SAINT JOHN, New Brunswick, October 11, 2007 — Canada’s New Government and the Province of New Brunswick officially opened an affordable housing project in Saint John today, funded under the Canada – New Brunswick Affordable Housing Agreement. The project created 33 new affordable housing units for seniors and persons with disabilities.
Rob Moore, Member of Parliament for Fundy Royal, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development, along with the Honourable Mary Schryer, New Brunswick Minister of State for Housing, celebrated the project opening today.
“Canada’s New Government is delivering on our commitment to create affordable housing in New Brunswick and across Canada for those who need it the most,” said MP Moore. “This project will give seniors and persons with disabilities in Saint John the opportunity to stay in their community close to family and friends and receive the care and support they need.”
“Providing appropriate housing to seniors and persons with disabilities is more than just providing a roof, it is providing a better environment so they can continue being active and contribute to their respective communities,” said Minister Schryer.
The project called Fundy Harbour Estates is located at 35 Charlotte Street in Saint John and received a total of $825,000 in federal funding to offset the construction costs, as well as $1,200,000 in rent supplements from the Province of New Brunswick for all 33 units.
Recently announced, Phase III of the Agreement will see the investment of another $40 million to create at least 754 new housing units in New Brunswick over the next two years. The Federal Housing Trust Fund contributes $17 million will be allocated to project promoters as forgivable loans to offset construction costs. The province will provide $23 million in long-term rent supplements to ensure that 580 of the 754 new housing units will be kept affordable.
Phase I and II of the Canada – New Brunswick Affordable Housing Agreement involved investments of over $45 million to create and sustain up to 700 units of rental housing for low-to-moderate income households in New Brunswick over the last three years.
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Phase II of the Agreement increased the total investment under the Canada – New Brunswick Affordable Housing Program Agreement to $45 million in funding. The Government of New Brunswick contributed at least 50 per cent of the matching funding; up to 10 per cent may come from municipalities and other third parties.
Under Phase II, funding:
Through Phase III of the Agreement, the Federal government, through the recently announced Housing Trust, and the province of New Brunswick are committing over $40 million to create at least 754 new housing units over the next two years.
The funding is available for private entrepreneurs and non-profit organizations to help increase the supply of affordable rental housing for low income seniors, families and non-elderly singles. Of the 754 housing units to be created, 580 will be subsidized and 10 per cent are to be accessible for persons with disabilities.
Proposal development funding is also available for non-profit organizations to help them prepare and develop their project.
Proponents can submit proposals to a regional office of the Department of Family and Community Services. Projects will be selected based on their viability and their capacity to respond to housing needs for seniors, low income families, non elderly singles, or persons with disabilities.