Affordable Housing in Nova Scotia Gets $128-million Boost

Nova Scotians will have more jobs, a stronger economy and better quality of life because the province and government of Canada are partnering to build new and renovate existing affordable housing.

Both levels of government officially signed an amendment to the Canada-Nova Scotia Affordable Housing Program Agreement and an extension to the Canada-Nova Scotia Housing Renovation Program Agreement, to make a joint investment of almost $128 million over the next two years.

Community Services Minister Chris d'Entremont and Diane Finley, Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), made the announcement at a signing ceremony today, April 29, with Peter MacKay, Minister of National Defence.

"Housing funds on the scale we are talking about today have not been seen in our province in decades and will not only allow us to help Nova Scotians in need of housing, but those in need of work," said Mr. d'Entremont. "This investment in affordable housing is a major part of Nova Scotia's Building for Growth provincial infrastructure plan, which will inject close to $2 billion into our economy over the next three years."

"The government of Canada continues to work hard to support Canadians during these challenging economic times, and has moved aggressively to ensure Canada's economic action plan is implemented rapidly," said Ms. Finley. "We are helping the most vulnerable, including seniors and persons with disabilities, access suitable, affordable housing, as well as making needed renovations to existing social housing both in Nova Scotia and across Canada."

The announcement includes $48 million in funding by both the province and the government of Canada, over two years under Canada's Economic Action Plan, as part of a one-time investment of more than $2 billion to build new and renovate existing social housing in Canada.

"Government is committed to making affordable housing available in Nova Scotia and today's announcement is good news for our province," said Mr. MacKay. "This investment will help create much-needed jobs, strengthen the economy, and improve the quality of life for Nova Scotians."

These investments build on the $1.9-billion commitment for housing and homelessness programs announced by the government of Canada in September 2008, which extended the Affordable Housing Initiative and the renovation programs for low-income households for two years. The two-year extensions of these programs means a further $32 million will be invested to build new affordable housing and assist low-income households with needed renovations to their homes. The federal government will contribute $21 million, while the province will invest about $11 million.

"I am very pleased that the federal government and Nova Scotia are partnering to provide much-needed funding for affordable housing in our communities," said Bill Buckland, vice-president of the Affordable Housing Association of Nova Scotia, and board member of the Canadian Housing and Renewal Association. "These investments will help lower-income people, seniors and families, access affordable housing in Nova Scotia."

CMHC has been Canada's national housing agency for more than 60 years. CMHC is committed to helping Canadians access a wide choice of quality, affordable homes and making vibrant and sustainable communities and cities a reality across the country.

For more information, call CMHC at 1-800-668-2642 or visit www.cmhc.ca/housingactionplan . For more information on Canada's Economic Action Plan, call 1-800-O Canada.

To watch this event online, visit the Newsroom on CMHC's website.