CHARLOTTETOWN — The P.E.I. government announced that part of its plan to address the province’s housing shortage is finding a company to manufacture modular homes on the Island.
The government says it is prepared to offer financial incentives to bidders willing to move quickly to fast track housing starts. Like other provinces, Prince Edward Island is dealing with a housing crisis exacerbated by labour market shortages, increased construction costs and higher interest rates. As well, the province’s population has grown by 14 per cent in the past five years, the highest growth rate in Canada.
In February, the P.E.I. government released a housing strategy that includes 20 initiatives aimed at ensuring all residents have access to adequate, affordable housing.