Local governments and non-profits in New Brunswick are getting provincial support to help build more housing.
The province announced Thursday it will invest $22.5 million annually as part of its Housing for All strategy.
Officials said that money will be funnelled through two streams: preconstruction funding and small community housing infrastructure funding.
“One of the barriers we heard about during our housing strategy development consultations was a lack of available working capital, particularly in small communities and for non-profit housing providers,” Jill Green, minister responsible for the New Brunswick Housing Corporation, said in a news release.
“The other barrier is that many proposed small community housing developments are stalled due to a lack of serviced properties, such as water, roads and wastewater.”
Preconstruction funding will support upfront work to demonstrate the viability of a proposed housing development and secure financing for the construction and operation.
Small community housing infrastructure funding is for communities with fewer than 25,000 people and will help to cover the cost of building or enhancing infrastructure to serve new developments.
More details about the program can be found on the Government of New Brunswick’s website.
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