Montreal Developers Choose Fines Over Social Housing
Montreal developers prefer to pay fines and hand over properties rather
than build new social housing units, says the city’s official opposition party.
Citing data that it compiled, Ensemble Montreal says no social units have been constructed since the city enacted a new housing bylaw two years ago. The party has called on city hall to incentivize developers.
Mayor Valerie Plante attributed the situation to a lack of provincial funding.
“The Quebec government has its foot on the brake,” she told CBC.
The controversial bylaw requires developers to pay a fine or relinquish land, buildings or individual units to the city if new projects exceeding 4,843 square feet do not contain social-housing components. CBC reported that private developers have built 150 new projects, a total of 7,100 housing units, since the bylaw effect in April 2021.
But only $24.5 million has been collected from developers, according to the network.
Photo: Catherine Zibo / Shutterstock.com
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.