The governments of Canada and New Brunswick announce the renovation of 39 homes in Moncton

MONCTON, NB, Nov. 12, 2025 /CNW/ – Changes in the global trading system are causing massive disruptions and uncertainty for Canadians. The world has changed, and Canada’s economic strategy must change.

Budget 2025: Canada Strong
 is our plan to transform our economy from one that is reliant on a single trade partner to one that is stronger, more self-sufficient, and more resilient to global shocks. This budget is a plan to enable $1 trillion in investments over the next five years. This is a plan for Canada to give ourselves more than any foreign government can take away – a plan to build Canada strong.

Central to that plan is building – major infrastructure, millions more homes, and strong communities. To that end, the Government of Canada launched Build Canada Homes which will help double the pace of homebuilding over the next decade to increase housing supply, alongside other measures. It will also transform public-private collaboration and deploy modern methods of construction, as it catalyses the creation of an entirely new Canadian housing industry. This new federal agency will build affordable housing at scale, including transitional and supportive housing, deeply affordable and community housing, and affordable homes for the Canadian middle class. 

As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working together with the private and non-profit sectors to bring down costs and build homes at a scale and pace not seen in generations. These investments are also providing Canadians with increased access to affordable and sustainable housing.

Solving Canada’s housing crisis requires immediate action to bring down costs, cut red tape, and build homes more quickly. As part of the Government of Canada’s broader efforts to respond to the housing crisis, work is being done across the housing continuum to respond to the needs of communities across Canada.

To that end the Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partnered organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. Today, the governments of Canada and New-Brunswick announced over $1.3 million in combined funding to help repair 39 secure, rental homes for seniors in Moncton.

The building is a multi-unit residential property focused on preserving its historic character while providing modern, accessible, and energy-efficient housing for seniors. As part of the renovation, new small balconies will be installed to support mini-split heat pumps, offering both heating and air conditioning for residents’ comfort. A new 1,600 sq. ft. community room will provide much-needed shared space, and a new elevator will improve accessibility and ensure safe access in emergencies. The building will feature five fully accessible units and ten semi-accessible units, all equipped with “aging-in-place” features in both private and common areas. The project is designed to enhance residents’ independence, comfort, and quality of life while maintaining the building’s long-term sustainability.

The announcement was made by the Honourable Ginette Petitpas Taylor, Member of Parliament for Moncton–Dieppe, on behalf of the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, alongside the Honourable David Hickey, Minister responsible for the New Brunswick Housing Corporation.

The past year has revealed there are limits to Canada’s economic independence. Budget 2025 is tackling that challenge head on. It is our plan to take control and build the future we want for ourselves. It is our plan to build Canada Strong.

Quotes:

“Our Government is focused on delivering housing for the people of Moncton and across the country. Supporting the Affordable Housing Fund is one of the ways we do that. I’m proud of our involvement in this project, and of the tangible difference it will make for people in this community.” – The Honourable Ginette Petitpas Taylor, Member of Parliament for Moncton–Dieppe

“We were able to secure and stabilize this seniors community through Housing NB’s Non-Profit and Co-operative Housing program, which will ensure these residents are able to stay in their homes going forward. By maintaining this building, we’re helping these residents continue to live independently as they benefit from a safe, stable and affordable living arrangement.” – The Honourable David Hickey, Minister responsible for the New Brunswick Housing Corporation

“At Start to Finish Property Management, we are proud to be part of a project that directly supports seniors in our community. The funding provided through the Affordable Housing Fund is a meaningful investment in the well-being and dignity of older adults in Moncton. Golden Terraces represents more than just housing–it’s about creating a safe, inclusive, and supportive environment where seniors can thrive. We’re grateful for the collaboration with CMHC and all partners involved in making this vision a reality. We also want to thank CMHC, the Province of New Brunswick, and all the dedicated members of the beautiful Golden Terraces community. The long wait is finally over. Together, we’re building a better tomorrow–one where seniors can age in place, stay longer in their homes, and enjoy safety, happiness, and warmth every day.” — Sandra Agudelo, Senior Property Manager, Start to Finish Property Management

Quick Facts:

• The Affordable Housing Fund (AHF) provides funding through low-interest and/or forgivable loans or contributions to partnered organizations for new affordable housing and the renovation and repair of existing, affordable and community housing. This is a $16.1 billion program under the National Housing Strategy (NHS) that gives priority to projects that help people who need it most, including women and children fleeing family violence, seniors, Indigenous Peoples, people living with disabilities, those with mental health or addiction issues, Veterans, and young adults.
  • As of June 2025, the Government of Canada has committed $12.91 billion to support the creation of over 50,300 units and the repair of over 174,600 units through the Affordable Housing Fund.
  • On September 19, 2025, the Government of Canada announced $1.5 billion top-up in loans for the Affordable Housing Fund’s New Construction Stream, to support the creation of over 5,000 new units starting in 2025-26. Additionally, the Affordable Housing Fund’s Rapid Housing Sub-Stream will be accelerated, by pulling $385 million in funding from future years. 
• Funding for this project is as follows:
  • $550,652 from the federal government, through the National Housing Strategy’s Affordable Housing Fund
  • $750,978 in forgivable loan from Housing New Brunswick
  • $150,000 from Golden Terraces Seniors Housing Co-operative Ltd.

Additional Information:

• Visit canada.ca/housing for the most-requested Government of Canada housing information. 
• Learn more about BCH
• CMHC plays a critical role as a national facilitator to promote stability and sustainability in Canada’s housing finance system. Our mortgage insurance products support access to homeownership and the creation and maintenance of rental supply. We also actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Follow us on X, YouTube, LinkedIn, Facebook and Instagram. 

SOURCE Canada Mortgage and Housing Corporation (CMHC)