The first investment fund for student housing in Québec now operational

MONTRÉAL, March 16, 2016 /CNW Telbec/ - UTILE announces today the foundation of the Popular University Student Housing Fund (PUSH Fund), the first investment fund dedicated to the construction of student housing in the province. With an initial capitalization of nearly 2 M$ from the Concordia Student Union (CSU), the PUSH Fund is well equipped to begin meeting its mission, which is to finance the development of new, cooperative and affordable housing units for students in Quebec.

"Leveraging the investment of the PUSH Fund will allow us to start right away to answer the demand for student housing in Montreal, and to develop 4000 rooms in a near future, indicates Laurent Levesque, General Coordinator of UTILE. Being also designed as an investment vehicle for public bodies such as the provincial and federal governments and the city, the PUSH Fund will play a pivotal role in making Montreal an inclusive student metropolis", he adds.

As such, UTILE reiterates its support for Mayor Denis Coderre's idea of adopting a Student Housing Policy for Montreal, as mentioned in his electoral platform. Russell Copeman, responsible of housing at the city, reminded Radio-Canada last week that Montreal is interested in financially supporting UTILE's projects.

"Student housing is a critical need in Montreal and our members pay high rents for apartments that are often of poor quality", indicates Terry Wilkings, General Coordinator of CSU. He adds that "The Concordia Student Union is proud to begin to meet the needs of its members and of students in general."

The Unité de travail pour l'implantation de logement étudiant (UTILE) is a not-for-profit business dedicated to the development, study and promotion of student housing as co-op initiatives throughout Quebec.

SOURCE UTILE - Unité de travail pour l'implantation de logement étudiant

Image with caption: "Terry Wilkings, General Coordinator of CSU, Marguerite Mendell, President of the PUSH Fund, and Laurent Levesque, General Coordinator of UTILE hold the first check invested in the Fund. (CNW Group/UTILE - Unité de travail pour l'implantation de logement étudiant)". Image available at: http://photos.newswire.ca/images/download/20160316_C8888_PHOTO_EN_644059.jpg

For further information: For further information or interview: Laurent Deslauriers, Press attaché, Mobile: [phone], poste 1, [email protected]