Ottawa has signed off on a New Brunswick initiative aimed at creating more affordable housing.
The province plans to rebate the 10 per cent provincial portion of the HST off eligible multi-unit builds.
Provincial officials said this will put New Brunswick builders on a level playing field with those in other Atlantic provinces.
“New Brunswickers have told us they are struggling to make ends meet and struggling to find an affordable place to call home,” Premier Susan Holt said in a news release.
“We want to spark more development of affordable multi-unit builds and ensure more New Brunswickers have access to the affordable and available housing they need.”
The rebate would apply to construction that began between Nov. 15, 2024, and Dec. 31, 2027, and has been substantially completed by Dec. 31, 2029.
Officials said the federal government is working through regulatory and system changes to deliver the rebate to New Brunswick developers.
