MONCTON, NB, May 24, 2019 /CNW/ - The first action plan in a 10-year federal-provincial housing agreement will invest more than $62 million into the repair, renovation and creation of affordable rental units over the next three years.
Cost-matched funding through the New Brunswick Priorities Housing Initiative and the Canada Community Housing Initiative will see annual investments of almost $9.9 million, almost $10 million and more than $11.6 million respectively from each level of government beginning in the current fiscal year.
As part of the $62 million investment, a total of $6.8 million will create an additional 151 affordable rental units in the private, public and non-profit sectors. Another $26 million will be allocated for the repair and renovation of more than 5,100 affordable rental units across the province.
The Honourable Ginette Petitpas Taylor, Minister of Health and Member of Parliament for Moncton?Riverview?Dieppe, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), along with the Honourable Dorothy Shephard, Minister of Social Development, made the announcement today.
"Safe, adequate and affordable housing is crucial in helping Canadians achieve their goals?from raising healthy children to pursuing education, jobs and opportunity. This 3-year plan is the National Housing Strategy in action. It is the first step in setting down a roadmap to more affordable, safe, and secure housing for families and individuals of New Brunswick." ? Honourable Ginette Petitpas Taylor, Minister of Health and Member of Parliament for Moncton?Riverview?Dieppe
"This action plan will provide New Brunswickers with timely access to affordable housing that meets their needs. It recognizes the right to suitable housing in healthy, diverse communities and empowers individuals and families to reach their full potential." ? Honourable Dorothy Shephard, Minister of Social Development
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. 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, visit www.placetocallhome.ca.
SOURCE Canada Mortgage and Housing Corporation
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