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‘Game-changer’ housing project in Sydney hits a snag

Backers say more funding is needed from federal Crown corporation

Plans to create 430 rental units at the site of Tartan Downs, a former harness racing track in Sydney, N.S., are stalled due to a lack of funding, says its promoters.

Cape Breton University (CBU) and the non-profit group Urban Neighbourhood Development Association says the project would address a housing shortage in the community.

It has so far received $100,000 from Canadian Mortgage and Housing Corporation (CMHC). But backers say work can’t go forward without more money from the Crown corporation responsible for administering Ottawa’s 10-year, $72-billion National Housing Strategy.

CBU vice-president of operations and finance, Gordon MacInnis, said rural and suburban projects will require more investment.

“I think the project is nearing the point where we’re either going to have a green light to go or we’re going to suggest that the project is not feasible,” MacInnis said in an interview with Cape Breton’s Information Morning. …[Read More]