MONCTON,
NB, July 26, 2024 /CNW/ - Today, the
federal government announced more than $9.5
million in contributions and low-cost loans through the
Affordable Housing Fund (AHF) to help build and repair of 406
affordable homes in Moncton and
across New Brunswick.
The announcement was made by The Honourable Ginette Petitpas
Taylor, Minister of Veterans Affairs and Associate Minister of
National Defence, and Member of Parliament for Moncton—Riverview,
on behalf of the Honourable Sean Fraser, Minister of Housing,
Infrastructure and Communities.
It took place at the site of the Cornerstone Co-op Ltd. repairs
project, located at 162 Preston Street in Moncton, which received $3.47 million through the AHF. The organisation
is nearing completion of the renewal of 107 townhomes, including
energy efficiency updates and providing key updates to accommodate
priority groups like women and children.
A detailed list of projects that received funding is provided in
an appendix to this release.
Quotes:
"Everyone deserves a place to call their own and the Affordable
Housing Fund is one way we're helping make that a reality for
Canadians. We will keep investing in affordable housing projects
like the ones announced today, and we will continue to keep working
with partners across the country to end the housing crisis once and
for all." – The Honourable Sean Fraser, Minister of
Housing, Infrastructure and Communities
"Today's announcement is yet another step towards ensuring that
all New Brunswickers have a place to call home. This initiative is
essential to meeting the growing need for housing and creating safe
and affordable environments where everyone can thrive. By investing
in housing, we strengthen our communities and ensure a bright
future for generations to come." – The Honourable
Ginette Petitpas Taylor, Minister of Veterans Affairs and
Associate Minister of National Defence
Quick facts:
- The federal funding announced today is helping create a total
of 21 new homes and is leading to the repairs of 385 homes.
- The Affordable Housing Fund (AHF) provides funding
through low-interest and/or forgivable loans or contributions to
help build new affordable homes and renovate and repair existing,
affordable and community housing.
- Through the 2023 Fall Economic Statement, the government
announced an additional $1 billion
for the Affordable Housing Fund, bringing the total funding to over
$14 billion. To further support
non-profit, co-operative, and public housing providers and respond
to the needs of those most impacted by the housing crisis, Budget
2024 committed an additional $1
billion to the fund.
- This program under the National Housing Strategy (NHS) gives
priority to projects that help people who need it most, including
women and children fleeing family violence, seniors, Indigenous
peoples, people living with disabilities, those with mental health
or addiction issues, veterans, and young adults.
- As of March 2024, the federal
government has committed $50.97
billion through the NHS to support the creation of over
146,000 units and the repair of over 286,000 units.
- To support the Government's work to grow housing supply and
address the need for more affordable and rental homes, CMHC is
implementing the Frequent Builder framework.
- The Frequent Builder framework will help expedite applications
for the Affordable Housing Fund and the Apartment Construction Loan
Program. The Frequent Builder status is given to existing
housing providers with a proven track record of building
multi-residential units. Different criteria apply to Governments,
non-profit and for-profit organizations to qualify for Frequent
Builder status.
- Frequent Builders may receive benefits such as priority
treatment, a streamlined process through intake, underwriting and
approval stages, underwriting and advancing flexibilities, as well
as the possibility of funding commitments for future years which
will allow funding predictability and better planning for their
pipeline of projects.
Additional Information:
- Visit Canada.ca/housing for the most requested Government of
Canada housing information.
- 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 everyone in Canada has a
home they can afford and that meets their needs. For more
information, follow us on Twitter, Instagram, YouTube, LinkedIn and
Facebook.
- To find out more about the National Housing Strategy, please
visit www.placetocallhome.ca.
Appendix: Projects receiving funding under AHF
Project
Name
|
Region/City
|
Funding
|
Units
|
Buctouche MicMac
Repair
|
Buctouche 16
|
$75,000
|
5
|
ESAH Phase 2
|
Miramichi
|
$2,335,941
|
21
|
Rénovation Maison
Nazareth
|
Moncton
|
$34,162
|
30
|
Cornerstone Co-op Ltd.
-
Renovations
|
Moncton
|
$3,466,028
|
107
|
Fort Folly
Repairs
|
Fort Folly 1
|
$45,000
|
3
|
Residence Ste-Therese
retrofit
|
Dieppe
|
$720,000
|
36
|
Buctouche MicMac
Band
Repairs 2
|
Buctouche 16
|
$75,000
|
5
|
Fort Folly First Nation
Repairs
2
|
Dorchester
|
$75,000
|
5
|
Natoaganeg
Repair
|
Eel Ground 2
|
$150,000
|
10
|
Eel River Bar First
Nation
Repairs 2
|
Eel River 3
|
$150,000
|
10
|
Eel River Bar First
Nation
Repairs
|
Eel River 3
|
$225,000
|
15
|
Esgenoopetitj First
Nation
Repairs 2
|
Esgenoôpetitj
14
|
$150,000
|
10
|
Esgenoopetitj First
Nation
Repairs
|
Esgenoôpetitj
14
|
$450,000
|
30
|
St. Mary's First Nation
Repairs
2
|
Fredericton
|
$150,000
|
10
|
Skigin Elnoog
Housing
Corporation of N.B. Inc.
Repairs
|
Fredericton
|
$420,000
|
42
|
Indian Island First
Nation
Repairs 2
|
Indian Island
28
|
$150,000
|
10
|
Pabineau First Nation
Repairs
2
|
Pabineau 11
|
$210,000
|
14
|
Pabineau
Repairs
|
Pabineau 11
|
$75,000
|
5
|
Metepenagiag Mi'kmaq
Nation
Repairs
|
Red Bank 4
|
$45,000
|
3
|
Elsipogtog First Nation
Repairs
|
Richibucto
15
|
$130,000
|
10
|
Madawaska Maliseet
First
Nation Repairs
|
St. Basile
10
|
$165,000
|
11
|
Woodstock
Repairs
|
Woodstock 23
|
$210,000
|
14
|
Total
|
$9,506,131
|
406
|
SOURCE Canada Mortgage and Housing Corporation (CMHC)