Last week, the federal government announced it will offer low-cost loans to build more student housing on and off campuses. A release from the government states by reforming the Apartment Construction Loan Program, they will help more students find housing they can afford close to where they study while also ensuring there are more homes available for families living in the same communities year-round.
Central Nova MP and Housing minister Sean Fraser said college and university towns, like Antigonish with STFX University and Pictou with its NSCC campus, see pressures on the local rental market with the influx of students. He said it doesn’t take a lot of analysis to figure out those pressures can drive up the cost of rent.
Fraser said giving access to student residences for these programs will help students and the general public find places they can afford to live in college and university towns across Canada.