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New Brunswick Takes Action to Address Housing Crisis with New Initiatives
The government of New Brunswick has unveiled several measures aimed at tackling the province’s housing crisis. With increasing affordability concerns, these steps focus on encouraging new developments and ensuring more residents have access to affordable homes.
Key Policy Changes to Support Housing Development
A major highlight of the initiative is the federal approval of New Brunswick’s proposal to eliminate the provincial portion of the HST on eligible multi-unit residential buildings. This move ensures local developers have the same incentives as those in other Atlantic provinces, making it easier for builders to invest in affordable housing projects.
Premier Susan Holt emphasized the urgency of the situation, stating, “New Brunswickers have told us they are struggling to make ends meet and struggling to find an affordable place to call home.”
The tax rebate program applies to projects that commenced between November 15, 2024, and December 31, 2027, with substantial completion required by December 31, 2029. The federal government is now working on regulatory adjustments to facilitate the rebate process for developers.
Expansion of Public Housing Projects
The announcement was made at the site of a new public housing development in Edmundston, where ten modular one-bedroom units on Squateck Street are set to open in the coming months. This project is part of a broader effort to expand public housing across the province.
Current construction efforts include 149 public housing units spread across 17 locations, with an additional 40 units planned for the 2025-26 fiscal year. These developments aim to provide safe and sustainable housing for low-income individuals and families.
Collaborative Approach to Housing Solutions
David Hickey, Minister responsible for the New Brunswick Housing Corporation, highlighted the importance of a multi-faceted approach: “There isn’t a one-size-fits-all solution to the housing crunch. We are working closely with municipalities and community partners to develop solutions tailored to New Brunswick’s unique needs.”
François Boutot, CEO of the New Brunswick Housing Corporation, reinforced this commitment, stating, “Our focus remains on improving housing options for all New Brunswickers. We are dedicated to providing safe, affordable, and sustainable housing choices for our residents.”
What This Means for New Brunswick Residents
- Lower Costs for Developers: The HST rebate reduces financial barriers for developers, encouraging more multi-unit housing projects.
- More Affordable Housing: Increased supply can help stabilize rental prices and improve accessibility.
- Expanded Public Housing: More government-supported units will provide stable housing for vulnerable residents.
With these initiatives, New Brunswick aims to alleviate housing pressures and create a more sustainable, affordable future for its residents.
