N.S., Ottawa spending $16.6 million on 236 affordable housing units across province – Halifax | 24CA News
The Nova Scotia and federal governments are spending $16.6 million on 10 reasonably priced housing initiatives throughout the province.
In a launch, the Department of Municipal Affairs and Housing mentioned the initiatives will create 236 new rental models, with “more than half” provided at rents at or under 80 per cent of the native market common.
According to Rentals.ca, the typical value of a one-bedroom residence in Nova Scotia is $1,726. Eighty per cent of that’s $1,380.
It is unclear how the rest of the “affordable” models will likely be priced and Global News has contacted the province for extra particulars.
The province will present $9.1 million by way of its Affordable Housing Development Program and the federal authorities will present $7.5 million by way of the National Housing Co-Investment Fund and the Canada-Nova Scotia Bilateral Agreement, underneath the National Housing Strategy.
Here’s the place the models will likely be positioned:
- Stephen Jamael Property Rentals Inc, Sydney: $3.8 million for 36 models (2 initiatives);
- Future Growth Co-op Ltd., Sydney Mines: $3.9 million for 22 models;
- Atlantic Edge Properties Inc., Guysborough – $1.35 million for 36 models;
- Tata Holdings Inc., Tatamagouche: $1.2 million for 21 models;
- Meech Holdings Ltd., Truro: $3 million for 56 models;
- Six Point Star Homes Ltd., Amherst: $680,000 for eight models;
- Innovare Properties and Developments Ltd., Westville: $1.25 million for 28 models;
- S.W.H Construction Ltd.,Shelburne: $350,000 for 5 models;
- Grand Multip Properties Inc., Barrington: $900,000 for twenty-four models.
The launch mentioned the initiatives are a 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 mentioned this system was lately improved to scale back the fairness requirement for non-profit candidates from 20 per cent to 5 per cent, and to create a extra streamlined course of for builders.
