The federal government has announced a more than $23-million investment in 132 purpose-built rental homes in the Fredericton area.
According to a news release, the project, located at 650 Waterloo Row and called Micro Boutique Living Fredericton, will offer studios and bedrooms ranging in sizes from 250 to 1,000-square feet.
The funding for the project will come as full repayable low-interest loans through the Rental Construction Financing Initiative.
"We need to boost housing supply, this is why we are making strategic investments, through programs like the Rental Construction Financing Initiative, to build much-needed rental units across the country,” said Sean Fraser, federal minister of housing, infrastructure, and communities, in the release. “All Canadians deserve a safe place to build and live their lives in, and we will ensure this becomes a reality.”
In the release, Chris Galea and Alyson Roberts, the owners of Micro Boutique Living, said they have more than 200 people living in the building.
