Desjardins Group has launched the Amplifier fund, a $50-million initiative aimed at accelerating the development of sustainable, affordable housing across Quebec.

The fund will support non-profit organizations and co-operatives with projects that exceed energy efficiency requirements, fully exclude fossil fuels, and meet the affordability standards set by the Quebec Affordable Housing Program.

Funded by Desjardins Capital in collaboration with the Société d’habitation du Québec and philanthropic partners including the Fondation Marcelle et Jean Coutu, the fund offers patient capital to advance community-led housing initiatives. Projects will be guided by Desjardins’ Affordable Housing Initiative team, which is already involved in the creation of over 3,000 affordable units.

“Responding to the housing crisis means building more,” said Marie-Josée Coutu, president of the Fondation Marcelle et Jean Coutu. “But it also means building better by focusing on sustainable, equitable and community-based projects.

“The Amplifier fund embodies this vision with a clear image of the future.”

Jane Rabinowicz, president and CEO of the McConnell Foundation, said the investment project shows that affordability and sustainability can be combined and climate change and affordability can be tackled at once.

“It also proves that the philanthropic sector can use its funds to address pressing social issues,” she said.

Photo: Desjardins Group