The City of Montréal will receive $56.8 million in federal funding under the new Rapid Housing Initiative to support the completion of 12 projects, representing 263 housing units.
In addition, the government of Quebec announced it will be funding the rent supplement for certain projects included in this announcement for 20 years. With this assistance, eligible renters will spend only 25 per cent of their income on housing.
“The pandemic has been particularly hard on the most vulnerable and on people experiencing homelessness,” said Hon. Pablo Rodriguez, Quebec Lieutenant, Leader of the Government in the House of Commons and Member of Parliament for Honoré-Mercier. “Thanks to the co-operation between the governments of Canada and Quebec, Montréal will receive $56.8 million to rapidly create affordable housing. This federal investment is of great help to those Montréalers who need it most.”
The COVID-19 crisis has underscored just how essential affordable housing is, not only to the health and well-being of vulnerable households, but also to the economic recovery of cities across Quebec and Canada. Many cities are facing the devastating impacts of increasing homelessness and housing needs. The housing projects funded under the Rapid Housing Initiative will therefore target those who are most vulnerable. The support may cover the costs of land acquisition, housing construction, or conversion or rehabilitation of existing buildings.
“The construction of social and affordable housing is essential to the development of the east and, especially, the County of Hochelaga,” said Soraya Martinez Ferrada, Member of Parliament for Hochelaga. “Urban neighbourhoods have glaring housing needs, and gentrification is a very real challenge. It is vital that we rapidly increase housing stock intended for the most vulnerable populations. Today’s announcement is very welcome news for the people and organizations of Hochelaga.”
“Housing is a priority for our government and today we are demonstrating that once again,” added Andrée Laforest, Minister of Municipal Affairs and Housing. “There will be 263 units in 12 housing projects ready for occupancy by the spring of 2022. In fact, our government is committing, for a 20-year period, financial support to eligible tenants through the rent supplement program. For more than two years, our government has been making every effort, particularly in the Montreal region, to increase the number of affordable housing units. The commitment we are making today represents an estimated amount of more than $23.5 million in the Major Cities Stream.”