Federal government invests in 1,952 affordable homes in Montreal metropolitan area and Indigenous communities

MONTREAL, July 23, 2024 /CNW/ – Today the federal government has more than $59 million in contributions and low-cost loans through the Affordable Housing Fund (AHF) to help build and renovate 1,952 affordable homes in the Montreal metropolitan area and in many Indigenous communities across Quebec.

The Honourable Marie-Claude Bibeau, Minister of National Revenue, made the announcement on behalf of the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities at Place Griffintown, located at 1375 Barré Street in Montreal, that $5.1 million to build 54 new homes. The project was made possible by Bâtir son quartier and will be carried out by Société d’amélioration de Pointe-Saint-Charles (SOCAM) and Place Griffintown. The building will offer a new approach to building resilient housing that is adapted to climate change. The site is located near downtown Montreal.

A detailed list of projects that have received funding can be found in the attachment to this press release.

Quotes:

“Everyone deserves a place to call their own, and the Affordable Housing Fund is one way we’re helping make that a reality for Canadians. We’ll continue to invest in affordable housing projects like the ones announced today and work with partners across the country to help end the housing crisis.” – The Honorable Sean Fraser, Minister of Housing, Infrastructure and Communities

“The government of Canada is pleased to have supported this important funding here in Greater Montréal and Indigenous communities in Québec. Through the Affordable Housing Fund, we are committed to empowering communities in our province and across Québec. CanadaI am proud that this investment of more than $59 million will not only help create new jobs and stimulate the local economy, but also contribute to delivering more than 1,900 safer and affordable homes to communities across Québec.”– Your Honor, Marie-Claude BibeauMinister of National Revenue

“Whether it is new construction, renovations or energy efficiency upgrades, the diversity of initiatives presented this morning speaks volumes about the capacity of the housing sector to meet the housing needs of low and middle income households, as well as vulnerable populations. To achieve this, the synergy of government intervention at all levels of government is essential. Today, we want to recognize the contribution of the federal government and the various initiatives developed as part of the National Housing Strategy. Without these initiatives, these projects would not have been possible to improve the quality of life of Montreal tenants.” – Yann Omer-Kassindevelopment coordinator, Bâtir son quartier

Quick Facts:

• The federal funding announced today will support the construction of a total of 672 new homes and the repair of 1,280 homes.
• The Affordable Housing Fund (AHF) provides financing through low-interest loans or grants and/or fee waivers to build new affordable housing and renovate and repair existing affordable and community housing.
• The government has provided an additional financial incentive through the 2023 Autumn Economic Statement 1 billion dollars for the Affordable Housing Fund, bringing total financing to more than 14 billion dollarsTo further support non-profit organizations, cooperatives and social housing providers and to respond to the needs of those most affected by the housing crisis, Budget 2024 has set aside an additional budget 1 billion dollars to the fund.
• This program under the National Housing Strategy (NHS) prioritises projects that help people who need it most, including women and children fleeing domestic violence, seniors, indigenous peoples, people with disabilities, people with mental health or addiction problems, veterans and young adults.
• From March 2024the federal government has committed itself to $50.97 billion through the NHS to support the construction of over 146,000 units and the repair of over 286,000 units.

Extra information:

• Visit Canada.ca/housing for the most requested government information Canada housing information.
• CMHC contributes to the stability of the housing market and financial system, provides support to Canadians in need of housing, and provides impartial housing research and advice to all levels of Canadian government, consumers, and the housing industry. CMHC’s goal is for everyone in Canada a home they can afford and that meets their needs. For more information, follow us on TwitterInstagram, YouTube, LinkedIn and Facebook.
• For more information about the National Housing Strategy, please visit www.placetocallhome.ca.

Appendix: Projects receiving funding under AHF

SOURCE Canada Mortgage and Housing Corporation (CMHC)

Contacts: Micaal Ahmed, Office of the Minister of Housing, Infrastructure and Communities, (email protected); Media Relations, Canada Mortgage and Housing Corporation, (email protected)