Investments will increase access to affordable housing

Tuesday, October 28, 2014

More Nova Scotians will move from wait lists into safe, affordable housing with a $52 million investment in rental supplements, co-ops, seniors housing and upgrades to public housing the Premier announced today, Oct. 28.

“These investments will help more Nova Scotians find a good home that they can afford,” said Premier Stephen McNeil. “By preserving existing public housing, investing in new projects, and using innovative approaches such as rent supplements, we will help more people find a place to call home.”

The investment will use $42 million of unspent federal housing contributions, $10 million in provincial funding and innovative public-private partnerships to increase affordable housing options.

The province is investing $9.4 million in rental supplements, which private landlords will augment through innovative solutions. This will create 300 units of affordable housing for Nova Scotians.

“We are pleased to see this program expanded so more families can find homes,” says Mark Bergman, of the Investment Property Owners of Nova Scotia. “Landlords are proud to be equal partners in this program, bringing reduced rent, matching dollars and other innovative solutions to work with government and help families find safe, affordable homes.”

Funds will also go to improving public housing, seniors’ housing renovations and to capital projects.

“This plan will allow Housing Nova Scotia to make the best use of available funds to help as many people as possible access safe and affordable housing,” said Minister responsible for Housing Nova Scotia Joanne Bernard. “This will address waiting lists almost immediately, while also building housing capacity over time.”