SAINT JOHN, New Brunswick, May 23, 2006 —The Government of Canada and the Province of New Brunswick announced today a contribution of $3.3M for six new affordable housing projects in the Greater Saint John area.
Rob Moore, Member of Parliament for Fundy Royal, on behalf of the Honourable Diane Finley, Minister of Human Resources and Social Development, and the Honourable Madeleine Dubé, Minister of Family and Community Services, made the announcement today.
"Our investment in these projects demonstrates the Government of Canada's commitment to providing affordable housing to Canadians in need" said Moore.
The projects will receive a total of $1.5M in federal funding to offset the construction costs totalling $8.3M, as well as $1.8M in rent supplements from the Province of New Brunswick for 45 of the 79 units.
"These projects show the advantage of creating partnerships with non-profit organizations and private sector to help meet the need for affordable housing in New Brunswick," said Dubé.
The first project involves a 52-unit apartment complex for non-elderly singles to be built by Saint John Non-Profit Housing, of which 26 are rent supplements. It will be located at the corner of Leinster and Carmarthen Streets. The total cost will be $5,406,000 million.
The second project is a12-unit apartment building for families and non-elderly singles to be built by Canterbury Developments, of which 6 are rent supplements. It will be located on Somerset Street. The total cost for this project is $882,000.
The third project to receive affordable housing initiative funding is a 7-unit complex for seniors by River Valley Lions Seniors, of which 6 are rent supplements. It will be located at 27 Inglewood Drive in Grand Bay-Westfield. This project will cost $675,000.
The fourth project to receive affordable housing funding is a 4-unit apartment building for non-elderly singles to be built by Saint John Non-Profit Housing. It will be located in the south end of Saint John. The Carpenter's Training Centre will also participate in the construction of this building as well. The total construction cost will be $282,000.
The two other projects involve 2 units for non-elderly singles developed by City Centre Housing Co-operative Ltd. at 100 Elliott Row in Saint John, of which 1 unit will be subsidized, and 2 units for low income families developed by North End Family Housing Co-operative Ltd. at 87 — 89 Victoria Street.
The Canada — New Brunswick Affordable Housing Agreement involves investments of over $45 million in the creation of affordable housing units in New Brunswick.
To date, 539 new construction housing units have been announced in New Brunswick, involving 353 rent supplement units.
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Phase II of the Agreement increases the total investment under the Canada — New Brunswick Affordable Housing Program Agreement by $15.14 million in funding. The Government of New Brunswick will contribute at least 50 per cent of the matching funding; up to 10 per cent may come from municipalities and other third parties.