Desjardins Affordable Housing Initiative - 60 affordable housing units for families to be built in Trois Rivières through an innovative partnership

TROIS-RIVIÈRES, QC, Nov. 8, 2024 /CNW/ - The governments of Quebec and Canada, together with Desjardins, the City of Trois-Rivières and Accès Logement Mauricie, have announced the construction of 60 affordable housing units in five buildings, for families or people living alone. The housing project, called the Ste-Madeleine residences, will be located on Sainte-Madeleine Boulevard and on Du Sanctuaire Street, in Trois-Rivières.

The project is part of the Desjardins Affordable Housing Initiative, an innovative partnership between the Government of Quebec and Desjardins for the rapid creation of 1,750 affordable housing units, as well as the Government of Canada's Affordable Housing Innovation Fund.

Sonia Lebel, Quebec Minister Responsible for Government Administration and Chair of the Conseil du trésor, made the announcement on behalf of France-Élaine Duranceau, Quebec Minister Responsible for Housing. She was joined by the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry and Member of Parliament for Saint-Maurice–Champlain, Jean Lamarche, Mayor of the City of Trois-Rivières, Jean-Yves Bourgeois, Executive Vice-President of Desjardins' Business Services Group, and many community partners.

The financial package of just over $20 million includes investments of $10.5 million from the Government of Quebec, $600,000 from the Government of Canada and $1.4 million from the City of Trois-Rivières. Desjardins is adding close to $6.9 million in mortgage funding and $931,000 in patient capital. Accès Logement Mauricie will eventually take over management and maintenance of the project.

In collaboration with Habitations Populaires du Québec and Accès Logement Mauricie, the Ste-Madeleine residences will welcome its first tenants in winter 2025. The project will include 30 one-bedroom units and 30 two-bedroom units. The monthly rent will be set at $719 for a one-bedroom unit and $920 for a two-bedroom unit.

About the Desjardins Affordable Housing Initiative

In 2022, the Government of Quebec entrusted Desjardins with $175 million for the creation of 1,000 new social and affordable housing units. Projects would be spread over 14 Quebec regions and be delivered by the end of 2025. Desjardins would then make available $150 million in financing and patient capital to project developers with the support of Capital régional et coopératif Desjardins. Project developers committed to keeping the units affordable for up to 35 years.

With its dedicated team and extensive network of caisses, as well as the expertise of the Caisse d'économie solidaire, Desjardins quickly exceeded its targets. It brought in non-profit organizations, housing co-operatives and municipalities. Now it's on track to make over 1,500 affordable housing units available by the end of 2025.

In view of these results, in December 2023, Quebec added $43.75 million to the amount originally awarded to Desjardins, to create 250 additional affordable housing units. In all, Desjardins will make more than 1,750 affordable housing units available in three years.

Quotes:

"I've often said that we need to innovate to build more and better housing, especially given the current housing crisis. This collaboration with Desjardins is further proof that our government is taking concrete action alongside municipalities and housing organizations, to better house Quebecers with low or moderate incomes. I'm excited about this partnership with Desjardins, which mobilizes stakeholder expertise to very quickly build quality affordable housing. We're determined to deliver results with this partnership, and the success of the Ste-Madeleine residences is a great example of that!" 

France-Élaine Duranceau, Quebec Minister Responsible for Housing

"We're determined to ensure that everyone has a safe place to call home. I'm proud that we could support this project through the Affordable Housing Innovation Fund, in collaboration with the Government of Quebec, the City of Trois-Rivières and Desjardins. This demonstrates our unwavering commitment to ensuring that no one is left behind." 

The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

"Getting funding for the Ste-Madeleine residences housing project means we can continue working to keep housing affordable in my home region of Mauricie. This initiative by Habitations populaires du Québec and Accès Logement Mauricie also shows the value of staying agile and joining forces to deliver solutions for our community. Congratulations to all the partners!" 

Sonia Lebel, Quebec Minister Responsible for Government Administration, Chair of the Conseil du trésor and Member of the National Assembly for Champlain

"Everyone deserves a safe and affordable place to call home. Through the Affordable Housing Innovation Fund, we're building affordable housing, quickly, for those who need it most throughout the country. Thanks to the project announced today, 60 affordable housing units will soon be available to the people of Trois-Rivières." 

The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry and Member of Parliament for Saint-Maurice–Champlain

"In addition to offering a 20-year tax credit, the City of Trois-Rivières is supporting the first phase of this project by investing $1.4 million through its Program to Support the Development of Affordable Housing. The Ste-Madeleine residences will play a key role in the revitalization of the Bas-du-Cap sector, providing a healthy living environment, accessible housing and a stronger sense of belonging within our Trois-Rivières community. I would like to underline the excellent collaboration of the partners involved in this project, which will enable the former site of the Sainte-Madeleine church to regain a significant social vocation."

Jean Lamarche, Mayor of Trois-Rivières

"At Desjardins, we are deeply convinced that access to housing for all is a fundamental pillar in building strong, resilient communities. The Ste-Madeleine residences project is a perfect illustration of our ability to create innovative and sustainable solutions for our communities. By working closely with local governments and organizations, we bring not only financial resources, but also our expertise and commitment to collective well-being. This project is a testament to our ability to turn challenges into opportunities, offering quality housing to those who need it most."

Guy Cormier, President and CEO, Desjardins Group

"We're happy to do our bit to help house our local community. Once again, when all the players come together and work in concert, great things can be achieved. This project is a typical example of this concerted effort on the part of governments and the business community alike, since it has been completed in record time. We're developing not just housing units, but a living environment that will serve our community for generations to come. Let's breathe new life into a religious site through this partnership."

Guy Gagnon, President, Accès Logement Mauricie

Highlights:

• Habitations Populaires du Québec is a non-profit organization (NPO) founded in 1978 thanks to the financial participation of five Desjardins caisses in the City of Trois-Rivières. This NPO acts as a community real estate owner, developer and manager. Its real estate portfolio includes 160 projects totalling more than 4,500 social and affordable housing units, and it has nearly 2,000 units under management. It owns more than 800 units through its affiliated NPO.
• Accès Logement Mauricie is an NPO affiliated with Habitations Populaires du Québec whose mission is to house low- and moderate-income households. A contract will be awarded to Habitations populaires Québec for management, maintenance and rental services.
• CMHC's Affordable Housing Innovation Fund (AHIF) will promote innovation and growth in the affordable housing sector by encouraging the development of new funding models and construction techniques.
• The Fund's objective is to support innovative funding models and unique designs to make housing more affordable and reduce the costs and risks associated with affordable housing projects.

About the Société d'habitation du Québec

As a leader in housing, the SHQ's mission is to meet the housing needs of Quebecers through its expertise and services to citizens. It does this by providing affordable and low-rental housing and offering a range of assistance programs to support the construction, renovation and adaptation of homes, and access to homeownership.

To find out more about its activities, visit www.habitation.gouv.qc.ca/english.html.

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SOURCE Government of Canada

Sources: Justine Vézina, Press Secretary to the Minister Responsible for Housing, [email protected]; Sofia Ouslis, Office of the Minister of Housing, Infrastructure and Communities, [email protected]; Information: Media Relations, Société d'habitation du Québec, [email protected]; Public Affairs, Desjardins Group, [email protected]