The federal government has invested about $71 million in a multi-family rental real estate project in Montreal’s Côte-des-Neiges–Notre-Dame-de-Grâce bureau.

Plans call for the Exal NDG project on Saint-Jacques Street to contain 207 purpose-built rental units in Montreal. Groupe Mach, Sarees Investments and Construgep are developing the project together.

“We are all very pleased to contribute to this major investment for the EXAL banner, an innovative project that embodies our vision of high value-added, sustainable real estate development,” said Vincent Chiara, president of Groupe Mach.

The federal money is being provided through fully repayable, low-interest loans under Ottawa’s Apartment Construction Loan Program (ACLP), which seeks to boost rental housing development across the country.

Exal NDG aims to achieve LEED Homes and WELL certifications for sustainable design and construction that promote the health and well-being of future residents. The project features eco-friendly initiatives, including exclusive access to electric car sharing for residents and a rooftop urban garden for seasonal vegetable production.

The ACLP supports the creation of more than 131,000 apartments across Canada by offering low-cost loans to developers to stimulate rental housing construction.

Rendering: Exal NDG