CHAP supports purchasing existing multi-unit residential properties by community housing providers in Nova Scotia to preserve affordable housing and expand the supply of non-market housing. Funding is available as a fixed-interest rate repayable loan. Variable terms of up to 30 years are available. Maximum loan amount available is $10 million per project amortized over a maximum of 30 years.
The program is open to community housing providers in Nova Scotia, including co-operatives or non-profit societies, to support the purchase of existing multi-unit properties to preserve existing affordable housing and expand the community housing sector in the province.