Federal Government Invests in New Homes in New Brunswick
SAINT-QUENTIN, NB, Nov. 29, 2024 /CNW/ - The federal government is providing over $7.7 million to help build 39 new homes in New Brunswick. These homes are part of a broader federal initiative, adding to the 965 new homes already announced since 2021.
The announcement was made by René Arseneault, Member of Parliament for Madawaska—Restigouche.
The announcement took place at Habitations du Parc, 318 Martel Street, in Saint-Quentin, which received over $2.4 million from the Affordable Housing Fund to build 18 homes for independent seniors. The project will be operated by Les Entreprises MNM Inc. and is close to all essential services. Les Entreprise MNM Inc is contributing $490,845.
The second project, located in the Mi'kmaq community of Eel River 3, has received nearly $5.3 million through the Rapid Housing Initiative (RHI) for the construction of 21 three-bedroom family homes.
Quotes:
"The Government of Canada is committed to working with communities to meet the challenge of building more housing across New Brunswick. Through the Rapid Home Initiative and the Affordable Housing Fund, our government is increasing the supply of new housing by investing more than $7.7 million in the construction of 39 units, benefiting those who need it most." – René Arseneault, Member of Parliament for Madawaska—Restigouche on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
"We firmly believe that every individual deserves a roof over their head that is affordable, unifying and, above all, safe. With this in mind, we have created the Habitations du Parc project to meet the essential housing needs of our region. Thanks to CMHC's affordable housing program, our project aims to offer a quality living environment, accessible to all, while guaranteeing a secure setting for each resident." – Maggie Bossé, co-owner, Les Entreprises MNM Inc.
Quick Facts:
- Habitations du Parc, located at 318 Martel Street, received a contribution of $2,477,532 from the Affordable Housing Program.
- The second project, located in the Mi'kmaq community of Eel River 3, received a contribution of $5,298,720 from the Rapid Housing Initiative.
- The National Housing Strategy (NHS) is a 10+ year, $115+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives is updated quarterly at www.placetocallhome.ca. The Housing Funding Initiatives Map shows affordable housing projects that have been developed.
- As of September 2024, the federal government has committed $57.57 billion to support the creation of over 156,000 units and the repair of over 297,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.
- The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partner organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. This is a $14.6 billion program under the National Housing Strategy (NHS) that gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous Peoples, people living with disabilities, those with mental health or addiction issues, Veterans, and young adults.
- As of September 2024, the Government of Canada has committed $10.34 billion to support the creation of over 40,000 units and the repair of over 166,000 units through the Affordable Housing Fund.
- Budget 2024 announced enhancements to the AHF which includes the program being extended from 2025-26 to 2028-2029. The existing New Construction Stream is now divided into two dedicated sub-streams: a Rapid Housing Sub-Stream for the creation of shelters, supportive and transitional housing for those in greatest need, and a dedicated Community Housing Sub-Stream to support affordable and mixed-market housing where there are both affordable and market rent units in a project. The Repair and Renewal Stream has replaced minimum requirements with an approach where projects supporting accessibility and energy efficiency will be prioritized. Applications including these enhancements opened on November 22.
- The Rapid Housing Initiative (RHI) is delivered through the Canada Mortgage and Housing Corporation (CMHC) under the NHS. It provides funding to facilitate the rapid construction of new housing and the acquisition of existing buildings for the purpose of rehabilitation or conversion to permanent affordable housing units. With its third phase, launched in 2022, the Rapid Housing Initiative once again exceeded targets. It is expected that with this phase over 5,200 new homes will be created, of which almost half will be for women and one third will be for Indigenous Peoples. The total number of units created with the support of Rapid Housing Initiative is expected to be over 16,000 units. The program is now closed.
- The RHI takes a human rights-based approach to housing, serving people experiencing or at risk of homelessness and other vulnerable people, including women and children fleeing domestic violence, seniors, young adults, Indigenous Peoples, people with disabilities, people experiencing mental health and addiction issues, Veterans, 2SLGBTQI+ individuals, racialized groups, and recent immigrants or refugees.
Additional Information:
- Visit Canada.ca/housing for the most requested Government of Canada housing information.
- CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC's aim is that everyone in Canada has a home they can afford and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
- To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.
SOURCE Canada Mortgage and Housing Corporation (CMHC)