From a press release
HALIFAX: Access to affordable housing in Nova Scotia is at an all-time low, and has reached a critical state. A recent
study found that Nova Scotia needs to build or acquire over 33,000 units of affordable, non-market housing in the next 10 years.
To address this, BlackBay Real Estate Group has been actively working to make housing more affordable in
communities across Nova Scotia.
BlackBay recently acquired several properties and is committed to keeping over half of the units affordable for the next 10
years. This is a significant focus for BlackBay and underscores continued efforts to increase housing supply and create a
more inclusive housing environment for Nova Scotia residents.
“Our focus is to build on BlackBay’s core values: Ensuring that all our properties are not only safe and habitable but also
modern, energy-efficient, and environmentally friendly,” said Greg Smith, Chief Operations Officer for BlackBay.
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“Doing our part to positively impact the affordability challenges in Atlantic Canada is the right thing to do and for new
acquisition we will continue to include an affordability component.”
Affordable housing stands as one of Canada’s most pressing public policy concerns. BlackBay is committed to playing a
role within the private sector to actively contribute to addressing this critical issue.
BlackBay has begun working with municipalities and will actively be working with stakeholders and various levels of government to find solutions to addressing the affordable housing issue.
“Our commitment extends beyond affordability. We are actively working to increase the number of new housing units and
diligently working to revitalize our buildings while placing a strong emphasis on investing in the communities we work
and live in,” said Smith.
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“Additionally, we are prioritizing the exterior facades, hallways, and common areas across all our
properties.
“This gives our tenants a sense of pride, ensuring a high-quality living experience within each BlackBay
property.”
In addition to the properties recently acquired, BlackBay has some very exciting acquisitions on the horizon that involve
creating new housing for underserved markets in Atlantic Canada while ensuring that over half of the units are affordable.
