In a context of housing shortage, the City of Montreal announced Tuesday its intention to acquire around thirty residential buildings totaling more than 700 housing units in the Côte-des-Neiges sector, where the needs are most felt.
“Our administration’s efforts are yielding results and bringing us closer to our goal of reaching 20% of non-market housing by 2050,” declared Montreal Mayor Valérie Plante, who spoke of “historic sums” invested in the project.
The management of these affordable housing units, which will be protected from speculation thanks to the exercise of the right of pre-emption, will be entrusted to the Office municipal d’habitation de Montréal (OMHM) which will also be responsible for determining the renovation priorities.
“Protecting more Montrealers by guaranteeing them an affordable roof over the long term is our concrete way of fighting the housing crisis and preventing homelessness,” added Mayor Plante.
“Faced with growing demand and the persistent housing crisis, this innovative initiative allows the OMHM to act as a key player in expanding affordable housing in Montreal,” mentioned the general director of the ‘OMHM, Isabelle Pépin.
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