Investments totalling $1.6 million by the federal and provincial governments will help create and renovate 56 affordable housing units in northeastern New Brunswick.

Funding has been allocated to four non-profit organizations in Bertrand, Caraquet, Beresford and Tracadie under the Canada-New Brunswick Bilateral Agreement on affordable housing.

The Affordable Rental Housing Program provides financial assistance to private entrepreneurs, private non-profit corporations, and co-operatives for the construction, repair, and conversion of rental housing projects. Assistance is in the form of forgivable loans and is based upon the cost of eligible work and the number of eligible self-contained units or bed units within a project.