The Government of PEI, through the Department of Social Development and Housing has committed $5 million over two years for infrastructure to support new residential development in centrally serviced municipalities in rural Prince Edward Island. The program will be managed by the Federation of PEI Municipalities and municipalities will be engaged in the program design over the coming weeks.
“This exciting new program will help strengthen and grow rural service centres across the Island, while supporting home ownership for low to moderate income people who are currently priced out of the market,” said FPEIM President Bruce MacDougall. “The rapidly rising price of housing is creating hardship for many Islanders, and the Federation is very happy to be working with the province and municipalities to help address this growing challenge,” he added.
This program responds directly to a resolution adopted by mayors and councillors from across the province, which recommended that a financial support program be created to support the development of residential building lots in rural centrally serviced municipalities.