New Brunswick’s social development minister Bruce Fitch announced the province will match municipal funding for an affordable housing project in Moncton, essentially saving the project.

The provincial government is giving $6 million to the Rising Tides Project, which is looking to provide 125 affordable units over three years, beginning with the chronically homeless.

One of the group’s founders says they hope to begin making offers on properties in January.

“We’re looking at properties now,” said Dale Hicks.

“We’ve had a list now for a year. It’s an evolving list that’s probably changed from what it originally was because every time you turn around, with the hot market we’re in, you look at a property and tomorrow it’s off the list because it’s sold now.”

Hicks said the group must decide what sort of properties it will begin acquiring: derelict homes that must be restored, move-in ready, or vacant land where modular homes can be built.

Of the $12 million promised to the project over the next three years, Hicks says $8 million will go towards properties, while the remainder will go towards staff and property maintenance.

Rising Tide is looking to hire case workers, beginning with a case worker manager who will oversee the other seven to eight case workers.

Hicks says the goal is to get 25 people housed this year, but that could change should they receive federal funding from the Rapid Housing Initiative.

“We were looking at 25 units or people being housed in year one in the original plan, but if we get that funding in place that could jump from 25 to probably 75 in the first year,” he said.