Prince Edward Island to build 36 new units for low-income residents
Prince Edward Island announced Thursday plans to build 36 new affordable housing units, available to residents on the social housing registry at 25 per cent of their income.
The province is partnering with three developers to build 34 units in Charlottetown and two in Souris.
"Not only will these units bring 36 social housing units for low-income Islanders, but will add 53 market units to the current supply," Brad Trivers, minister of social development and housing, said in a release.
"The benefits of this program are two-fold, creating additional social housing units, while also supporting new market units which creates movement in the market. This translates to greater access to affordable housing for all Islanders."
In Charlottetown, Empire Developments Inc. will construct 33 social housing units, and Riley Cameron will add one.
Both have signed a 15-year agreement to maintain the housing as affordable for Islanders on the housing registry.
The projects are in the planning and permitting stages of development.
In Souris, Heartwood Properties will add two social housing units under a 15-year agreement to maintain the housing as affordable for residents on the housing registry.
Construction will begin next month.
The new units are part of P.E.I.’s commitment to add 1,200 new affordable housing units by 2024.
The province has already initiated 953 out of the 1,200 units and the 2021-2022 operating budget included $32.4 million to provide more affordable housing for Islanders.
As of Sept. 30, there are 121 seniors and 189 families or individuals on the social housing registry.
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