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Quebec  + Multi-residential Housing  | 
Apartments under construction.

Feds Invest $925M in Montreal Rental Housing Projects

The federal government is investing $925 million in 20 rental-housing projects in Montreal.

The investment will be in the form of fully repayable low-interest loans, federal officials announced Thursday at a news conference in the city.

The money will be used to construct 2,976 purpose-built homes in Montreal and on the city’s north and south shores. Funds will be provided through the federal government’s Rental Construction Financing Initiative (RCFi).

RCFi complements national housing strategy programs that focus on funding affordable housing units. The federal money comes as opponents are seeking to scrap the City of Montreal’s housing bylaw, which has not led to any new affordable housing projects in its two years of existence.

Citing high costs, developers have opted to pay fines or relinquish properties instead.

Ottawa says RCFi 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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