N.B., Ottawa announce $1.7M to repair affordable seniors housing complex in Moncton

Dozens of affordable housing units in Moncton will get much-needed upgrades.

Government spending on renovations at an affordable seniors housing complex in Moncton, N.B., is welcome news for people living there and for the property manager.

The federal and provincial governments announced Wednesday they would be spending over $1.7 million to help repair 39 units at Golden Terraces on High Street in the city’s downtown.

Renovations to the outside and inside of the 32-year-old building include new balconies for mini-split heat pumps, upgrades to the electrical system, insulation, siding and windows, a new elevator to improve accessibility and a new community room.

Property manager Sandra Agudelo said the Golden Terraces Seniors Housing Co-op applied for government money four years ago and, if it hadn’t come through, the building would have probably closed.

Agudelo said there’s currently a waiting list of 300 people at the four-storey building, which is home to people aged 63 to 100.

“The rents start at $625 to $735 for one and two-bedrooms,” said Agudelo.

Resident Julia Shehan, who has lived there for a year-and-a-half, said the siding was in terrible shape before renovations began.

She didn’t realize the building could have closed without the government money.

“I don’t know what I would have done because the apartments are $1,500 for one bedroom. I can’t afford that,” said Shehan.

New Brunswick Housing Corporation Minister David Hickey acknowledged there is an affordable housing crisis in the province right now so it’s important to protect and maintain older buildings.

“The urgency was obvious here,” said Hickey.

Hickey said there’s a crisis in maintenance and infrastructure spending in the province.

“Making sure that we make those investments to protect the lifespan of these buildings allows not only the folks that live here a lot more dignity in the state of their homes, but also an ability to extend the lifespan of these types of buildings,” said Hickey.

He also acknowledged the housing crisis Moncton is facing.

“It’s not hard to see the impact that both the housing crisis and the homelessness crisis have had on this community and our government’s message is, we need to act,” said Hickey.

The province spent $600,000 on improvements in 2022-23 and another $600,000 in 2025-26.

During Wednesday’s announcement, Moncton-Dieppe MP Ginette Petitpas Taylor said the federal government would spend more than $500,000 on the renovations.

As part of the upgrades, there will also be five fully accessible units and 10 semi-accessible units at Golden Terraces.

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