The NDP has announced details of its NL Homes Plan, which would see spending of up to $150-million annually to build 1,000 new homes across the province each year.
Leader Jim Dinn made the campaign promise on Livingstone Street in St. John’s this morning.
Dinn says the homes would be publicly-owned and accessible.
Part of the party’s plan includes the creation of a new Crown corporation, which will be called NL Homes.
He says they would be responsible for raising the capital for construction. Then, he says the project would either be turned over NL Housing or to not-for-profits to run.
Dinn says the funds would be recovered over a longer amortization period of 40 years, to ensure costs are affordable.
