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 the Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec Soraya Martinez Ferrada, the Minister responsible for Housing of Quebec France-Élaine Duranceau, the Mayor of Montreal Valérie Plante, as well as other elected officials.
The new model provides for other construction starts, not just the 1,001 new affordable housing units.
“The new business model consists of financially supporting affordable housing projects led by groups of experienced developers recognized for their efficiency by the Société d’habitation du Québec (SHQ),” we can read in the press release issued by the various governments.
The announcement took place in the Locoshop Angus, in the east end of Montreal.
The Angus Development Corporation (SDA) will also be the first to join the SHQ’s qualified developer sector.
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.
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