MONTRÉAL, Aug. 6, 2026 /CNW/ -- Far too many people in Canada are struggling to find homes that they can afford. Solving Canada's housing crisis requires immediate action to bring down costs, cut red tape, and build homes more quickly. The Government of Canada is stepping up with a bold new approach to build affordable housing across the country. We are focused on creating neighbourhoods where Canadians want to live and can afford to live.
Central to that work, the Government of Canada launched Build Canada Homes, which helps increase the pace of affordable homebuilding. Build Canada Homes also helps fight homelessness by building transitional and supportive housing--working with provinces, territories, municipalities and Indigenous communities. It builds deeply affordable housing and community housing for low-income households, and it partners with private market developers to build affordable homes for the Canadian middle class.
As part of the Government of Canada's overall efforts to tackle the housing crisis, investments are made across the entire housing continuum to meet the needs of communities nationwide.
Today, the federal government announced funding of $150 million to support the construction of 435 rental units in Montréal, through the Apartment Construction Loan Program (ACLP). Located on Sherbrooke Street East, a few minutes from L'Assomption subway station, the EXAL Quartier Olympique project is being developed and built by Construgep, in partnership with Groupe MACH. The project, which is aiming for LEED Gold certification, will meet high energy efficiency and sustainable development standards and will provide a complete living environment with common spaces, nearby shops and amenities that promote an active lifestyle. The project is also part of the broader vision to revitalize the Assomption Nord sector through the creation of a vibrant new urban neighbourhood centred on public transit, with convenient access to services, shops and community spaces.
The announcement was made by the Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister Responsible for Pacific Economic Development Canada, and Marie-Gabrielle Ménard, Parliamentary Secretary to the Minister of Women and Gender Equality, Secretary of State (Small Business and Tourism) and Member of Parliament for Hochelaga--Rosemont-Est.
The Government of Canada is making the housing investments that will help strengthen Canadian supply chains and create good jobs at every step of the homebuilding process. These investments will help build more housing as well as strengthen the Canadian economy.
Quotes:
"Our Government is proud to support this project that will create more rental housing for people living and working in Montréal. It's an example of what we can accomplish when government and the private sector work together. The project is 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 committed to increasing housing supply in order to help reduce housing costs. Some of the flagship measures we're taking in this regard include building more rental housing and thereby meeting the needs of households that decide to settle in eastern Montréal. Rapidly increasing housing supply is essential to dealing with the housing crisis. With 435 new rental units, the EXAL Quartier Olympique project will make a real contribution to responding to growing demand. This project is an example of what we can achieve when the government and the private sector work together to serve the population." – Marie-Gabrielle Ménard, Parliamentary Secretary to the Minister of Women and Gender Equality, Secretary of State (Small Business and Tourism) and Member of Parliament for Hochelaga--Rosemont-Est
"With 2,800 units delivered and 3,500 in development, Construgep has been building sustainable living environments across Quebec for the past 29 years. EXAL Quartier Olympique is the largest project that we've developed and includes everything that defines the EXAL label: affordable and universal housing, energy efficiency, proximity to public transit, electric carsharing and bikesharing, urban agriculture, a bike shop and electric charging stations. We're proud to bring a project of this quality to life with the help of the Government of Canada." – Stéphane L'Espérance, Founder and President, Construgep
"For Groupe MACH, increasing the supply of housing is a must. Doing so requires long-term vision, a real capacity for action and the boldness to advance projects that make a real contribution to transforming the city. EXAL Quartier Olympique will add 435 rental units to a dynamic and evolving sector and provide a sustainable, connected living environment that's rooted in its neighbourhood." – Vincent Chiara, Founder and President, Groupe MACH
Quick facts:
- The Apartment Construction Loan Program (ACLP) has a budget of $55 billion. It provides low-cost financing to support the construction of more than 131,000 rental units across Canada by 2031–2032.
- The ACLP offers fully repayable, low-interest loans to help boost rental construction for middle-income Canadians. This program has a positive impact on the housing system at minimal cost to taxpayers.
- A stable supply of purpose-built rental housing is essential to ensuring that more Canadians have access to housing that meets their needs.
- As of March 2026, Canada Mortgage and Housing Corporation (CMHC) had committed $30.82 billion in loans through the ACLP to support the construction of more than 78,200 purpose-built rental units.
- The ACLP is one of many NHS programs and initiatives designed to help meet needs across the housing continuum.
- It complements other NHS initiatives that focus on funding affordable housing units for low-income households.
- Funding provided for this housing project is as follows:
- $150 million from the federal government, through the Apartment Construction Loan Program (ACLP)
- $40.45 million from Construgep
Additional information:
- Visit canada.ca/housing for the most-requested Government of Canada housing information.
- Build Canada Homes is ready to partner with organizations committed to increasing the supply of affordable housing across Canada. Learn more on the portal and about the investment policy framework.
- Canada Mortgage and Housing Corporation (CMHC) is a federal Crown corporation and the foundation of Canada's housing system. For over 80 years, CMHC has supported the functioning of housing markets across the country through housing finance solutions -- including mortgage loan insurance and securitization -- while providing trusted, unbiased data, research and market intelligence to inform policy and decision-making. Through its national presence, deep expertise in housing economics and finance, and a system-wide perspective, CMHC helps foster a more stable, well-functioning housing market that supports households, communities and the broader economy. Follow CMHC on X, YouTube, LinkedIn, Facebook and Instagram.
SOURCE Canada Mortgage and Housing Corporation (CMHC)
Contacts: Arianna Durgerian, Office of the Minister of Housing and Infrastructure, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]
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