Nearly $4 million spent on 20 affordable housing units in New Glasgow, N.S.
Coady's Place in New Glasgow, N.S., is seen in a file photo from 2022.
The federal and provincial governments, as well as the Nova Scotia Co-operative Council, have announced nearly $4 million in combined spending on 20 affordable homes in New Glasgow on Friday.
Phase 2 of Coady’s Place, which is owned and operated by Nova Scotia Co-operative Council, consists of studio, one-bedroom, and two-bedroom apartments for low-income individuals, seniors, and families.
"Affordable housing is one of the core issues facing our community and this investment in phase two of Coady's Place will provide more people and families a safe and affordable place to call home,” said Sean Fraser, federal minister of Housing, Infrastructure and Communities, in a news release.
“We will continue to work with partners to invest in affordable housing projects here at home and across the country.”
Coady’s Place, Phase 2, will offer affordable housing to 28 individuals. The apartments are all fully furnished, and have power, heat, water, and waste management costs included in the rent. Of the 20 new units, four will be accessible for individuals with mobility issues.
"Across the province, we're hearing from Nova Scotians who are struggling to find a place to call home, and we're working to change that,” said MLA Pat Dunn on behalf of provincial Housing Minister John Lohr.
“We're grateful to be partnering with Coady's Place and with the federal government to help bring more affordable housing to New Glasgow."
According to the release, the funding for the project includes:
- $500,000 as a forgivable loan from the federal Affordable Housing Fund
- $496,125 as a low interest, repayable load from the federal Affordable Housing Fund
- $77,619 from the federal government through Canada Mortgage and Housing Corporation’s SEED funding program
- $1.5 million from the province’s Affordable Housing Development Program
- $305,593 in land and cash equity from Nova Scotia Co-operative Council
In May of 2022, Coady’s Place received around $2.1 million in federal funding for 36 affordable apartments for people in New Glasgow under Phase 1 of the Rapid Housing Initiative. The project also received $3 million from the Nova Scotia Department of Municipal Affairs and Housing to help ensure the affordability of the units.
For more Nova Scotia news, visit our dedicated provincial page.
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