1,001 Social and Affordable Housing Units to be Built in Quebec with the Creation of a Fast Track for Qualified Developers

September 2, 2024

The governments of Canada and Quebec are participating in the creation of a fast-track approach to accelerate affordable housing starts across Quebec, with 1,001 units announced today to be built rapidly. The new business model involves providing financial support to affordable housing projects by experienced developer groups recognized for their efficiency by the Société d’habitation du Québec (SHQ).

In concrete terms, the SHQ will grant “Qualified Developer” status to developers or organizations so they can start construction on their projects more quickly. To this end, the SHQ is planning a major administrative streamlining of the “applicant qualification” phase when organizations apply for financial assistance for the construction of affordable housing. Keen to set the process in motion, the SHQ has already identified developers who would be able to obtain qualification status quickly.

“Qualified Developer” status complements the Programme d’habitation abordable Québec (PHAQ). It gives the SHQ more flexibility to get large-scale housing projects built across the province.

The Société de développement Angus: The first Qualified Developer

The Société de développement Angus (SDA) is the first to join the SHQ’s network of qualified developers. It will receive nearly $193.5 million in funding to build 1,001 new housing units: 677 in Montréal and 324 in Rimouski. This financial assistance covers around 50% of the estimated cost of building the units, whose affordability will be guaranteed for a minimum of 35 years.

The funding comes in part from the $900 million in federal funding provided to Quebec through the Canada-Quebec Agreement under the Housing Accelerator Fund (HAF) and the new $900 million in funding announced by Quebec in its fall 2023 economic update. The City of Montréal and the City of Rimouski will contribute to the projects developed on their respective territories. To support the cities in financing their projects, the SDA turned to Desjardins Group, which will provide about $180 million in loans.

Projects in Montreal

In the Technopôle Angus district, located in Rosemont–La Petite-Patrie, a two-building housing project with up to seven storeys will be built in the heart of the Angus eco-district on Molson Street. It will include 352 one-, two- and three-bedroom units. Construction will begin by late 2024.

In Ahuntsic, 325 one-, two- and three-bedroom units will be built. It will be the first residential project of the future Écoquartier Louvain. The eco-district will eventually include an elementary school, childcare centre, library, community centre, multipurpose hall, shops, local services and an urban agriculture centre. Construction will begin by summer 2025.

The housing projects are nationally exemplary in that they aim for LEED certification by offering affordable, sustainable housing based on the highest standards of sustainable development. The aim of these projects is to promote affordable housing as a choice, a desirable and sustainable solution for an excellent quality of life.

Monthly rents will be set based on the grid established by the SHQ in the Programme d’habitation abordable Québec (PHAQ). Tenants could also benefit from the SHQ’s Rent Supplement Program, if they’re eligible, ensuring that they would not spend more than 25% of their income on housing.

The announcement was proudly made today at Locoshop Angus in Montréal by France-Élaine Duranceau, Quebec Minister Responsible for Housing; the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec; Valérie Plante, Mayor of Montréal; and Christian Yaccarini, President and CEO of the Société de développement Angus.

Source