Affordable rental housing program

The federal and provincial governments have signed a cost-sharing arrangement to create new rental housing units for low- and moderate-income households.

Call 1-833-733-7835 for more information or to apply.

Overview

The Affordable Rental Housing Program provides financial assistance to private entrepreneurs, private non-profit corporations (includes off-reserve Indigenous population) and co-operatives for the construction, repair and conversion of rental housing projects.

Funding is in the form of a forgivable loan and is based on the cost of eligible work and the number of eligible self-contained units or bed units within a project. Borrowers will enter into a mortgage agreement with Housing NB to ensure that units remain affordable to low and moderate income households.

Unit Type Non-Profits Private Entrepreneurs
Bachelor $70,000 $60,000
1 – Bedroom $77,000 $66,000
2 – Bedroom $83,000 $72,000
3 – Bedroom $88,000 $77,000


Interest free loans may be provided to eligible non-profit and cooperative sponsors of projects to develop a project proposal. 

Tenants qualifying for assistance through the Rent Supplement Program will have their rents reduced to 30% of their adjusted household income. Landlords will receive the difference between the rent paid by the tenant and the market rent agreed to under a rental agreement.

Eligibility

A development proposal is eligible if:

  • the project creates basic affordable units that would rent at or below the average market housing rents for comparable housing in a community 
  • tenants include families, seniors, non-elderly singles, disabled households or persons with special needs
  • all new construction projects conform to current design and building standards 
  • existing buildings must conform to acceptable standards, as determined by the Department of Social Development
  • private non-profit organizations are incorporated under provincial or federal legislation

A proposal must include: 

  • information on sponsoring group
  • development plans
  • target group
  • site selection consideration
  • concept proposal
  • additional cost effectiveness considerations
  • development schedule

Get help

Housing NB
For additional inquiries, you can contact us Monday to Friday between 8:15 a.m. and 4:30 p.m., excluding holidays.