HALIFAX — Nova Scotia’s housing minister is announcing $21.8 million to help create 373 new affordable housing units in the Halifax area.

John Lohr said today the funding is in the form of a forgivable loan to real estate company Clayton Developments, which will make the units available as part of an 875-unit development in the Mount Hope area of Dartmouth.

Lohr told reporters that under the terms of the loan agreement, the developer must offer the affordable units over the next 20 years at 60 to 80 per cent of the average market rent.

The minister says people who still need more help to rent the townhouses, fourplexes and apartments in multi-unit buildings can also apply for a rent supplement from the province.

The rents for the affordable units will be finalized just before construction begins.

Lohr says construction is expected to begin this fall, with the first affordable housing units to become available about a year later.

This report by The Canadian Press was first published March 28, 2022.

The Canadian Press