Canadian Mortgage News

January 2007 National News Archive

Affordable Housing Units for Saint-Léonard

SAINT-LÉONARD, New Brunswick, July 24, 2007 — The construction of a new affordable housing facility for seniors in Saint-Léonard under the Canada – New Brunswick Affordable Housing Agreement was officially launched today.

The Honourable Mary Schryer, New Brunswick Minister of State for Housing and representatives of the federal government launched the construction project at a sod-turning ceremony today.

“Canada’s New Government supports the creation of affordable housing in New Brunswick,” said the Honourable Greg Thompson, Minister of Veterans Affairs, on behalf of the Honourable Monte Solberg, Minister of Human Resources and Social Development. “This project will give seniors in Saint-Léonard more access to affordable and accessible housing that meets their specific needs.”

“We are pleased to join our partners to commence this exciting new development that will help improve the quality of life for seniors,” said Minister Schryer. “The creation of these units will allow seniors to remain close to their families and friends and remain active in their local community.”

The project will receive $200,000 in federal funding to offset construction costs, as well as $320,000 in rent supplements from the Province of New Brunswick for eight units.

The new housing complex for seniors will be built adjacent to the Foyer Notre Dame de Saint-Léonard Inc. nursing home. It will include eight one-bedroom units and two two-bedroom units. Two units will be adapted for disabled persons. The new facility will also have a common room, laundry room and storage rooms.

The Canada – New Brunswick Affordable Housing Agreement involves investments of over $45 million in the creation of affordable housing units in New Brunswick.

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Backgrounder

Canada – New Brunswick Affordable Housing Agreement

Phase I

Objectives:

• 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.

Program:

• Funding under this agreement will be used for a Rental Housing Program.
• The program will create and sustain in excess of 600 units of rental housing for low- to moderate-income households.
• 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.

Administration:

• The program will be administered by the New Brunswick Department of Family and Community Services.
• Family and Community Services is responsible for the selection of affordable housing projects.

Financial Provisions:

• Maximum CMHC funding under the agreement is $14.98 million to be matched by the Province of New Brunswick for a total of $29.96 million.
• Overall average CMHC funding will not exceed $25,000 per unit.
• Province of New Brunswick will provide rent supplements for low- to moderate-income households who occupy their housing.

Phase II

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.

Under Phase II, funding will be:

• used for the Rental Housing Program in Phase I plus a new rent supplement program;
• targeted to urban areas with considerable housing needs; and
• targeted to persons on or eligible to be on a waiting list for social housing.

News source: Canada Mortgage and Housing Corporation (CMHC)