Upgrades will be done to a 39-unit seniors complex in Moncton.
The Golden Terraces Seniors Housing complex is located on High Street and provides affordable housing to those aged 55 and older.
The New Brunswick Funding Housing Corporation is providing $600,000 for the 2025/2026 fiscal year, in addition to the $600,000 provided for the 2022/2023 fiscal year.
The 32-year-old building needs extensive work.
Renovations include new small balconies to support new mini-split heat pumps, a 1,600-square-foot community room, a new elevator, electrical, siding, and window upgrades, and fencing.
The Canada Mortgage and Housing Corporation also contributed $550,000 to the Affordable Housing Fund.
Monthly rents range from $660 for one-bedroom units to $725 for larger, two-bedroom spaces.
