Federal government supporting the construction and repair of 4,123 affordable homes across Atlantic Canada

Moncton, New Brunswick, June 14, 2024

Today, the federal government announced $98.7 million to build and repair 4,123 affordable homes through 69 projects, in New Brunswick, Prince Edward Island, Nova Scotia and Newfoundland and Labrador. The funding is coming as low-interest and forgivable loans through the Affordable Housing Fund (AHF). The Fund provides funding to partner organizations to help build and repair affordable homes across the country.

The announcement was made by the Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs, Member of Parliament for Beauséjour and the Honourable Ginette Petitpas Taylor, Minister of Veterans Affairs, Associate Minister of National Defence and Member of Parliament for Moncton-Riverview-Dieppe, on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, at the Northeast Moncton Community Hub and Housing which has previously received funding through AHF.

Through investments like this, the federal government is working to end the housing crisis, so that everyone has a safe and affordable place to call home today – and so future generations have the same opportunity to rent or own a place of their own as generations that came before them.

Quotes:

“Everyone deserves a place to call their own and the Affordable Housing Fund is one way we’re helping make that a reality for Canadians. We will keep investing in affordable homes and working with partners across the country to end the housing crisis once and for all.”
— The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

“More people than ever are choosing to settle in Atlantic Canada. That growth comes with incredible opportunities, but it also means that we’ve got to redouble our efforts to build more housing – particularly affordable housing. The investment we’re announcing today aims to do exactly that.”
— The Honourable Dominic LeBlanc, Minister of Public Safety, Democratic Institutions and Intergovernmental Affairs, Member of Parliament for Beauséjour

“Today's announcement marks an important step in ensuring that all Atlantic Canadians have a safe and affordable place to call home. Moncton is growing, and today's announcement will help build and repair more much-needed affordable housing in our communities.”
— The Honourable Ginette Petitpas Taylor, Minister of Veterans Affairs, Associate Minister of National Defence and Member of Parliament for Moncton-Riverview-Dieppe

Quick facts:

The Affordable Housing Fund is part of the Government of Canada’s National Housing Strategy (NHS), an $82+ billion plan to give more Canadians a place to call home.
Budget 2024 provided the Affordable Housing Fund with an additional $1 billion, bringing the total to $15 billion. As of March 2024, the federal government has committed over $8.56 billion to support the creation of over 34,000 units and the repair of over 164,000 units through the AHF.
As of March 2024, the federal government has committed $50.97 billion to support the creation of over 146,000 units and the repair of over 286,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence.

Additional information:

Visit canada.ca/housing for the most requested Government of Canada housing information.

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that everyone in Canada has a home they can afford and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.

Progress on programs and initiatives are updated quarterly at www.placetocallhome.ca. The Housing Funding Initiatives Map shows affordable housing projects that have been developed.