Investments Will Increase Access to Affordable Housing

More Nova Scotians will move from wait lists into safe, affordable housing with a $52-million investment in rental supplements, co-ops, seniors housing and upgrades to public housing, Premier Stephen McNeil announced today, Oct. 28.

“These investments will help more Nova Scotians find a good home that they can afford,” said Premier McNeil. “By preserving existing public housing, investing in new projects, and using innovative approaches such as rent supplements, we will help more people find a place to call home.”

The investment will use $42 million of unspent federal housing contributions, $10 million in provincial funding and innovative public-private partnerships to increase affordable housing options.

The province is investing $4.7 million in rental supplements, which private landlords will augment at 50 cents for every dollar. This will create 300 units of affordable housing throughout the province.

“We are pleased to see this program expanded so more families can find homes,” said Mark Bergman of the Investment Property Owners of Nova Scotia. “Landlords are proud to be equal partners in this program, bringing reduced rent, matching dollars and other innovative solutions to work with government and help families find safe, affordable homes.”

Other investments include $4 million to improve public housing, $8 million for co-operative housing, $5 million toward seniors’ housing and $15 million for capital projects.

“This plan will allow Housing Nova Scotia to make the best use of available funds to help as many people as possible access safe and affordable housing,” said Minister responsible for Housing Nova Scotia Joanne Bernard. “This will address waiting lists almost immediately, while also building housing capacity over time.”

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Source: Release

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