The Province of New Brunswick and the Government of Canada jointly celebrated the inaugural ceremony of a new affordable housing project at Saint John. The new project is particularly targeted at families, individuals, senior-citizens and people with disabilities.
The housing project, which consists of 96 units is located at 181 Charlotte Street in Saint John has been developed by Abbey St Andrew. The project received a total of $6.5 million in federal funding of which $2.2 million covered construction costs and $4.3 million was in the form of rent supplements for 55 units from the Provincial government. Apart from this the developer Abbey St Andrew also received a grant of $10,000 and a $10,000 interest free loan from Seed Funding Programme of Canada Mortgage and Housing Corporation (CMHC).
This investment was part of the extension of the joint investment made for the Canada-New Brunswick Affordable Housing Initiative which was made in 2009. The Government of Canada plans to invest an additional $2 billion towards housing projects in 2012. From this amount, $1.7 billion will be used for supporting 615,000 households who are currently under social housing. The investments are helping Canadian citizens particularly disabled people, recent immigrants and Aboriginal people. The announcement regarding housing projects was made jointly by Rodney Weston, Member of Parliament for Saint John and Sue Stultz, New Brunswick Minister of Social Development and Minister Responsible for Housing.
Source: http://www.cmhc.ca