N.S. non-profit hopes post-secondary students will contribute to off-campus housing fund
A Nova Scotia non-profit organization, Student Housing Nova Scotia, is proposing a province-wide plan to generate millions of dollars for off-campus housing initiatives that will be supported by university and college students. The organization, led by executive director Mitchell Archibald, aims to expand its housing stock through the Developing Affordable Student Housing Fund. Currently, Student Housing Nova Scotia owns 11 units near Acadia University in Wolfville, N.S.
Archibald highlighted the need for capital to kickstart new projects or acquire existing properties, emphasizing that additional funding would accelerate their initiatives. The organization’s next step involves rallying university and college students to contribute $5 each semester towards the fund. Campuses across the province will conduct referendums to decide on joining the initiative.
The Developing Affordable Student Housing Fund draws inspiration from Montreal-based Utile, which currently manages 600 units and anticipates completing 3,000 units by 2028. Maxime Pelletier, assistant director of government affairs at Utile, stressed the importance of maintaining affordable rents to benefit not only student residents but also other renters, including families.
Prajwal Shetty, chair of Students Nova Scotia, expressed enthusiasm for the Developing Affordable Student Housing Fund, citing the financial challenges faced by students in addition to high tuition fees and living costs. Shetty emphasized the need to address affordability barriers in accessing education.
In response to these challenges, the provincial Department of Advanced Education stated that it updated the formula for calculating student assistance to align with federal programs, taking into account current housing and living costs for students. Premier Tim Houston highlighted ongoing efforts to expand on-campus housing options for students, with two residences completed on NSCC campuses and five more in progress.
As part of university funding agreements, the province has set conditions for institutions to work towards providing on-campus housing for 15% of students. Dalhousie University and Cape Breton University have been tasked with submitting evidence of development permit applications by a specified deadline.
Archibald revealed that a portion of the funds raised will be allocated towards supporting students through bursaries and financial aid. When new units are constructed, they will be rented out below market rates to make them more affordable for students. The overarching goal is to address the financial burden faced by students pursuing higher education and provide them with viable housing options.
