Asset management framework for publicly-owned housing

The Government of Nova Scotia and Nova Scotia Provincial Housing Agency have developed an Asset Management Framework to make sure publicly-owned housing assets are leveraged to their full capacity. The framework helps grow and sustain affordable housing options throughout the province.

About asset management

Publicly-owned housing assets include single-family dwellings, multi-unit dwellings and vacant residential land parcels located throughout the province. Many of these assets are currently owned by the Government of Nova Scotia and managed by Nova Scotia Provincial Housing Agency.

Asset management is the process of making decisions about the use and care of assets in a way that considers current and future needs, manages risks and opportunities and makes the best use of resources.

For publicly-owned housing assets in Nova Scotia, asset management involves strategic decision making to support long-term sustainability of assets. Asset management is not about routine maintenance or repairs that fall under regular capital planning processes.

The Government of Nova Scotia and Nova Scotia Provincial Housing Agency have developed an Asset Management Framework (PDF) to make sure publicly-owned housing assets are leveraged to their full capacity. The framework helps grow and sustain affordable housing options throughout the province.

Asset management streams

Asset management is comprised of 4 possible streams. Building strong partnerships with the community and the housing sector is a fundamental goal within all these streams of work.

Stream	Overview
Repair/Reinvest	Involves retaining the assets with a significant investment for substantial repairs in order to maintain publicly-owned affordable housing assets.
Build	Involves the creation of new publicly-owned housing units. Options for the build stream could include (but not limited to): building new units on existing vacant land owned by the government purchasing or acquiring new units repurposing existing assets (like non-residential buildings) for public housing
Transform	Involves transfer of publicly-owned assets with potential for redevelopment or expansion to community housing providers to increase affordable housing capacity.
Divest	Involves the sale or transfer of assets, especially assets that have been chronically vacant or are in an area with low demand for housing. Options to divest include: sale to existing tenants sale to community partner transfer to government partner means-tested sale market sale