Federal Investment to Add 989 New Montreal Homes

November 18, 2024

The federal government is providing nearly $364 million to help build 989 new homes in Montreal.

The announcement took place at 5200 rue de la Savane, in Montreal, which received $100 million dollars through the Apartment Loan Construction Program (ACLP) to build 303 homes and will be operated by Olymbec. This rental building, named Lynk, is designed to serve a diverse range of community needs. Some of the units will be offered at below-market prices, ensuring to meet the needs of individuals and families seeking more accessible rental options. This approach aims to create a well-rounded community by offering diverse housing options for residents with varying preferences and needs. The site is located close to a metro station and several shops.

Projects receiving funding  

Project NameProgramFunding ($)Units
Quartier DaliaApartment Construction Loan Program (ACLP)93,753,000249
Aria – Projet VoltigeApartment Construction Loan Program (ACLP)67,000,000182
LynkApartment Construction Loan Program (ACLP)100,000,000303
Trantor mtl 3Apartment Construction Loan Program (ACLP)103,105,000255
Total363,858,000989

Source

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