FREDERICTON, New Brunswick, October 11, 2007 — Canada’s New Government and the Province of New Brunswick officially opened an affordable housing project in Fredericton today, funded under the Canada – New Brunswick Affordable Housing Agreement. The project created 19 new affordable housing units for seniors.
Mike Allen, Member of Parliament for Tobique – Mactaquac, 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 and Seniors, 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 Allen. “This project will give seniors in Fredericton access to the housing they need and the opportunity to stay in their community close to family and friends.”
“Secure and affordable housing helps seniors stay active in their communities,” said Minister Schryer. “We are pleased to join our partners in this great project to see more affordable housing being created for the benefit of the seniors in Fredericton and the area.”
The project, called York Developments, is located at 116 Sunset Drive. It received a total of $665,000 in federal funding to offset the construction costs, as well as $717,000 in rent supplements from the Province of New Brunswick for 19 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.
For further information, please contact:
Robert Duguay
Communications
Family and Community Services
506-444-3684
Giselle Thibault
Marketing and Communications Consultant
Canada Mortgage and Housing Corporation
902-426-8320
Phase I
Objectives:
Program:
Administration:
Phase II
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:
Phase III
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 either seniors, low income families, non elderly singles, or persons with disabilities.