AGRTQ and Fonds immobilier de solidarité FTQ Provide Better Housing to 1,000 Families

LÉVIS, QC, June 12, 2018 /CNW Telbec/ - The achievements of the Fonds d'acquisition Québécois (FAQ), a financial tool created by the Association des groupes de ressources techniques du Québec (AGRTQ) and the Fonds immobilier de solidarité FTQ, were presented today at a press conference in Lévis, attended by Alain Marcoux, President of the AGRTQ, and Normand Bélanger, President of the Fonds immobilier de solidarité FTQ.

"Our partner, the Fonds immobilier de solidarité FTQ, believed in this financially reliable and socially important tool. The FAQ allows us to support community housing projects and vulnerable people. Finding land or buildings will always be a big challenge for groups that develop community housing, which is why the Fonds d'acquisition québécois will continue providing the support required to seize buying opportunities and will remain an essential development lever for many projects," said Alain Marcoux, president of the AGRTQ.

"It's our job, as a financial partner, to find novel solutions to meet the needs of all clienteles. The FAQ makes building or renovation projects possible across Québec. To date, we have allocated $71 million for these types of projects. Together with GRTs, NPOs, governments, cities and municipalities, we help build more supportive, better quality and safer living environments, which is very rewarding for us," said Normand Bélanger, President and CEO of the Fonds immobilier de solidarité FTQ.

As a result of this partnership between the community housing and private sectors, more than 1,000 households across Québec enjoy quality housing and better living conditions. The Miscéo project launched by the Office municipal d'habitation de Lévis and that marked the 1,000th unit financed was highlighted at this press conference.

The Office Municipal d'Habitation de Lévis, assisted by the GRT Habitation de Lévis, has submitted a funding request to the Société d'Habitation du Québec (SHQ) for a moderate-income housing project.

The project involves the construction of a new building containing:

• 55 units
• Commercial space on the ground floor
• A community room on the ground floor
• Underground parking

The commercial space in this mixed-use project will house the new offices of the Office Municipal d'Habitation de Lévis.

Since its inception in 2009, 40 community housing projects have been carried out, for a total of 1,144 units across Québec.

About the FAQ

The Fonds d'acquisition québécois is a financial tool created by the Association des groupes de ressources techniques du Québec in partnership with the Fonds immobilier de solidarité FTQ to offer housing organizations (NPOs, co-ops, the Office municipal d'habitation) temporary loans to purchase land or buildings.

About the AGRTQ

The AGRTQ is a social economy network made up of 25 Groupes de ressources techniques (GRT) across Québec dedicated to the promotion and development of community housing to meet the needs of low- and moderate-income households.

About the Fonds immobilier de solidarité FTQ

The Fonds immobilier de solidarité FTQ promotes economic growth and employment in Québec by strategically investing in profitable and socially responsible real estate projects in partnership with other industry leaders. The Fonds immobilier backs residential, office, commercial, institutional and industrial projects of all sizes across Québec. As at December 31, 2017, the Fonds immobilier had 47 projects in development or in construction, 53 properties under management, 14 million square feet of land for development and $71.3 million allocated to affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council.

SOURCE Fonds de solidarité FTQ