Governments of Canada and New Brunswick Celebrate New Affordable Housing in Fredericton

FREDERICTON, NEW BRUNSWICK--(Marketwire - Jan. 18, 2013) - The Government of Canada and the Province of New Brunswick celebrated the official opening of a new eight unit project that provides four affordable housing units for low-income individuals in Fredericton.

The Honourable Keith Ashfield, Minister of Fisheries and Oceans, Minister for the Atlantic Gateway, Member of Parliament for Fredericton and Minister Responsible for New Brunswick, on behalf of the Honourable Diane Finley, Minister of Human Resources and Skills Development and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), along with the Honourable Madeleine Dubé, New Brunswick Minister of Social Development made the announcement today.

"The Government of Canada is proud to contribute $160,000 in funding for this project," said Minister Ashfield. "These units are more than just safe and affordable places to live. They are the key to a better life for the residents that will call them home."

"Adequate, accessible and affordable housing is a significant factor in helping to enhance the quality of life of New Brunswickers and their families," said Dubé. "Projects such as this one are good examples of how governments and the community can work together to rebuild New Brunswick."

In addition to the $160,000 in federal funding toward construction costs, the new eight unit development located at 411 St. Mary's Street in Fredericton, will receive $326,319 in rent supplements from the Province of New Brunswick for four of the units for low-income individuals. The developer of the new housing development is Eric Price.

Funding for this project was made available as a result of a joint investment under the 2009 extension of the Canada-New Brunswick Affordable Housing Initiative.

The Government of Canada, through CMHC, will invest approximately $2 billion in housing this year. Of this amount, $1.7 billion will be spent in support of almost 605,000 households living in existing social housing. In New Brunswick, this represents some 16,300 households. These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people.

These new affordable housing units are part of the New Brunswick Government's strategy to rebuild New Brunswick together and enhance the quality of life of its residents. The investments made by the provincial government are helping to build and strengthen communities in New Brunswick by providing quality, affordable housing options for low-income individuals, families and seniors. For more information on affordable housing projects in New Brunswick, visit www.gnb.ca/socialdevelopment.

To find out more about how the Government of Canada and CMHC are working to build stronger homes and communities for all Canadians, call CMHC at 1-800-668-2642 or visit www.cmhc-schl.gc.ca.