, received $80,000 to help in the construction of an apartment building on George Street. Rent supplement assistance will be provided to two of the eight housing units, which will be intended for non-elderly singles and persons with disabilities.