Yesterday, a significant funding boost of $300,000 was announced by the provincial government to the Community Loan Fund to assist with the construction of a new building on Prince Edward Street. When completed, the 15,000-square-foot Social Enterprise Hub will house the Community Loan Fund, Saint John Learning Exchange, and various emerging small entrepreneurs.
Despite Saint John's high vacancy rate, Randy Hatfield of the Human Development Council explains an accessible, state-of-the art facility is needed in that area.
Hatfield says while there are indeed many properties available in the uptown, many of the vacant units tend to be inaccessible or unsuitable for the needs of so many diverse groups.
The Community Loan Fund is currently working to secure further funding. More details are expected to emerge about the project in the coming months.