New Brunswick budget supports growth for co-operative housing

Published March 22, 2024

The Government of New Brunswick tabled its 2024 budget this week, with important commitments to create more affordable housing.

There are over 1,000 households that have a safe and affordable home because they live in a housing co-op. CHF Canada welcomes the new investments outlined in the budget that will support the growth of co-op homes in communities across New Brunswick.

Notably, New Brunswick is making strides to grow the proportion of community housing across the province, by earmarking $2.5 million for pre-construction work related to affordable housing, $2.5 million for development and repair of rental homes, and $20 million to support infrastructure improvements in small communities. These commitments are necessary to help address growing need for affordable housing in rural communities, including through the construction of new co-operative homes for New Brunswickers.

Co-op housing is an at-cost solution, which results in affordability over the long-term and strong communities. With a growing population, New Brunswickers need more affordable, community-oriented housing options; the co-operative housing sector is committed to working with the Government of New Brunswick to realize this vision.

The Government of New Brunswick understands that housing is a priority, which necessitates key investments in affordable housing solutions. Co-op housing can be a solution for New Brunswickers, and is already providing homes for over 1,000 households. It’s time to work together toward our shared vision of healthy, affordable communities.

– Karen Brodeur, Atlantic Regional Manager