Federal and provincial investment of $2.69 million in affordable housing projects in northeast New Brunswick

BERTRAND, NB, May 25, 2022 /CNW/ – Everyone in Canada deserves a safe and affordable place to call home. The COVID-19 crisis has made it clear that affordable housing is key to Canada’s recovery, including in New Brunswick.

Canada Mortgage and Housing Corporation (CMHC) (CNW Group/Government of Canada)

Today, Serge Cormier, Member of Parliament for Acadie-Bathurst, on behalf of the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion and the Honourable Bruce Fitch, New Brunswick Minister of Social Development announced details of a $2.69 million investment by both the federal and provincial governments in four projects that will provide housing to vulnerable individuals in the area. Together, 56 affordable housing units in northeast New Brunswick will be created or renovated.

$1.6 million of the total funding is being invested through the Canada-New Brunswick Bilateral Agreement for the following affordable housing projects:

Les Résidences Léonce-Marsoliau de Bertrand Inc. – renovation of 10 existing units and addition of
5 new affordable housing units for seniors and persons with disabilities – $530,000
Habitat Caraquet 201 Inc. – renovation of 12 affordable housing units for seniors – $322,000
Coopérative d’habitation Oasis Ltée in Tracadie – renovation of 23 affordable housing units for families – $525,000
Résidences Habitat Soleil Résidences Inc. – construction of 6 new affordable housing units for seniors and persons with disabilities – $240,000

Les Résidences Léonce-Marsoliau de Bertrand Inc also received a $1.09 million federal investment through the National Housing Co-investment Fund (NHCF). This funding supported the construction of the 5 new units dedicated to seniors. The units are also eligible to receive provincial rental supplements.

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, rehabilitation, 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. Information on the program is available online.

Quotes:

“Everyone in Canada deserves a safe and affordable place to call home, and today’s projects in New-Brunswick are bringing us one step closer to our goal. Through our partnership with provinces and territories, and our National Housing Strategy, we will ensure that no one is left behind.” – The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

“These projects are yet another example of what can be achieved when we work together. Through this collaboration, our government is helping to ensure that the most vulnerable members of our community have safe and affordable housing that allows them to thrive.” – Serge Cormier, Member of Parliament for Acadie-Bathurst

“We are pleased to support New Brunswick non-profit organizations in the development new affordable housing projects in the different regions of the province. These non-profit organizations are playing a crucial role in our dedicated efforts to respond to the needs of New Brunswickers.” – The Honourable Bruce Fitch Minister of Social Development, Province of New Brunswick

Quick facts:

Signed in 2018, the federal-provincial bilateral agreement under the NHS is a cost-shared a $299.2 million investment to protect, renew and expand social and community housing, and support New Brunswick’s priorities related to housing repair, construction, and affordability.
Canada’s National Housing Strategy (NHS) is a 10-year, $72 billion plan that will give more Canadians a place to call home.
The National Housing Co-investment Fund (NHCF) program is delivered by CMHC under the NHS.
With a budget of $13.2 billion, the NHCF gives priority to projects that help those in greatest need, including women and children fleeing family violence, seniors, Indigenous Peoples, people with disabilities, those dealing with mental health and addiction issues, veterans, and young adults.
Through the NHCF, the Government of Canada will work with partners to build up to 60,000 new affordable homes and repair up to 240,000 existing affordable and community homes.

Related links:

As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that by 2030, everyone in Canada has a home they can afford and that meets their needs. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.
Information on the Affordable Rental Housing program is available online. https://www2.gnb.ca/content/gnb/en/services/services_renderer.8675.Affordable_Rental_Housing_Program.html