SYDNEY MINES, N.S. — The federal government and the Province of Nova Scotia have announced total spending of $16.6 million on 10 affordable housing projects across the province.
The projects will create 236 new rental units with over half offered at rents at or below 80 per cent of the local market rent, stated a release.
The spending will support the following projects: Stephen Jamael Property Rentals, Sydney, 36 units in two projects, $3.8 million; Future Growth Co-op, Sydney Mines, 22 units, $3.9 million; Atlantic Edge Properties, Guysborough, 36 units, $1.35 million; Tata Holdings, Tatamagouche, 21 units, $1.2 million; Meech Holdings, Truro, 56 units, $3 million; Six Point Star Homes, Amherst, eight units, $680,000; Innovare Properties and Developments, Westville, 28 units, $1.225 million, S.W.H Construction, Shelburne, five units, $350,000; and Grand Multip Properties, Barrington, 24 units, $900,000.
The federal government is providing $7.5 million in funding for the projects through the National Housing Co-Investment Fund. The province is providing $9.1 million in funding through its Affordable Housing Development Program.
The Nova Scotia government has recently revamped the Affordable Housing Development Program. Changes include a reduction in the equity requirement for non-profit applicants from 20 per cent to five per cent, and a more streamlined process for developers.
“We are in a housing crisis, and we are taking concrete steps to create more supply to help Nova Scotians find safe and safe affordable housing,” stated Nova Scotia Mental Health and Addictions Minister Brian Comer in a statement.
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