The federal government has announced a substantial eight-year investment in the province’s affordable housing
Federal and provincial governments have announced an eight-year investment in new housing supply for Newfoundland and Labrador.
The $74.4-million investment in the Canada – Newfoundland and Labrador Housing Benefit (CA-NL HB) will directly fund approximately 2,600 homes across the province for that eight-year period.
The tranche “will provide housing stability, combat homelessness and support those who need it most,” said Seamus O’Regan, minister of natural resources and member of Parliament for St. John’s South-Mount Pearl. “This will improve the quality of life for people in our province and give everyone an equal chance at success.”
Read more: Revealed – Canada’s most desirable cities for millennials
In particular, the CA-NL HB is meant to “address rental instability among certain target groups such as women and children experiencing or at risk of domestic violence, seniors, Indigenous peoples, peoples with disabilities, those dealing with mental health and addiction issues, homeless individuals and those at risk of homelessness, racialized communities, veterans, young adults, among others,” according to the Canada Mortgage and Housing Corporation.
“Working together with our federal partners, these investments will help to provide housing for many individuals and families – a place to call home – which is essential to their social, financial and physical well-being,” said John Abbott, minister responsible for the Newfoundland and Labrador Housing Corporation.
