Saint John is unique as well in that we have a very high vacancy rate. The fact that we have a high vacancy rate means that we do not have developers interested in coming in and developing new housing units. Unfortunately, that vacancy rate exists within that older housing stock and now are substandard to housing stock. That has created issues for us in that developers are not able to access financing as a result of the market. However, the provincial government, through the affordable rental housing program, the cost-shared provincial housing program, has opened it to private developers. They are able to access capital grant for affordable housing units for up to 50% of the development, as well as access the rent supplement program.
On February 9th, 2017. See this statement in context.