The mayor of Montreal, Valérie Plante, announced Tuesday an agreement concluded with the Société d’habitation et de développement de Montréal (SHDM) aimed at building or acquiring 1,000 “off-market” housing units within three years.
“To house more Montrealers, we must build more and protect more existing units from speculation,” said Ms. Plante during a press briefing held in the Saint-Henri district.
To achieve this, the City specified that it had reached an agreement with the SHDM to give it more autonomy so that it “can develop more non-market units more quickly,” said the mayor.
Of these, 300 accommodations will be reserved for people at risk or experiencing homelessness.
Mayor Plante’s office will confirm in the coming months the total amount that will be invested for these 1,000 housing units, while indicating that it has already injected an amount of $5 million for the start-up phase of the project.
Further details will follow.
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