The Canadian government, together with Quebec and the City of Montreal, have unveiled exciting plans to build 1,001 affordable homes in Montreal and Rimouski. This initiative is made possible through a new fast-track housing program that aims to provide much-needed housing options for residents in these communities.
Developer Société de développement Angus will receive $193.5 million in subsidies to quickly build 677 units in Montreal and 324 in Rimouski. This funding covers approximately half of the total cost to construct the units, which will be required to remain affordable for at least 35 years. The rental prices will be set by the provincial housing agency to ensure affordability for residents.
The new homes are part of a new business model that expedites the process of building affordable housing by partnering with experienced developers known for their efficiency. Developers interested in participating in the program can apply, and selections will be made based on criteria such as past construction quality and the ability to meet budgets and deadlines.
Quebec Housing Minister France-Élaine Duranceau highlights the importance of this program in addressing the housing needs of residents in these communities. Both the City of Montreal and Rimouski are also contributing to the funding for these homes, demonstrating a collaborative effort to tackle the affordable housing crisis.
This innovative approach to affordable housing construction shows a commitment from government entities and developers to work together to create sustainable housing solutions for Canadians. By streamlining the process and leveraging the expertise of experienced developers, these new units will help address the growing demand for affordable housing in Montreal and Rimouski.
Overall, this fast-track housing program represents a significant step towards providing accessible and affordable housing options for residents in need. With a focus on efficiency and quality construction, these new units will make a meaningful impact in addressing the affordable housing challenge in these communities.
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