The provincial government is investing more than $4 million to support the creation of more student housing at Mount Allison University.
"Increasing our supply of on-campus student housing is a key pillar of our provincial housing plan," said Post-Secondary Education, Training and Labour Minister Greg Turner. "We are pleased to partner with Mount Allison University on this project, which will enhance the campus experience for present and future students."
The department will provide $162,000 annually over the next 25 years to support the university with the cost of borrowing for its renovation project at Harper Hall. The renovated building is expected to reopen this month, creating 147 new beds on campus.
"Mount Allison prioritizes the well-being of our students, and this investment will significantly enhance our ability to offer high-quality, student-centred living," said Ian Sutherland, the university's president and vice-chancellor. "By addressing the diverse needs of our students, this funding will help foster a supportive living and learning environment that is conducive to both academic success and personal growth."
Encouraging publicly funded universities to increase access to student housing was identified as a priority in Housing for All, the government's housing strategy.
"Our government remains committed to addressing every aspect that is putting pressure on housing, including student housing," said Social Development Minister Jill Green, who is also minister responsible for the New Brunswick Housing Corporation. "Everyone deserves access to safe, affordable housing, and each program and initiative our government is working on is laying the foundation for sustainable housing for all New Brunswickers for generations to come."
As part of its housing strategy, the government created a fund to help universities with pre-construction and annual costs for up to 25 years. This long-term, results-based funding is meant to incentivize student housing across seven campuses of the province's four publicly funded universities and free up more of the housing market for non-students.
The government continues to work with the University of New Brunswick and Université de Moncton on agreements to create more on-campus student housing.
