Canada Invests in the Construction of Rental Housing in Quebec City
November 17, 2025
The Apartment Construction Loan Program (ACLP) provides fully repayable low-interest loans to catalyse the construction of more rental units for middle-class Canadians; the federal government announced over $63.2 million in combined funding to help build 264 rental homes in Quebec.
Les Appartements Malmo, part of a larger residential complex called Les Jardins du Vallon, is a six-storey building that includes 264 housing units. The project aims to deliver tangible social outcomes in terms of affordability, energy efficiency, and accessibility. It offers high-quality multi-residential units with premium finishes and modern amenities. Residents will enjoy convenient access to public transit, electric vehicle infrastructure, ride-sharing services, play areas, courtyards, and much more.
Quick Facts:
- The $55 billion Apartment Construction Loan Program (ACLP) is providing low-cost financing to support more than 131,000 new rental homes across Canada by 2031 – 2032.
- The ACLP provides fully repayable low-interest loans to encourage the construction of more rentals for middle-class Canadians. It creates a positive impact to the housing system at minimal cost to taxpayers.
- A stable supply of purpose-built rental housing is essential for more people in Canada to have access to housing that meets their needs.
- As of June 2025, CMHC has committed $24.9 billion in loans through ACLP to support the creation of more than 63,500 rental homes.
- It is one of many programs and initiatives under the National Housing Strategy designed to help address housing needs across the housing continuum.
- It complements other NHS initiatives that focus on funding affordable housing units for lower-income households.
- Budget 2024 announced enhancements to the ACLP which includes the program being extended from 2027 – 2028 to 2031 – 2032. The enhancements will allow applicants to apply for funding for on- and off-campus student housing to support post-secondary educational institutions as well as independent seniors housing.
