P.E.I. spends $10M on affordable housing pilot project
Prince Edward Island is spending $10 million on a pilot project designed to increase the supply of affordable housing across the province.
According to a news release from the provincial government, the Community Housing Expansion Pilot will give the money to the non-profit and cooperative housing sector to allow them to acquire roughly 120 units in 2024 and 2025.
“Many people don’t qualify for public housing because their income is too high, but they don’t make enough to pay market rates either,” said Rob Lantz, housing, land and communities minister, in the release. “By working with the community sector, we can meet the housing needs of people with low- and moderate-income levels and help them find safe, secure, and affordable homes for the long-term.”
The project also aims to build a pipeline for new construction and acquisition projects.
For more Prince Edward Island news visit our dedicated provincial page.
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