A new housing project is underway in Saint John, NB, supported by a combined investment of $46 million from the federal government, $2.1 million from the Province of New Brunswick, and $310,000 from the City of Saint John. Located at 99 King Street, the 152-unit development will include two levels of underground parking and a floor dedicated to retail and commercial space, with completion targeted for October 2026. Of the units, 32 will be reserved as affordable housing for seniors and people with disabilities.

“Through investments in rental housing, our government is providing assistance to those who need it most, here in New Brunswick and across the country,” said Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada. “We are committed to revitalizing communities through initiatives like this one. These investments are helping to create jobs and stimulate the local economy.”

The federal government emphasized that the investment is part of a larger plan—Build Canada Strong—which aims to strengthen Canada’s economic independence and ensure communities have access to affordable housing. Build Canada Homes will focus on increasing the pace of affordable homebuilding, constructing transitional and supportive housing, and partnering with provinces, municipalities, Indigenous communities, and private developers to expand housing supply for both low-income households and the middle class.

“Our government is committed to working with all partners to rise to address the housing crisis in Canada and New Brunswick,” said Wayne Long, Secretary of State (Canada Revenue Agency and Financial Institutions) and Member of Parliament for Saint John–Kennebecasis. “Today’s announcement confirms more than 150 new rental housing units for the population of Saint John. By using all the tools at our disposal, we will overcome this crisis. Through the Apartment Construction Loan Program, our government is increasing the supply of rental housing by investing more than $46 million. This housing supply will benefit middle-class individuals and families and will have a positive impact on our economy.”