Feds, NB government to fund affordable housing development organization

Housing market challenges are especially pronounced in the province's rural areas, officials say

Feds, NB government to fund affordable housing development organization

The federal government and New Brunswick authorities have announced that they are jointly funding an organization focused on boosting housing development in the province’s far-flung areas.

The non-profit organization, which will be called Housing Hub of New Brunswick Inc., will benefit from a pledge of $800,000 from each level of government, for a total of $1.6 million.

The organization will be responsible for acquiring funding, connecting with developers, and working with all levels of governments and private businesses to substantially improve the availability of affordable units in New Brunswick.

“In our rural regions, the lack of adequate housing is preventing companies from retaining and attracting the skilled workers that they need to grow,” said Ginette Petitpas Taylor, minister responsible for the Atlantic Canada Opportunities Agency.

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Jill Green, minister of Service New Brunswick and minister responsible for housing, added that housing market challenges – which are already considerable in other regions of the province – are especially heightened in rural areas.

“The housing hub in New Brunswick will provide a much-needed coordinated approach to developing rental housing in rural communities,” Green said. “This is a market that we are not currently addressing.”