Desjardins Affordable Housing Initiative - More social and affordable housing to be built in Alma Français
ALMA, QC, July 10, 2024 /CNW/ - The governments of Quebec and Canada, together with Desjardins, Groupe Coderr, and the City of Alma, have announced the construction of a 60-unit social and affordable housing project on Des Cascades Boulevard, in Alma. The Les Habitations Coderr project draws on the mission and values of social integration and inclusion held by the project developer, Groupe Coderr.
The entire project is part of the Desjardins Affordable Housing Initiative (Initiative Logement abordable Desjardins), an innovative partnership between the Government of Quebec and Desjardins, along with the Government of Canada's Affordable Housing Innovation Fund.
The financial package of nearly $18 million includes investments by the Government of Quebec ($10.5 million), the Government of Canada ($825,000), the City of Alma ($4 million) and Desjardins (close to $450,000 in patient capital), which is also granting a mortgage loan of more than $5.4 million to Coderr Group, which benefits from financial support for this project from the Caisse Desjardins d'Alma. Coderr Group will be responsible for the management and maintenance of the building.
The new living environment will consist of 60 affordable units on four floors. Fifteen of the units will provide transitional housing for people living in unstable conditions and dealing with social exclusion. The tenants of these units could also benefit from Quebec's Rent Supplement Program, if they are eligible.
The first tenants will be able to move in in January 2026. Equipped with an elevator, sprinklers and an outdoor parking area, the building will also include an air-conditioned multi-purpose common room, an outdoor patio and landscaping to foster socialization among residents.
The monthly rent will be set at about $740 for a one-bedroom unit, $935 for a two-bedroom unit and $995 for a three-bedroom unit.
Éric Girard, Member of the National Assembly for Lac-Saint-Jean and Parliamentary Assistant to the Quebec Minister of Municipal Affairs, made the announcement on behalf of France-Élaine Duranceau, Quebec Minister Responsible for Housing. With him were Sylvie Beaumont, Mayor of Alma, Mario Lapierre, Vice-President, Specialized Business Services at Desjardins Group, Josée Gauthier, Executive Director of Coderr Group.
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 more than $150 million in financing and patient capital to project developers with the support of Desjardins Regional and Co-operative Capital. 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 municipal players and is now on track to make over 1,500 affordable housing units available by the end of 2025.
In view of this efficiency, 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.
A total of 75% of the projects will be new construction, like Coderr Group's project in Alma. The other 25% will be renovated and acquired by non-profit organizations to help keep rents affordable in the long term.
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 experiencing housing instability and social exclusion. 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 Coderr Group's project 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've been able to support this project through the Affordable Housing Innovation Fund, in collaboration with the Government of Quebec, the City of Alma and Desjardins. It all shows our unwavering commitment to ensuring that no one is left behind."
The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
"To get housing projects built in our communities, we need project developers, and we've certainly got one here! Coderr Group has a wide range of expertise and will add another set of skills to their toolbelt with this affordable housing project that, let's be honest, can't be built soon enough. Alma's vacancy rate is very low, and we're in need of projects like this one. Hats off to the Coderr Group team, which has been able to bring together solid partners and execute this Les Habitations Coderr project."
Éric Girard, Member of the National Assembly for Lac-Saint-Jean and Parliamentary Assistant to the Minister of Municipal Affairs
"The construction of these 60 new affordable and social housing units is great news for Alma. This project fits perfectly with our special planning program, which aims to make downtown an attractive and inhabited neighbourhood. Congratulations to Coderr Group, which, in addition to building 45 affordable units, will be making 15 more units supportive ones with help for low- or moderate-income people experiencing social exclusion."
Sylvie Beaumont, Mayor of Alma
"For us at Desjardins, access to housing for all is about dignity and community spirit. That's why we're fully committed to this cause that ties in with our co-operative values. The new Les Habitations Coderr building is for people who face their own special challenges every day. It reflects our desire to develop more just and equitable communities. It also shows our ability to get things going, to get everybody working together quickly thanks to our one-stop-shop model."
Guy Cormier, President and CEO, Desjardins Group
"For years, we've been dreaming of doing more for our clients experiencing social exclusion. I'd like to emphasize that our primary mission is helping people. Building this housing complex will multiply our impact. Today, we are laying a new cornerstone to provide people with better living conditions."
Josée Gauthier, Executive Director, Coderr Group
Highlights:
- The City of Alma is providing a contribution of about $4 million, which includes the land on which the project will be built, the covering of costs for water and sewer connections, and certain tax credits.
- The goal of the Affordable Housing Innovation Fund is to spur original ideas and approaches that will stimulate Canada's affordable housing sector and help it evolve.
- The project derives from Coderr Group's values and mission of social integration and inclusion. The transitional housing component will include intervention and psychosocial support services in the apartments. It's designed to help low- and moderate-income people experiencing social exclusion develop behaviours and skills. The goal is for them to eventually move into permanent homes.
- Some people who move into the 15 transitional housing units may, if eligible, benefit from the Société d'habitation du Québec's (SHQ's) Rent Supplement Program, which would ensure that they don't spend more than 25% of their income on housing. This additional assistance is covered by the SHQ (90%) and the municipality where the project is located (10%).
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.
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SOURCE Government of Canada
Sources: Justine Vézina, Press Secretary to the Minister Responsible for Housing, [email protected]; Micaal Ahmed, 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, 514-281-7000 or 1-866-866-7000, extension 5553436, [email protected]
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