Sydney Mines Gets Affordable Rental Housing

COMMUNITY SERVICES--Sydney Mines Gets Affordable Rental Housing Project

Residents of Sydney Mines will soon have access to more affordable rental housing with the approval of a $1.3-million, 20-unit project under the Canada-Nova Scotia Affordable Housing agreement.

Nova Scotia Community Services Minister, David Morse, and Member of Parliament Mark Eyking, on behalf of Joe Fontana, federal Minister of Labour and Housing, made the announcement today, Nov. 26.

"This project is going to be of great benefit to Sydney Mines because it addresses an identified need for affordable rental housing for both seniors and non-elderly singles in the community," said Mr. Morse. "This is the first project to be announced for Cape Breton and we look forward to working with interested parties to develop more affordable housing in the region."

"The government of Canada is committed to supporting affordable housing for those Canadians who need it most," said Mr. Eyking. "We are pleased to be making this investment to create affordable housing units for residents of Sydney Mines. Together with our partners, we are helping to build healthy, sustainable communities across the province."

The project will receive funding from both levels of government and the developer. The government of Canada is providing $500,000 in up-front capital, the province is providing $285,000 in rent supplement funding and New Deal Developments plans to raise capital through the sale of shares in the community.

"We are pleased to partner with the federal and provincial governments on this project," said Emmett O'Connor, president, New Deal Developments. "This is a unique, community-driven project that will enable us to increase the amount of affordable housing available to Cape Bretoners."

The three-storey building will be completely wheelchair accessible. It will contain a mix of bachelor, one-bedroom and two-bedroom apartments -- all barrier-free. Construction on the project will begin next spring and is expected to be completed by March 2006.

Including today's announcement, $11.55 million in funding has been committed by the government of Canada and the province of Nova Scotia for the construction or renovation of 313 units valued at $19.1 million in the province. It is expected that up to 1,500 affordable housing units will be created or renovated under the $37.3-million Affordable Housing Agreement by 2007.