St. John’s City Council has approved $500,000 in funding for capital improvements to non-profit affordable housing units in Cuckholds Cove, Forest Road, Alexander Street, and Hamilton Avenue.
Over 55 of the city’s 400+ units are scheduled for improvements including roof repair, shingle replacement, and flooring replacement. “Providing affordable housing options for residents is the foundation of a safe, prosperous, and healthy community,” said Councillor Jonathan Galgay.
What is Affordable Housing and Why Is It Needed?
To be considered affordable, a housing option must cost less than 30% of household income before taxes. And in this housing market, the task of securing affordable housing is becoming extremely difficult for people across the income and age spectrum, and for those with challenges in their health, abilities, and so on.
Beyond the simple decency of ensuring everyone has a comfortable and secure home, investment in affordable housing helps to ensure healthy independent living for seniors, and it prevents leaving people “house poor,” in poverty, and unable to contribute to society, the economy, our workforce.
Many of people living in affordable housing are not eligible for government assistance, but cannot afford to rent or buy in this current housing market. Helping people in this group to find secure housing relieves pressure on the housing market, and the emergency services required by people in housing crisis. Funding affordable housing is a proactive approach that creates a healthier community and saves taxpayers money.