The governments of Canada, Quebec and the City of Montreal announced the construction of 1,001 new affordable housing units on Friday, thanks to the creation of a “fast track for qualified developers.”
The announcement was made in the presence of Soraya Martinez Ferrada, Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec, Quebec Housing Minister France-Élaine Duranceau, Montreal Mayor Valérie Plante, and other elected officials.
The new model provides for other housing starts, not just the 1,001 new affordable homes.
“The new business model consists of providing financial support for affordable housing projects undertaken by groups of experienced developers recognized for their efficiency by the Société d’habitation du Québec (SHQ),” reads the news release issued by the various governments.
The announcement took place in the Locoshop Angus, in the east end of Montreal.
The Société de développement Angus (SDA) will be the first to join the SHQ’s network of qualified developers.
The SDA will receive a subsidy of nearly $193.5 million to build 1,001 new housing units, including 677 in Montreal and 324 in Rimouski.
This report by The Canadian Press was first published in French on Aug. 30, 2024.