Federal government supports the creation of affordable housing for seniors in Moncton

MONCTON, NB, July 31, 2026 /CNW/ -- Far too many people in Canada are struggling to find homes that they can afford. Solving Canada's housing crisis requires immediate action to bring down costs, cut red tape, and build homes more quickly. The Government of Canada is stepping up with a bold new approach to build affordable housing across the country. We are focused on creating neighbourhoods where Canadians want to live and can afford to live.

Central to that work, the Government of Canada launched Build Canada Homes, which helps increase the pace of affordable homebuilding. Build Canada Homes also helps fight homelessness by building transitional and supportive housing--working with provinces, territories, municipalities and Indigenous communities. It builds deeply affordable housing and community housing for low-income households and it partners with private market developers to build affordable homes for the Canadian middle class.

As part of the Government of Canada's overall efforts to tackle the housing crisis, investments are made across the entire housing continuum to meet the needs of communities nationwide.

Today, the governments of Canada and New Brunswick, along with the City of Moncton, have announced more than $9.5 million in combined funding to help build 30 safe and affordable rental housing units for seniors in Moncton. Federal funding stems from the Affordable Housing Fund. The project at 1010 St. George Boulevard in Moncton will convert an existing building into a mixed-use project that will include 30 affordable units of housing for seniors on the second and third floors, as well as a medical clinic on the ground floor.

The announcement was made by the Honourable Ginette Petitpas Taylor, Member of Parliament for Moncton–Dieppe, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister Responsible for Pacific Economic Development Canada; as well as by the Honourable David Hickey, Minister responsible for the New Brunswick Housing Corporation; the Honourable Claire Johnson, Minister of Education and Early Childhood Development for New Brunswick and Member of the Legislative Assembly for Moncton South and by Shawn Crossman, mayor of Moncton.

The Government of Canada is making the housing investments that will help strengthen Canadian supply chains and create good jobs at every step of the homebuilding process. These investments will help build more housing as well as strengthen the Canadian economy.

Quotes:

"The project we are officially announcing today will make a real difference for people here in Moncton. Every project like this one draws us closer to the country we want to build--one where everyone has access to a safe and affordable place to call home." – The Honourable Ginette Petitpas Taylor, Member of Parliament for Moncton–Dieppe

"Our government recognizes the housing crisis is felt acutely in the Moncton area and we are committed to tackling our housing challenges head-on. Projects like this help to reduce the housing waitlist and create new affordable options for New Brunswickers." – The Honourable David Hickey, Minister responsible for the New Brunswick Housing Corporation

"We have seen a growing need for affordable housing suited to the needs of seniors and this project, which combines housing with ready access to a medical clinic, is helping to meet this need. We are proud to support this build through our Housing Accelerator Fund incentives and happy to see an existing building repurposed in this way." – Shawn Crossman, Mayor of Moncton

"Rising Tide is pleased to partner with CMHC, NB Housing and the City of Moncton to make this much-needed housing development a reality. Our mission includes providing both supportive housing for the homeless and deeply affordable units for vulnerable populations. That includes our community's seniors who will occupy these new units. What makes this development unique is that our senior residents will have access to a new medical clinic on the first floor. It's a model we believe has great potential." – Dale Hicks, President of Rising Tide Community Initiatives

Quick facts:

• The Affordable Housing Fund (AHF) has provided 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. The AHF was a $16.1-billion National Housing Strategy program that prioritized housing projects for those who need them most: women and children fleeing family violence, seniors, Indigenous people, people with disabilities, those with mental health or addiction issues, veterans and young adults. The AHF is now closed to new applications, as all available funds have been committed.
  • As of March 2026, the federal government had committed $15.83 billion to support the creation of over 61,700 units and the repair of over 174,700 units through the AHF.
  • On September 19, 2025, the Government of Canada announced a top-up of $1.5 billion in loans for the New Construction Stream of the AHF to support the construction of more than 5,000 housing units starting in 2025–2026. In addition, the Rapid Housing Sub-Stream of the AHF will be accelerated by pulling $385 million in funding from future years. 
• Funding provided for this housing project is as follows:
  • $6.52 million from the federal government through the Affordable Housing Fund (AHF).
  • $2.38 million from the New Brunswick Housing Corporation.
  • $600,000 from the City of Moncton.

Additional information:

• Visit canada.ca/housing for the most-requested Government of Canada housing information.
• Build Canada Homes is ready to partner with organizations committed to increasing the supply of affordable housing across Canada. Learn more on the portal and about the investment policy framework.
• Canada Mortgage and Housing Corporation (CMHC) is a federal Crown corporation and the foundation of Canada's housing system. For over 80 years, CMHC has supported the functioning of housing markets across the country through housing finance solutions--including mortgage loan insurance and securitization--while providing trusted, unbiased data, research and market intelligence to inform policy and decision making. Through its national presence, deep expertise in housing economics and finance, and a system-wide perspective, CMHC helps foster a more stable, well-functioning housing market that supports households, communities and the broader economy. Follow CMHC on X, YouTube, LinkedIn, Facebook and Instagram

SOURCE Canada Mortgage and Housing Corporation (CMHC)

Contacts: Arianna Durgerian, Office of the Minister of Housing and Infrastructure, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]