01 August 2019 0 Comments Posted By : Ephraim Vecina

PEI affordable housing gets multi-million-dollar federal boost

Prince Edward Island is augmenting its affordable housing supply with an $11.9-million federal commitment for the construction of a 4-storey low-cost residential complex in Charlottetown.

The Canadian and provincial governments have announced the development of the 60-unit Martha Place housing complex.

The building will be situated at 2 Acadian Drive in Charlottetown, and it will also house part-time social services from the Sisters of St. Martha.

“The City of Charlottetown is committed to working with all levels of government, stakeholders, community organizations, and private developers to create more affordable and accessible housing units in the Capital city,” Charlottetown mayor Philip Brown said in the announcement.

“Martha Place will be a great addition to Charlottetown’s housing stock and will help us move towards a more comfortable vacancy rate.”

Earlier this year, the Conference Board of Canada predicted that Atlantic Canada’s home-buyer purchasing power will especially benefit from 2019 economic growth.

This will be largely impelled by stability in the service sector, growth in exports, and consistency in oil production.

PEI will be the stand-out performer with its projected 3.2% growth by the end of the year, considerably exceeding the levels seen elsewhere in the country.

“Over the next two years, the Island should outpace nearly every other province in the country when it comes to its rate of population growth. Consequently, the construction industry is set to surge this year, thanks to new housing developments on the Island,” the Board explained

“Add to that the impressive tourism prospects and the elevated demand for PEI products boosting exports and manufacturing, and economic growth in the province should continue to outpace the Canadian average -- a feat that PEI has achieved every year since 2015.”

views : 341 | images : 1 | Bookmark and Share


Enter your comment below



Leave a Reply

Most Popular

NewsQuestions on housing, youth engagement, water conservation at forum hosted by Young Voters of P.E.I.

CHARLOTTETOWN, P.E.I. — Young Voters of P.E.I. took the reins on the first all-candidates fo [...]

30 September 2019

NewsMore delays for court-ordered mental health assessments in P.E.I.

CHARLOTTETOWN, P.E.I. — As Health P.E.I. struggles to get court-ordered mental health assess [...]

30 September 2019

NewsNo need to fear great white shark swimming off P.E.I., say researchers

Researchers are tracking a great white shark named Brunswick that has been spending some time in [...]

30 September 2019

NewsP.E.I. tourism growing again, but 'definitely an opportunity' for more

A strong spring has pushed P.E.I.'s tourism numbers into positive territory, but the Tourism Ind [...]

30 September 2019

NewsCharlottetown mayor wants federal election signs taken down from parks

CHARLOTTETOWN, P.E.I. — Charlottetown Mayor Philip Brown doesn’t want to see political signa [...]

30 September 2019