Reducing Barriers for Condominium Developments to Fight Housing Crisis.
The Province is taking more action on housing by reducing barriers for condominium developments.
The changes will lower overall fees for most new and phased projects, making large-scale condo developments more cost-effective.
“Reducing barriers for condominium development is another way that government is supporting the housing challenges we’re seeing in the province,” said Colton LeBlanc, Minister of Service Nova Scotia. “This crisis won’t be fixed by any one solution, and we’re exploring every opportunity we can to create more housing for Nova Scotians.”
The new fee structure will combine the current base amount with a new per-unit fee. The previous value-based structure charged developers a per-unit fee based on the advertised sale price, which resulted in high registration fees for large developments.
The amendments, in regulations under the Condominium Act, will make it easier for developers to predict in advance the fees they will owe. The changes will also result in an overall reduction in the total registration fees levied by the government.
These changes are among the ways the Province is working to increase housing and affordable housing for Nova Scotians, including:
- increased investment in the Affordable Housing Development Program to support the creation of new affordable housing supply
- the Land for Housing Program, which makes unused or vacant government-owned land available for residential development opportunities
- the Community Housing Acquisition Program, which provides low-interest loans to community housing organizations to acquire affordable housing units
- the Secondary and Backyard Suite Incentive Program, which will see $8 million invested over three years to support the creation of 300 affordable suites
- historic investments in public housing that will see the creation of 273 new units to house 700 more people
- a historic provincial investment in municipal infrastructure to help support growth in municipalities across the province through the Municipal Capital Growth Program
- recent investments in on-campus student housing, with a total of 620 new student housing spaces for Nova Scotia Community College announced since 2021.
Source : Provincial Release
