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Quebec  + Multi-residential Housing  |  November 20, 2023
Apartments under construction.
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By: Monte Stewart

Feds Invest $76.2M in Quebec City Rental Housing Projects

The federal government is investing $76.2 million in eight rental-housing projects in the Quebec City region.

The projects comprise 341 purpose-built rental homes in the Quebec City and Lévis areas. The investment will be in the form of fully repayable low-interest loans, federal officials announced.

Funds will be provided through the federal government’s Rental Construction Financing Initiative (RCFi).

The Quebec City investments are among $4.1 billion in recently announced RCFi loans covering 12,000 purpose-built rental units in 73 projects across Canada.

The funding included $925 million for 20 projects in Montreal.

RCFi complements national housing strategy programs that focus on funding affordable housing units. Ottawa says the loan program is encouraging the development of more than 71,000 rental units.

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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.
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