December 5, 2024 | For Immediate Release
Student Housing Nova Scotia Launches the Developing Affordable Student Housing Fund
HALIFAX, NS – Student Housing Nova Scotia is excited to announce the launch of the Developing Affordable Student Housing (DASH) Fund, a bold new initiative designed to empower post-secondary students to play a direct role in tackling the housing crisis and creating new affordable housing options.
“The DASH Fund is the first province-wide student housing fund in Canada, and will give students an opportunity to contribute to building an affordable future for less than the cost of lunch,” said Mitchell Archibald, Executive Director of Student Housing Nova Scotia. Students will decide if their campus joins the DASH Fund by voting in a referendum. If that vote is successful, the proposed approach would see each student contribute just $5 per semester as part of their student fees. “Our goal is to give every post-secondary student in Nova Scotia an opportunity to join within the next two years by working with student unions to hold referendum votes on their campuses,” said Archibald.
With the ability to multiply student contributions up to 20x by leveraging various funding programs and sources, the DASH Fund has the potential to generate over $12 million every year to fund student housing development and acquisition. Over several years, this will support the creation of hundreds of rental units for students across the province at prices they can afford. Initially, up to 10% of funds will also be used to support students through bursaries and financial aid, ensuring they benefit from the DASH Fund on day one.
“Students are facing an unprecedented housing crisis, and the DASH Fund has the potential to have a significant long-term impact on housing affordability” said Prajwal Shetty, Chair of Students Nova Scotia. “Having non-profit led, student driven housing options are crucial to Nova Scotia’s path forward and we look forward to seeing the results of the campaigns.”
The DASH Fund was developed based on a successful model initially used by UTILE, a Montreal-based non-profit organization that has built over 500 affordable units for students in Quebec, with more than a thousand additional units in development.
“We want to make Nova Scotia a leader in student housing, while supporting students for generations to come” said Archibald. “The DASH Fund will allow us to provide more housing that students need, which is critical if Nova Scotia is going to attract, train, and retain the skilled workers needed to grow and move our province forward.”
About Student Housing Nova Scotia
Student Housing Nova Scotia is a non-profit organization that develops, operates, and advocates for housing that meets the needs of post-secondary students in Nova Scotia. For more than 50 years we have provided secure and affordable housing to thousands of students. Over the last 10 years our units have been priced an average of $300 to $500 less than comparable market rents. As a result, we have saved students millions of dollars in rental costs. Beyond providing housing, we conduct and facilitate research on student housing, while developing and supporting initiatives that deliver housing programs and resources to students. This fall, our 2024 Student Housing Outlook Survey was completed by over 1,200 post-secondary students from across the province, the results of which will be published in early 2025. We also engage with all levels of government to advocate for policies and programs to support affordable and non-market student housing development.