The City of Saint John will get funding from the federal government’s Housing Accelerator Fund.
Council voted Monday to enter into a contribution agreement with the Canada Mortgage and Housing Corporation.
But we will not know how much the city will get until CMHC makes the official announcement at a later date.
Saint John had applied for around $15 million to help build more than 1,200 new units over three years.
RELATED: Saint John eyes fund to help increase affordable housing stock
Housing manager Andrew Reid has said the city’s housing starts need to double just to meet growth targets.
The city’s application included eight initiatives which would address actions identified in the Affordable Action Housing Plan and the city’s 10-year Strategic Plan.
It includes expediting the permitting process, capitalizing on affordable housing, leveraging public lands, and zoning bylaw reform.
