Maria Browne says Rent-to-Own Housing Will be expanded if Re-elected

— Housing and Works Minister Maria Browne says a re-elected administration will expand rent-to-own housing options, targeting residents who are unable to meet traditional bank financing requirements.

Speaking during a “Know Your Candidate” interview, Browne pointed to the planned Renaissance Park development in St. John’s Rural East as a flagship project, describing it as a response to growing demand for more accessible pathways to home ownership.  

She said the model is designed for individuals and families who can afford monthly payments but struggle to qualify for mortgages through commercial banks.

“Many single parents, many individuals, families cannot meet the requirements for the bank, but yet they can pay… a rental fee,” Browne said, adding that the initiative is intended to bridge that gap.  

The Renaissance Park project will include a mix of townhouses and single-family homes, with units offered under rent-to-own arrangements. Browne said the development is expected to be built on lands currently occupied by the Clarevue facility, which is set to relocate.

“We’re going to have… townhouse style and also some single detached homes… and they’re going to be rent-to-own,” she said.  

Construction is projected to take approximately two to two-and-a-half years once the site is cleared and preparatory work is completed.

Beyond Renaissance Park, Browne said the rent-to-own concept will be extended to other communities, forming part of a broader housing strategy aimed at increasing ownership opportunities.

“We’re going to have rent-to-own opportunities in various communities, not just Renaissance Park,” she said.  

The minister framed the initiative as a key element of economic empowerment, linking housing access to long-term financial stability for residents.

The general election is scheduled for April 30.

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