Feds invest $41.7 million in Montreal rental project

Tuesday, February 12, 2019

The federal government announced it is contributing $41.7 million toward the construction of a new Montreal rental project called Apero Phase 3, a 10-storey building in LaSalle. All units will have rents at or lower than 30 per cent of median household income in the area and 10 per cent of the units will be accessible.

The funding was made available through CMHC’s Rental Construction Financing initiative (RCFi) and will help finance the construction of the 199 rental housing units located close to public transit, schools and services for middle-income families.

“Through the National Housing Strategy, more middle class Canadians—and those working hard to join it—will find safe, accessible and affordable homes in communities where their families can thrive and children learn and grow,” said The Hon. Jean-Yves Duclos, Minister of Children, Families and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation. “This investment is wonderful news for the Montreal middle-income families that will move into these new affordable rental housing units. Our Government is committed to increasing the supply of rental units for Canadians through projects like the one we are announcing today.”

The RCFi, a National Housing Strategy initiative delivered by CMHC, supports affordable rental housing construction projects to encourage a stable supply of affordable rental housing across the country for middle-class families struggling in expensive housing markets.

Launched in April 2017, the program has generated a lot of interest and a high number of quality applications. In addition to filling the affordability need, Apero Phase 3 will be highly energy efficient, achieving energy savings of 45 per cent and a reduction in greenhouse gas emissions of 22 per cent.

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