CanEquity Mortgage Canada
Canadian mortgage rates,
mortgage calculator & news.

Canadian Mortgage News

April 2008 National News Archive


Related Links:
National Archive
2008 Archive
January 2008
February 2008
March 2008
April 2008
May 2008
June 2008
July 2008
August 2008
September 2008
October 2008
November 2008
December 2008

CanEquity Mortgage News RSS 2.0 Feed

CanEquity Mortgage News Atom Feed

About RSS and Atom Feeds

Portable Document Format Printable Version Page d'accueil franšais

New Affordable Housing for Families in Saint John

SAINT JOHN, New Brunswick, April 21, 2008 — The Government of Canada and the Province of New Brunswick officially announced a new affordable housing project for low income families in Saint John today. Funded under the phase III of the Canada – New Brunswick Affordable Housing Agreement, the project will create 48 new units, of which 24 are affordable housing units.

The Honourable Mary Schryer, New Brunswick Minister of Social Development, along with Rob Moore, Member of Parliament for Fundy Royal, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development, made the announcement today.

"We are pleased to join our partners in this project to help increase the housing stock for low income families in the Saint John area," Schryer said. "The creation of more affordable housing is essential to our joint efforts to provide low income individuals opportunities to stay active within their community."

"The Government of Canada is committed to making quality, affordable housing available in New Brunswick and across Canada available for those who need it most," said MP Moore. "The creation of these units will provide low income families in Saint John with safe, quality housing at an affordable cost which will help them to build a better and stronger future."

The project, called Woodhollow Park Developments Ltd., is located at 10 Woodhollow Park, in Saint John. The project will receive $720,000 in federal funding to offset the construction costs, as well as $921,000 in rent supplements from the Province of New Brunswick for 24 units.

The objective of the Canada – New Brunswick Affordable Housing Agreement is to create and sustain rental housing for low- to moderate-income New Brunswick households through new construction or rehabilitation. Housing must be affordable for at least 10 years.

Funding is available to private non-profits, cooperatives, community or private developers interested in developing projects for low- to moderate-income families, seniors, non-elderly singles, disabled persons and persons with special needs.

Proponents can submit proposals to a regional office of the Department of Social Development. Projects will be selected based on their viability and their capacity to respond to housing needs for either seniors, low income families, non elderly singles, or persons with disabilities.

Proposal development funding is available for non-profit organizations to help them prepare and develop their project.

For further information, please contact:

Robert Duguay
Social Development

Patricia Montreuil
Communications and Marketing Consultant
Canada Mortgage and Housing Corporation

News source: Bank of Canada


Top of page