This program is for developers who are interested in building new affordable rental units in areas where the population is growing or there is a shortage of housing. It provides up to $50,000 per unit in up-front capital funding. In some cases, a rent subsidy can also be provided for a period of 10 years. Projects may involve new construction or the conversion of non- residential properties into affordable rental housing.
Project developers must be from the non-profit or private sectors. To apply for funding, developers must submit project proposals. Once a project proposal is approved, developers must sign an agreement with the Province of Nova Scotia which states that housing will be offered to low-income households at an affordable level for a minimum of 15 years.
Submitted proposals are evaluated based on the following criteria:
Once a decision has been made, Housing Nova Scotia staff will notify developers of approved proposals.
Contact Housing Nova Scotia at 902-424-8445. One of our staff members will be happy to help.