LONGUEUIL, QC, June 28, 2024 /CNW/ – Today, the federal government announced an investment of more than $64 million to build 170 affordable rental housing units. This is the first phase of the Louis-Alexandre project, a mixed-use multi-residential development. The funding is being provided in the form of fully repayable, low-interest loans through the Apartment Construction Loan Program (ACLP).
The announcement was made on the Louis-Alexandre project website, in Longueuilby the honorable Pablo RodriguezMinister of Transport and Lieutenant of Quebec, on behalf of the Honourable Sean FraserMinister of Housing, Infrastructure and Communities, as well as Sherry RomanadoParliamentary Secretary to the President of the King’s Privy Council for the Canada and Minister of Civil Protection and Member of Parliament for Longueuil–Charles-LeMoyne.
Located on René Street, the Louis-Alexandre project is close to all services and is served by numerous public transport routes.
The PPCA stimulates rental housing construction by providing builders and developers with low-cost, repayable loans. It is on track to help build more than 131,000 apartments across the country. Canada.
Citations :
“Investing in housing is not about putting money in concrete. It means investing concretely in the well-being of our people. This is the case for future residents of the Louis-Alexandre project, here in Longueuil, who will have access to a safe and comfortable home, where they can rest, recharge their batteries and receive their loved ones. We continue to deliver for Quebecers by taking concrete actions that make a real difference. » – Pablo Rodriguez, Minister of Transport and Lieutenant of Quebec
“The government of Canada is committed to working with communities to meet the challenge of building more homes Longueuil and throughout Quebec. Through the Apartment Construction Loan Program, our government is increasing the supply of new rental housing by investing more than $64 million in the construction of 170 housing units. This housing supply will benefit middle-class individuals and families and stimulate the local economy. – Sherry Romanado, Parliamentary Secretary to the President of the King’s Privy Council for the Canada and Minister of Civil Protection and Member of Parliament for Longueuil–Charles-LeMoyne.
Quick facts:
- The Apartment Construction Loan Program (ACLP) is part of the Government of Canada’s National Housing Strategy (NHS). Canadaa more than $82 billion plan to provide a place to call home for more people across the world. Canada.
- The PPCA offers low-interest, fully repayable loans to encourage the construction of more rental housing for middle-class people in CanadaThis program has a positive impact on the housing system, at minimal cost to taxpayers.
- It is one of many SNL programs and initiatives designed to help address housing needs across the country.
- It complements other NHS initiatives that focus on financing affordable housing for low-income households.
- Through the program, the federal government is encouraging the construction of more than 131,000 rental housing units by 2031-2032.
- A stable supply of rental housing is essential for more people to Canada have access to housing that meets their needs.
- In addition to the $15 billion announced in the 2023 Fall Economic Statement for the CAPP, Budget 2024 announced an additional $15 billion in loans to build a minimum of 30,000 new rental apartments, bringing total funding to $55 billion.
- As of March 2024, the federal government has committed nearly $51 billion to support the creation of more than 146,000 new housing units and the repair of more than 286,000 housing units. These measures prioritize those most in need, including seniors, Indigenous people, people experiencing or at risk of homelessness, and women and children fleeing violence.
Related links:
- Visit the site canada.ca/logement for housing information from the government of Canada which are the most in demand.
- As the housing authority in CanadaCMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s goal is to ensure that everyone in Canada can afford housing that meets their needs. To find out more, go to schl.ca or follow us on Twitter, Instagram, YouTube, LinkedIn et Facebook.
- Progress on programs and initiatives is updated quarterly on the website www.chezsoidabord.ca. The map of housing finance initiatives shows the affordable housing developments that have been created.
SOURCE Canada Mortgage and Housing Corporation (CMHC)
Information on this press release: Micaal Ahmed, Office of the Minister of Housing, Infrastructure and Communities,[email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]
