Desjardins Affordable Housing Initiative - 50 new affordable housing units for families in Salaberry-de-Valleyfield
SALABERRY-DE-VALLEYFIELD, QC, June 8, 2026 /CNW/ - The governments of Quebec and Canada, the City of Salaberry-de-Valleyfield, Desjardins and Ambition Habitation are proud to have broken ground today on a 50-unit affordable housing building with 1-, 2- and 3-bedroom units for low- and modest-income families in Montérégie. The 3-storey project, led by Ambition Habitation, will be located at the Dufferin Lookout at the end of Parent Street in Salaberry-de-Valleyfield. Residents are scheduled to move in summer 2027.
This new building is being made possible by the Desjardins Affordable Housing Initiative, an innovative partnership between the Government of Quebec and Desjardins for the rapid creation of over 3,000 affordable housing units.
The $15.9-million funding package includes government investments that stem from the Canada-Quebec Agreement under the Housing Accelerator Fund (HAF) and new matching investments announced by Quebec in its 2023 and 2024 economic updates. The governments of Quebec and Canada invested over $6.85 million each. The City of Salaberry-de-Valleyfield is investing $1.7 million in the project, including the donation of the land. The federal government is contributing an additional $1 million through the Affordable Housing Innovation Fund. A mortgage loan from Desjardins Group completes the financing package.
The event was attended by Claude Reid, Assistant Government Whip and Member of the National Assembly for Beauharnois, Miguel Lemieux, Mayor of Salaberry-de-Valleyfield, Yannick Laviolette, General Manager and Director, Affordable Housing at Desjardins Group and Édith Gariépy, Chair of the Board of Directors, Ambition Habitation.
Desjardins Affordable Housing Initiative: results beyond expectations
Projects completed under the Desjardins Affordable Housing Initiative are part of an already well-developed roadmap that shows just how successful the partnership between the Government of Quebec and Desjardins is.
As of May 31, 2026, 1,852 housing units were already in operation, 891 units were under construction, and 497 were in the authorization process, for a total of 3,240 affordable housing units across 15 regions of Quebec.
In response to the housing crisis, Desjardins committed, at the end of 2025, to create more than 10,000 affordable and deferred-affordability housing units by 2028. This ambition marks a significant evolution in Desjardins's Affordable Housing Initiative launched in 2022, in partnership with the Société d'habitation du Québec (SHQ), aiming to deliver 3,000 units.
This commitment, supported by public and private partnerships and an innovative funding model, will provide concrete solutions to thousands of families, students and individuals, while fostering a more inclusive and supportive society.
To reach this goal, Desjardins will build on its innovative one-stop-shop model, which centralizes sources of funding and helps get projects off the ground quickly, through streamlined processes and support from a dedicated team.
Quotes:
"Our government is committed to helping communities develop local solutions to housing challenges. Today's opening shows what can be done when governments work together. It's also another step in our bold and ambitious plan to build Canada strong."
The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister Responsible for Pacific Economic Development Canada
"Our government is delivering more social and affordable housing than ever, in all regions of Quebec. Thanks to new financial levers, such as partnerships with tax-advantaged funds, including those with Desjardins Group, the SHQ has an expanded toolbox for building more housing faster. It's an approach that has produced concrete results at remarkable speed. The Ambition Housing project is a great example of what we can achieve. Congratulations to all the partners!"
Karine Boivin Roy, Quebec Minister Responsible for Housing
"This project is excellent news for Salaberry-de-Valleyfield and for the entire region. It shows that by working together with governments, the City and the community, we can implement sustainable and adapted solutions to support women in extremely difficult situations."
Claude Reid, Assistant Government Whip and Member of the National Assembly for Beauharnois
"After several years of work to bring an affordable housing project on this site to fruition, we are especially proud today to mark the official start of construction alongside the partners who helped make this project possible. Affordability is a key pillar of our Housing Strategy launched in 2023, and this project allows us to take another step forward by providing an accessible living environment for 50 low-income households in Salaberry-de-Valleyfield."
Miguel Lemieux, Mayor of Salaberry-de-Valleyfield
"In Salaberry-de-Valleyfield, this project meets a very real need to provide families with affordable and safe housing adapted to their needs, helping them to continue living in their communities, close to what they know and their network. The model being used by Desjardins in partnership Housing affordability challenges are being felt across Quebec and have a real impact on family stability and the vitality of our communities. This is a complex issue that requires sustainable and responsible solutions and, above all, the mobilization of all stakeholders.This project is a concrete demonstration of that. By working together with governments and partners in the community, and by streamlining processes, we can accelerate the delivery of affordable housing and generate a tangible impact in our communities."
Denis Dubois, President and Chief Executive Officer of Mouvement Desjardins
"This first Ambition Habitation project is one where a community has decided to take ownership of its affordable housing needs. It is becoming a reality thanks to the mobilization of the Table urgence logement, led by the CDC Beauharnois-Salaberry, and to partners who have prioritized collective success over their own interests -- including Gestion Rocket Hammer, which waived its profits for the benefit of the project."
Édith Gariépy, Chair of the Board of Directors, Ambition Habitation
About the Société d'habitation du Québec
The SHQ works to meet the housing needs of Quebecers, including by increasing housing supply throughout the province for people with low or moderate incomes and for those with special needs. It supports its partners in the fields of construction and renovation, property management and home adaptation. It also provides direct financial assistance to low-income households so that they can pay their rent.
To find out more about its activities, visit www.habitation.gouv.qc.ca/english.html.
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About Canada Mortgage and Housing Corporation
- Visit canada.ca/housing for the most-requested Government of Canada housing information.
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About Desjardins Group
Desjardins Group is the largest cooperative financial group in North America and the sixth largest in the world, with assets of $487.9 billion as at March 31, 2025. It has been named one of the top employers in Canada by both Forbes magazine and Mediacorp. It has also been recognized as one of the World's Best Banks 2025 by Forbes. The organization has more than 56,100 skilled employees. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, its online platforms and its subsidiaries across Canada. Ranked among the world's strongest banks according to The Banker magazine, Desjardins has one of the highest capital ratios and one of the highest credit ratings in the industry. In 2025, Desjardins Group celebrated its 125th anniversary, marking more than a century of focusing its ambitions and expertise on being there for members and clients.
SOURCE Canada Mortgage and Housing Corporation (CMHC)
Sources: Nicolas Gravel, Press Secretary to the Quebec Minister Responsible for Housing, [email protected]; Arianna Durgerian, Office of the Minister of Housing and Infrastructure, [email protected]; Information: Media Relations, Société d'habitation du Québec, [email protected]; Public Affairs, Desjardins Group, [email protected]
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