Truro Gets Affordable Rental Housing Project

first_imgResidents of Truro will soon have access to more affordablerental housing with the approval of a $1.4-million, 24-unitproject under the Canada-Nova Scotia Affordable Housingagreement. Geoff Regan, federal Minister of Fisheries and Oceans, on behalfof Joseph Fontana, federal Minister of Labour and Housing, andNova Scotia Community Services Minister David Morse, made theannouncement today, Oct. 28. “The government of Canada is committed to supporting affordablehousing for those Canadians who need it most,” said Mr. Regan.”We are pleased to be making this investment to create affordablehousing units for Truro residents. Together with our partners, weare helping to build healthy, sustainable communities across theprovince.” “This project is going to be of tremendous benefit to thecommunity of Truro,” said Mr. Morse, “because it addresses anidentified need for affordable rental housing for singles,families and seniors in the area.” The project, to be located on Prince Street in Truro, willreceive funding from both levels of government and the developer.The government of Canada is providing $576,000 in up-frontcapital, the province is providing $359,000 in rent supplementfunding, and Pinto Properties is providing 15 per cent of thedevelopment costs. The project involves the conversion of an existing three-storeybuilding. The second and third floors will be renovated to createa mix of one- and two-bedroom apartments, while the first floorwill remain commercial. Construction on the project will beginimmediately and is expected to be completed by March 2005. Including today’s announcement, $12.2 million in funding has beencommitted for the construction or renovation of 227 units in theprovince. It is expected that 850 to 1,500 affordable housingunits will be created or renovated under the $37.3-millionAffordable Housing agreement by 2007.last_img read more

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