Rising Tide Community Initiatives Inc., the local non-profit dedicated to affordable housing, has created 59 units in Moncton as of this month out of a planned 125.
In a regular update to city council this week, Rising Tide president Dale Hicks said 56 units are planned next consisting of seven buildings with eight units each.
“We have properties where we’ve already purchased the land. We have seven pieces of land across the city in different wards.”
Hicks said another project is also on the horizon and will contain the remaining units planned.
“It’s a commercial building that would be retrofitted to put a minimum of 10 units of one bedroom housing in there. We’re hoping to get that finalized shortly.”
Hicks noted an additional project in Dieppe last year created 28 new housing units for families fleeing domestic violence with funding from the federal government.
Future plans include a 24-unit intergenerational building comprised of senior women and single mothers at Purdy and Killam Drive.
The City of Moncton is among the funding partners for Rising Tide and council committed $6 million to the non-profit over a three year period.
With contributions from the city, along with the federal and provincial governments, Rising Tide had almost $11.4 million in capital funds to end 2022 and nearly $8.1 million for 2023.
Hicks added support from the city has gone beyond the capital contribution and he recognized the efforts of city officials to help in their goal of creating affordable housing.
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