HALIFAX: Nova Scotia has partnered with the Housing Trust of Nova Scotia to preserve 90 housing units – including 62 affordable units – in Halifax.
Housing Minister John White made the announcement February 10, in Fairview, where the housing is located.
“Every affordable home counts and preserving and protecting existing affordable units is just as important as building new,” said Minister White.
“Through partnering with the Housing Trust of Nova Scotia, we’ve created and preserved hundreds of housing units across the province.
“Protecting these homes is another great example of our shared commitment to ensure as many people as possible have access to a safe and affordable place to call home.”
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The province is investing a total of $15.7 million in the three projects, with the Housing Trust of Nova Scotia accessing funding from two programs designed to help community housing organizations purchase, preserve and expand affordable housing.
The properties are:
– 23 Westgrove Pl. – 24 units (15 affordable); supported by a $3.48-million repayable loan from the Community Housing Acquisition Program and a $720,000 investment from the Community Housing Capital Fund
– 299 Main Ave. – 22 units (16 affordable); supported by a $3.05-million repayable loan from the Community Housing Acquisition Program and a $660,000 investment from the Community Housing Capital Fund
– 16 Mandaville Court – 44 units (31 affordable); supported by a $6.49-million repayable loan from the Community Housing Acquisition Program and a $1.32-million investment from the Community Housing Capital Fund.
The buildings have a mix of one- and two-bedroom units, and rents include heat, hot water and parking. Affordable rents range from $828 to $1,600 a month.
The Halifax Regional Municipality is providing a grant to cover deed transfer taxes on the three properties.
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Preserving affordable housing through partnerships with community housing organizations is a key component of the Province’s five‑year housing plan, Action for Housing, which is focused on reducing barriers, speeding up development and helping more Nova Scotians access affordable housing, faster.
Housing starts are up 36 per cent over the past two years, and in the first two years of the housing plan, every goal has been exceeded, with the conditions created for more than 68,000 new housing units.
Quotes:
“These homes represent stability for households today and for generations to come. By protecting affordability, we’re ensuring people can stay rooted in the communities they contribute to every day.”
— Angela Bishop, Executive Director, Housing Trust of Nova Scotia
Quick Facts:
– the Community Housing Acquisition Program helps community housing providers preserve affordable housing units by providing a fixed interest rate loan of up to $10 million per acquisition to purchase existing multi-unit residential properties
– the Community Housing Capital Fund, a pilot program, provides one-time equity grants to help pre-qualified community housing organizations finance the purchase of existing residential buildings (five units or more) to keep rents affordable
– under the Community Housing Acquisition Program, at least 30 per cent of units must have rents below average market rent
– since 2021, almost $300 million has been invested in community housing organizations to create or preserve more than 3,000 affordable units across Nova Scotia
