The real estate arm of the City of Montreal is purchasing 140 housing units in Mercier–Hochelaga-Maisonneuve and plans to add more than 800 others to its portfolio by 2027.
The Société d’habitation et de développement de Montréal (SHDM) could in particular inherit some of the land purchased by the Plante administration in recent years.
Tuesday, Valérie Plante announced that the City would devote “at least 40 million” to this project, with an initial payment of 5 million.
“We are showing our real desire to support the creation and protection of off-market units,” she said. “When we have sustainable affordable housing, which lasts over time and remains accessible, it has a positive effect on the entire market so that the rise in prices is not mind-blowing. »
The exact location of the 140 housing units will only be revealed on Wednesday.
Of the 1,000 housing units that the SHDM must add to its real estate portfolio in the next three years, 300 will be dedicated to vulnerable tenants.