Tuesday, June 6, 2023
HomeMoneyFederal government pitches $14 million for housing affordability in New Brunswick

Federal government pitches $14 million for housing affordability in New Brunswick




The federal government has invested $14 million into projects in the Fredericton region aimed at creating better housing affordability.

$5 million will fund 25 homes earmarked for Newcomers, Indigenous peoples, Black Canadians, and women and children fleeing domestic violence. Those projects will go towards the John Howard Society of Fredericton and Mahsus Lane Development – Skigin Elnoog.

Additionally, Ahmed Hussen announced nearly $10 million for projects through another stream that will support units in First Nations communities. These include the Oromocto First Nation, St. Mary’s First Nation, Tobique First Nation, Metepenagiag Miꞌkmaq Nation, Eel Ground First Nation, and Elsipogtog First Nation.

During his press conference, the federal minister for housing would not comment on whether or not the province’s lack of a rent cap has had an impact on housing affordability in the capital city but did say that the federal government will continue to find ways to make rent more affordable.

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He said that part of the problem is a “lack of affordable units.”

“Part of the challenge is not just the rental rate,” Hussen said on Wednesday.

“There’s people who need support with rent, and there’s people (that rent homes) who would love to own their own home and access home ownership.”

Fredericton Mayor Kate Rogers told reporters that the city has a housing affordability crisis and that she’s hoping that Wednesday’s announcement will go towards that.

“It’s not a surprise to anyone in this room that Fredericton is in a housing crisis,” told Rogers.

“There is an urgency to make sure housing is available to everyone in this city.”

The capital city has one of the highest rent prices in the province, according to the Canadian Mortgage and Housing Corporation, with a vacancy rent near two per-cent.

The province will kick in $2.28 million worth of a 20-year rent supplement. Jill Green, the Minister of Housing for New Brunswick, said that the funding aligns with their housing strategy, which is set to be released in June.

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