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Pacific Canada  + Canada  + Multi-residential Housing  | 
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Feds, Province, City Invest in Montreal Affordable Housing

The federal government, Quebec and City of Montreal have announced an agreement to invest more than $45 million in four Montreal affordable housing projects.

The developments will add 191 units to the local affordable housing supply. The total cost of the project is estimated to be $80.5 million.

The federal government will provide $32 million via three phases of the Canada-Quebec Rapid Housing Initiative (RHI) agreement. The RHI is administered by the Canada Mortgage and Housing Corporation.

The Quebec government will supply $8 million under the provincial housing society’s AccèsLogis Québec program.

In addition, 173 units will be eligible for the province’s rent supplement program, valued as a $5-million contribution. The province will fund 90% of the contribution while the City of Montreal furnishes 10%.

The city will directly contribute $5.8 million and other, according to a news release. Other unidentified investors will provide the remaining funds.


Inside The Story

CMHCCity of Montreal

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.

  • ◦Development
  • ◦Financing
  • ◦Policy/Gov't
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