Students now have more options for affordable housing in the Annapolis Valley.
The affordable multi-unit buildings in Lawrencetown are adjacent to NSCC's Centre of Geographic Sciences. (Student Housing Nova Scotia)
Student Housing Nova Scotia has purchased four multi-unit buildings in Lawrencetown and three in Kingston with the help of $6.9 million in loans from the Province's Community Housing Acquisition Program.
"It is just as important to preserve affordable housing as it is to build new units," said John White, Minister of Housing. "We are grateful for our partners in the community housing sector for their support in our government's efforts to provide more affordable housing throughout our province."
The 22 units in Lawrencetown are near Nova Scotia Community College's Centre of Geographic Sciences campus, while the 34 units in Kingston are within a short drive to the Kingstec campus in Kentville and the Annapolis Valley campus in Middleton.
The projects also received $530,000 through the Community Housing Capital Fund, managed by the Community Housing Transformation Centre.
While students will be given priority when units become available, enrollment at a post-secondary institution is not a requirement; current residents will not be displaced by students.
Quick Facts:
- repayable loans at fixed rates from the Community Housing Acquisition Program are available for up to 95 per cent of the property cost
- loans are available for up to 30 years, to a maximum of $10 million per project
- $61 million from the program has helped preserve more than 900 affordable units in Nova Scotia
- Student Housing Nova Scotia is a non-profit organization that develops, provides and advocates for housing that meets the needs of post-secondary students in Nova Scotia
- the Community Housing Transformation Centre is a national non-profit that strengthens and expands Canada's community housing sector through funding, capacity building and sector-wide collaboration
Additional Resources:
- Action for Housing: https://novascotia.ca/action-for-housing/
- Community Housing Acquisition Program: https://www.novascotia.ca/sites/default/files/documents/1-3455/community-housing-acquisition-program-guide-en.pdf
