Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation
Government of Nova Scotia

Government of Nova Scotia

March 13, 2017 10:15 ET

New Affordable Rental Housing for Seniors

MAHONE BAY, NOVA SCOTIA--(Marketwired - March 13, 2017) - Seniors will soon have better access to affordable rental housing with support from the Governments of Canada and Nova Scotia. The construction of a 26-unit development, including three barrier-free units, will ensure seniors in rural Nova Scotia have access to safe, accessible housing.

Bernadette Jordan, Member of Parliament for South Shore - St. Margaret's, on behalf of the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation, along with Suzanne Lohnes-Croft, Member of Legislative Assembly for Lunenburg, on behalf of Joanne Bernard, Minister of Community Services, Nova Scotia, made the announcement today.

Quick facts:

  • The 26-unit development received a $1.3 million investment from the Investment in Affordable Housing Agreement through the Governments of Canada and Nova Scotia.
  • The federal and provincial governments are also investing nearly $375,000 to make 13 rent supplements at Brookside Apartments available to support older adults with lower incomes.
  • The Government of Canada announced $8.6 million for the construction, repair and adaption of affordable housing for seniors over two years in Nova Scotia. The funding for this program is expected to create approximately 170 new units for seniors.
  • This project is being developed by M.A.D.E. for Mahone Bay Limited.
  • Brookside Apartments is the first development of affordable housing benefiting from an increase in capital contributions for new rental housing projects. Developers in Nova Scotia can now access up to $50,000 per affordable unit, which is double the level of the previous funding available.

Quotes:

"When people think about affordable housing, they sometimes think it is a problem unique to cities. Affordable housing is an issue I have heard about time and time again in conversations with constituents across our rural communities. Through investments in affordable housing, our Government is providing assistance to those who need it most here in Nova Scotia and in all corners of the country. These investments help create new jobs and stimulate the local economy, while providing access to safe, affordable homes for Canadian seniors." - Bernadette Jordan, Member of Parliament for South Shore - St. Margaret's

"We're pleased to support the creation of new affordable homes for seniors in Mahone Bay. This investment will make a real difference in the lives of seniors who want to stay here in this vibrant community. This project shows what can be achieved when business and government partner to help Nova Scotians." - Suzanne Lohnes-Croft, Member of Legislative Assembly for Lunenburg

"The demand for affordable housing in Mahone Bay and the surrounding areas is high and we want to continue to do our part to help our senior citizens who need it the most. Our team is really looking forward to starting construction on the 26 unit, Brookside Apartments project in the spring. I want to thank the Province of Nova Scotia and the Federal Government as well as the Mayor and Council of the Town of Mahone Bay for their continued support for our community. Working together we can 'Make A Difference Everyday'." - Bob Youden, CEO, M.A.D.E. for Mahone Bay

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CMHC has been helping Canadians meet their housing needs for more than 70 years. 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 Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of CMHC's operations. For more information, please call 1-800-668-2642 or visit www.cmhc.ca.

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