New Partnership to Deliver 1,000 Affordable Housing Units Across Quebec
June 25, 2025
The governments of Canada and Quebec, together with Desjardins, have announced the construction of 1,000 new affordable housing units over the next three years. These housing units will be created as part of the Desjardins Affordable Housing Initiative, a partnership launched in 2022 that will now enable the delivery of over 3,000 affordable housing units by 2028.
Funding for these 1,000 new units totals nearly $184 million. This 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), as well as from the additional $900 million in funding announced by Quebec in its fall 2023 economic update. For its part, Desjardins is committed to granting community developers nearly $50 million in mortgage financing or patient capital.
With its one-stop-shop model and extensive network of Desjardins caisses and business centers, Desjardins is able to support housing cooperatives, community organizations, and municipal stakeholders in identifying and qualifying projects to accelerate the creation of affordable housing.
Concrete results on the ground
- As of May 31, 2025, nine buildings, totaling 1,198 housing units, were already welcoming tenants, and an additional 908 units were under construction.
- The projects are spread across 14 regions of Quebec.
Launched in 2022 through an innovative partnership between the Quebec government and Desjardins, the Desjardins Affordable Housing Initiative initially aimed to create 1,000 affordable housing units by the end of 2025.
Thanks to the expertise of its Affordable Housing team, Desjardins quickly exceed the initial target of this first agreement, increasing it to over 2,000 units.
This second agreement, signed with the Quebec government in partnership with the Canadian government, confirms Desjardins’ leadership in tackling the housing crisis.
In just six years, this partnership will make more than 3,000 affordable housing units available across the province and ensure their affordability for at least 35 years.
