DARTMOUTH, NS, Aug. 1, 2024 /CNW/ - Today, the federal government announced more than $30 million in contributions and low-cost loans through the Affordable Housing Fund (AHF) to help build and repair 1,812 affordable homes across Nova Scotia.

The announcement was made by the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, alongside Darren Fisher, Member of Parliament for Dartmouth-Cole Harbour.

It took place at 91 True North Crescent in Dartmouth, which received $8.2 million to build 32 new homes and will be operated by the Affordable Housing Association of Nova Scotia. The project will feature a mix of one-, two- and three-bedroom townhomes across three buildings. All buildings are net-zero, energy efficient, and are conveniently located near lakes, parks, public transport and the local elementary school.

A detailed list of all the projects that received funding is provided in an appendix to this release.

Quotes:

Everyone deserves a place to call their own and the Affordable Housing Fund is one way we're helping make that a reality for Canadians. We will keep investing in affordable housing projects like the ones announced today, and working with partners across the country, to end the housing crisis." – The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

"We're delivering this funding to build more homes across Nova Scotia, including right here in Dartmouth—Cole Harbour. If we want every family to not only live but thrive in our communities, they need a safe place to call home that they can afford. This investment will also help repair affordable homes across the province, ensuring they're safe and available for folks to live in today and in the future. Today's announcement is very good news, but we can't slow down – we need to keep working together to build more homes and strengthen our communities."- Darren Fisher, Member of Parliament for Dartmouth—Cole Harbour

"The federal government is dedicated to supporting people with their housing needs and make life easier for Canadians. Through the Affordable Housing Fund, our government is investing in affordable housing across Nova Scotia. Today's announcement is yet another example on how we and we are creating real solutions for the affordable housing Canadians deserve. This is the National Housing Strategy at work." - Jaime Battiste, Member of Parliament for Sydney—Victoria

Quick facts:

• The federal funding announced today is helping create a total of 44 new homes and is leading to the repairs of 1,768 homes.
• The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to help build new affordable homes and renovate and repair existing, affordable and community housing.
• Through the 2023 Fall Economic Statement, the government announced an additional $1 billion for the Affordable Housing Fund, bringing the total funding to over $14 billion. To further support non-profit, co-operative, and public housing providers and respond to the needs of those most impacted by the housing crisis, Budget 2024 committed an additional $1 billion to the fund.
• This program under the National Housing Strategy (NHS) gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous peoples, people living with disabilities, those with mental health or addiction issues, veterans, and young adults.
• As of March 2024, the federal government has committed $50.97 billion through the NHS to support the creation of over 146,000 units and the repair of over 286,000 units.
• The Frequent Builder framework will help expedite applications for the Affordable Housing Fund and the Apartment Construction Loan Program. The Frequent Builder status is given to existing housing providers with a proven track record of building multi-residential units. Different criteria apply to Governments, non-profit and for-profit organizations to qualify for Frequent Builder status.
• Frequent Builders may receive benefits such as priority treatment, a streamlined process through intake, underwriting and approval stages, underwriting and advancing flexibilities, as well as the possibility of funding commitments for future years which will allow funding predictability and better planning for their pipeline of projects.

Additional Information:

• Visit Canada.ca/housing for the most requested Government of Canada housing information.
• 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 all levels of Canadian government, consumers and the housing industry. CMHC's aim is that everyone in Canada has a home they can afford and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• To find out more about the National Housing Strategy, please visit www.placetocallhome.ca.

Appendix: Projects receiving funding under AHF

SOURCE Canada Mortgage and Housing Corporation (CMHC)