Advertisement

Montreal to get hundreds of new affordable housing units for families, homeless youth

Click to play video: 'Business Matters: Annual home prices predicted to rise nearly 10% in 2024'
Business Matters: Annual home prices predicted to rise nearly 10% in 2024
Related - Royal LePage forecasts that aggregate Canadian home prices will rise nine per cent in Q4 of this year compared with the end of 2023. In Business Matters for Friday, April 12, Anne Gaviola has more on why the CEO of the realty firm says the country’s housing market has reached a critical tipping point. – Apr 12, 2024

Montreal will see the construction of 763 new apartments as part of a boost in affordable and social housing projects, federal, provincial and city officials announced Friday.

The 12 projects approved in a call for tenders will cost about $310 million. They include hundreds of dwellings for a variety of Montrealers, including families, seniors, people who live alone, and homeless youth.

The joint announcement by the Canadian, Quebec and municipal government comes as the city once known for its affordable rents faces an ongoing housing crisis. The new apartments are being funded as part of a deal between Quebec and Ottawa under the housing accelerator project.

“The organizations have 12 months to sign the contract to start construction,” said Quebec Housing Minister France-Élaine Duranceau. “It ensures that between the moment of financing and the moment between people can actually live in the building is about three years.

Story continues below advertisement

“So that’s the good news because with the older program we didn’t have any deadlines so this constraints the time. So that’s a way to make sure things happen faster.”

Click to play video: 'Federal government increases RRSP withdrawal limit under First Home Buyers’ Plan'
Federal government increases RRSP withdrawal limit under First Home Buyers’ Plan

The latest announcement also comes as the federal Liberals unveiled their plan to solve the housing crisis Friday, with an emphasis on new tax incentives and building more homes on public lands. The goal is to build nearly four million homes by 2031.

Breaking news from Canada and around the world sent to your email, as it happens.

In Montreal, the new apartments will be built across the island. The approved developments vary in both size and who they will be built to house.

Among the projects are 89 affordable dwellings for people who live alone in Verdun, in the city’s southwest area. In Montreal’s east end, a mixed development of 120 apartments will be offered to families, seniors and people who live alone.

Story continues below advertisement

Under the plan, 13 units will be also be built in Montreal’s Pierrefonds-Roxboro borough for youth with mental health issues. In another case, 14 apartments will house people facing homelessness.

— with files from The Canadian Press

Sponsored content

AdChoices