FEDERAL GOVERNMENT HELPING BUILD NEW HOMES ACROSS SAINT JOHN

SAINT JOHN, NB, Dec. 13, 2024 /CNW/ - Today, the federal government announced over $18.1 million to build 56 new homes in Saint John. This investment is part of the federal government's broader commitment through the Affordable Housing Fund (AHF) which includes previously announced investments to build and repair over 905 homes in New Brunswick since 2021.

The announcement was made by the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs and Wayne Long, Member of Parliament for Saint John-Rothesay alongside the Honourable David Hickey, New Brunswick Minister responsible for the New Brunswick Housing Corporation, Gerry Lowe, Councillor for the City of Saint John at the Steepleview Development.

The Steepleview Development, located at 35 Cliff Street, will have half of the 56 units being rented as affordable housing. The affordable units will be allocated to seniors, women and children, and Indigenous Peoples.

Funding for this project is as follows:

• $18,144,908 through the National Housing Strategy's Affordable Housing Fund
• $68,100 in SEED funding
• $2,264,000 in contributions plus rent supplements from the Province of New Brunswick
• $498,000 through the Province of New Brunswick's Regional Development Corporation f
• $630,000 through capital contributions from the Province of New Brunswick
• $260,000 in contributions from the City of Saint John
• $840,000 in land equity from the Diocese of Saint John
• $250,000 in contributions from the Knights of Columbus – Council 937

Quotes:  

"More people than ever are choosing to settle in Atlantic Canada. The investment announced through the Affordable Housing Fund today will help build more strong, diverse and resilient communities, where everyone has the opportunity to live in a home that meets their needs." — The Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs

"Today's announcement marks an important step in ensuring that all Atlantic Canadians have a safe and affordable place to call home. Saint John is growing, and today's announcement will help build much-needed affordable housing in our community." — Wayne Long, Member of Parliament for Saint John-Rothesay 

"Now more than ever, we know New Brunswickers urgently need safe, affordable, and sustainable housing. Without stable housing, everything else becomes much more challenging. Having a safe and stable place to call home is essential to leading a productive life, and I am so pleased to see this project come to fruition. My team, along with our partners, will continue this important work to ensure all New Brunswickers have that safe and secure place to call home."  —Honourable David Hickey, Minister responsible for the New Brunswick Housing Corporation

"The City of Saint John remains committed to collaborating with all levels of government and community partners to address the pressing issue of affordable housing. The inclusion of affordable units within the Steepleview Development exemplifies these shared values and efforts. We are delighted with the significant investments announced today. Together, we will continue to explore innovative solutions to support our community and ensure Saint John remains a city where everyone has the opportunity to grow and thrive." — Donna Noade Reardon, Mayor, City of Saint John

Quick facts:  

• Through the Affordable Housing Fund (AHF), Steepleview Developments received $3,640,000 as a forgivable loan and $14,504,908 in a repayable loan.
• The 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.

Related links:  

• Visit canada.ca/housing for the most requested Government of Canada housing information.  
• As Canada's authority on housing, 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, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.  
• Progress on programs and initiatives are updated quarterly at www.placetocallhome.ca. The Housing Funding Initiatives Map shows affordable housing projects that have been developed.  

SOURCE Government of Canada

Contacts: Sofia Ouslis, Office of the Minister of Housing, Infrastructure and Communities, [e-mail]; Media Relations, Canada Mortgage and Housing Corporation, [e-mail]