New affordable housing to come to Acadia University community

The Pleasant Street property in Wolfville, N.S., is pictured. (Courtesy of the Government of Nova Scotia)

A five-storey building less than one kilometre from Acadia University is set to provide affordable housing units in Wolfville, N.S.

Student Housing Nova Scotia, a non-profit, bought the building with $8.6 million in loans from the province.

Located on Pleasant Street, the property will be used as affordable housing for students and the broader community.

“Affordable housing can be a meaningful stepping stone, giving people the stability they need to build their lives and plan for the future,” Julie Vanexan, MLA for Kings South, says in a news release from the province.

The project also received $521,600 from the Community Housing Capital Fund and $25,000 from the Community Housing Growth Fund, managed on behalf of the province.

Vanexan says the partnership with Student Housing Nova Scotia will keep homes affordable in the area while supporting students through their studies.

The units range from studios to three-bedroom apartments, many of which are below average market rates.

Current residents of the building will not be displaced, according to the province.

Students will be given priority when units become available, but enrolment at a post-secondary institution is not a requirement.

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