Seniors in Mahone Bay will soon have access to more affordable housing with the construction of a 26-unit rental housing development, including three units that will be barrier-free.
Suzanne Lohnes-Croft, on behalf of Community Services Minister Joanne Bernard, and MP Bernadette Jordan, on behalf of Jean-Yves Duclos, Minister responsible for the Canada Mortgage and Housing Corporation, announced funding for the construction of the Brookside Apartments today, March 13.
“We’re pleased to support the creation of new affordable homes for seniors in Mahone Bay,” said Ms. Lohnes-Croft. “This investment will make a real difference in the lives of seniors who want to stay here in this vibrant community. This project shows what can be achieved when business and government partner to help Nova Scotians.”
“When people think about affordable housing, they sometimes think it is a problem unique to cities. Affordable housing is an issue I have heard about time and time again in conversations with constituents across our rural communities,” said Ms. Jordan. “Through investments in affordable housing our government is providing assistance to those who need it most here in Nova Scotia and in all corners of the country. These investments help create new jobs and stimulate the local economy, while providing access to safe, affordable homes for Canadian seniors.”
The rental units will be built with a $1.3 million investment from the Investment in Affordable Housing Agreement through the governments of Canada and Nova Scotia and will be constructed by private developer M.A.D.E. for Mahone Bay. The federal contribution is from a fund that is providing $8.6 million for the construction, repair and adaption of affordable housing for seniors during the next two years in Nova Scotia. The funding for this program is expected to create about 170 new units for seniors.
The provincial and federal governments are also investing nearly $375,000 to provide 13 rent supplements at Brookside Apartments available to support older adults with lower incomes.
“The demand for affordable housing in Mahone Bay and the surrounding area is high and we want to continue to do our part to help seniors who need it the most,” said Bob Youden, CEO, M.A.D.E. for Mahone Bay Ltd. “Our team is looking forward to starting construction on the Brookside Apartments project in the spring. I want to thank the Town of Mahone Bay, the Province of Nova Scotia and the federal government for their continued support for our community.”
The Brookside Apartments are the first affordable housing development to benefit from an increase in capital contributions for new rental housing projects. Developers in Nova Scotia can now access up to $50,000 per affordable unit, which is double the level of the previous available funding.