N.S., Ottawa spending $16.6 million on 236 affordable housing units across province
Global News
According to Rentals.ca, the average price of a one-bedroom apartment in Nova Scotia is $1,726. Eighty per cent of that is $1,380, which would be the maximum price point.
The Nova Scotia and federal governments are spending $16.6 million on 10 affordable housing projects across the province.
In a release, the Department of Municipal Affairs and Housing said the projects will create 236 new rental units, with “more than half” offered at rents at or below 80 per cent of the local market average.
According to Rentals.ca, the average price of a one-bedroom apartment in Nova Scotia is $1,726. Eighty per cent of that is $1,380.
It is unclear how the remainder of the “affordable” units will be priced and Global News has contacted the province for more details.
The province will provide $9.1 million through its Affordable Housing Development Program and the federal government will provide $7.5 million through the National Housing Co-Investment Fund and the Canada-Nova Scotia Bilateral Agreement, under the National Housing Strategy.
Here’s where the units will be located:
The release said the projects are part of the Affordable Housing Development Program, “through which the Department of Municipal Affairs and Housing partners with private developers and community housing groups to encourage and help fund the construction of new affordable housing.”
It said the program was recently improved to reduce the equity requirement for non-profit applicants from 20 per cent to five per cent, and to create a more streamlined process for developers.
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