Le Lézard
Classified in: Business
Subject: CFG

Building with 100 social and affordable housing units for independent seniors to be built in Granby thanks to an innovative partnership


GRANBY, QC, April 2, 2024 /CNW/ - The governments of Canada and Quebec, in collaboration with Mission Unitaînés and the City of Granby, have announced the construction of 100 new social and affordable housing units for independent seniors over the next two years. Funding for these units stems from the recent bilateral agreement concluded between the governments of Canada and Quebec on the Housing Accelerator Fund (HAF).

The six-storey building to be constructed in Granby represents a government investment of $23.5 million, in addition to the City of Granby's contribution, which is providing the land and certain breaks on taxes and utility connection costs. A philanthropic donation from Luc Maurice will round out the funding package. The work should be completed in the spring of 2026. Once construction is finished, a non-profit organization will manage and maintain the building using a $500,000 contingency fund provided by Mission Unitaînés. The non-profit will also select the building's residents. The organization will be determined shortly by the City of Granby.

The building will include 100 units, with rents varying based on unit surface area. Equipped with two elevators, sprinklers and a scooter parking area, it will also include a multi-purpose common room, an outdoor patio and naturescaping to foster socialization among residents. The monthly costs for a unit will be set at about $595 for a bachelor apartment and $900 for a two-bedroom unit.

The announcement was made by the Honourable Pascale St-Onge, Minister of Canadian Heritage and Member of Parliament for Brome?Missisquoi, along with François Bonnardel, Quebec Minister of Public Security, Minister Responsible for the Estrie Region and Member of the National Assembly for Granby, on behalf of France-Élaine Duranceau, Quebec Minister Responsible for Housing; Julie Bourdon, Mayor of the City of Granby and Caroline Sauriol, President and CEO of Mission Unitaînés.

An innovative, multi-party partnership

This total investment of $235 million by both levels of government aims to build ten 100-unit buildings in 10 cities across Quebec, including Granby.

The government funding is tied to the $900 million in federal funding provided to Quebec through the Canada-Quebec agreement under the Housing Accelerator Fund and the new $900-million investments announced by Quebec in its fall 2023 economic update.

The contribution of each municipality involved in one of the construction projects amounts to between $3 million and $5 million, either in kind or in the form of a grant. This includes the transfer of land ready to build on, a three-year tax exemption starting on the transfer date of the land with the building and a building permit (or equivalent subsidies) and utility connections.

The charitable organization Mission Unitaînés will be responsible for designing and constructing the 10 buildings. At completion, the organization will provide the municipality, or a non-profit organization designated by the municipality, with a building ready for commissioning for a nominal fee and no mortgage. In addition, each building will have a $500,000 reserve fund from a philanthropic donation by Luc Maurice, Chair of the Board of Directors of Mission Unitaînés. Other partners will complement the funding with philanthropic contributions to enhance the residents' quality of life.

Thanks in particular to economies of scale and the partners' expertise, this new model has the advantage of creating 1,000 units at a lower cost than the units the Société d'habitation du Québec (SHQ) is currently developing in several Quebec regions. It also ensures that the buildings will be debt-free.

Quotes:

"The implementation of the Housing Accelerator Fund in Quebec is paving the way for innovative solutions. The partnership between Mission Unitaînés and the municipalities, supported by funding from the governments of Canada and Quebec, will allow more housing units to be built, more rapidly, to provide appropriate housing to thousands of low- and moderate-income seniors." 

The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities

"I've often said that we need to innovate to build more and better, especially in the middle of a housing crisis. This collaboration with Mission Unitaînés is proof that our government is taking concrete action, together with our federal partner and the municipalities, to better house seniors in Quebec. I'm excited by this project, which mobilizes stakeholder expertise to very quickly build quality affordable housing. We are determined to deliver results through this partnership."

France-Élaine Duranceau, Quebec Minister Responsible for Housing and Member of the National Assembly for Bertrand

"Thanks to partnership projects like the one with Mission Unitaînés, we are innovating to improve lives in our communities. By building 100 new units in Granby, we provide to hundreds of seniors a safe and comfortable home that they can afford and where they can age better. Together, we are building a future where everyone can reach their full potential. Our commitment to Quebecers is reflected by our concrete actions that make a real difference."

The Honourable Pascale St-Onge, Minister of Canadian Heritage and Member of Parliament for Brome?Missisquoi

"I'm proud to see that we're leveraging all the resources at our disposal to improve the quality of life for low-income seniors in the Estrie area. The involvement of an organization like Mission Unitaînés, combined with contributions from the provincial and federal governments and the City of Granby, shows that we can be agile and join forces to build quality living spaces. I'm thrilled that our seniors will benefit from this project, and I applaud the commitment of all the partners."

François Bonnardel, Quebec Minister of Public Security, Minister Responsible for the Estrie Region and Member of the National Assembly for Granby

"The Mission Unitaînés project in Granby will improve the housing offer for our seniors. Located in the heart of the downtown core, close to many local services, this new living environment is a direct response to the issue of housing accessibility - a priority for the municipal council. I would like to thank Mission Unitaînés for selecting our city to carry out this magnificent project." 

Julie Bourdon, Mayor of Granby

"This meaningful project is in line with the mission I've set myself to help people in our society age better, so that they feel safer, freer, happier and less isolated. Twenty-five years of working intensively to build and develop seniors' housing has given me a good understanding of their needs as well as solid expertise in the design, construction and management of state-of-the-art retirement housing. I would now like to put that expertise to work in the service of less affluent seniors. I'm also very grateful to those who have contributed to making this wonderful challenge a reality so quickly."

Luc Maurice, Chair of the Board of Directors of Mission Unitaînés

Highlights:
About the Société d'habitation du Québec

As a leader in housing, the SHQ's mission is to meet the housing needs of Quebecers through its expertise and services to citizens. It does this by providing affordable and low-rental housing and offering a range of assistance programs to support the construction, renovation and adaptation of homes, and access to homeownership.

To find out more about its activities, visit www.habitation.gouv.qc.ca/english.

SocietehabitationQuebec
HabitationSHQ
LinkedIn

About Canada Mortgage and Housing Corporation

As Canada's authority on housing, Canada Mortgage and Housing Corporation (CMHC) 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 aim is that, by 2030, everyone in Canada has a home they can afford and that meets their needs. For more information, follow us on TwitterInstagram, YouTube, LinkedIn and Facebook.

SOURCE Canada Mortgage and Housing Corporation (CMHC)


These press releases may also interest you

at 00:01
Boston Consulting Group (BCG) today released its Annual Sustainability Report: From Bold Ideas to Exponential Impact. The report showcases the firm's work throughout 2023 to find the most valuable, sustainable, and innovative solutions to pressing...

at 00:00
The Riverside Company, a global private investor focused on the smaller end of the middle market, has closed the acquisition of Arbeidsmiljø og Energiteknikk AS (AET), a Norwegian distributor of third-party consumables and laboratory / cleaning...

at 00:00
COEUS Solutions, a leading provider of innovative technologies and services in the life sciences industry, today announces its rebranding to BridgeView Life Sciences ("BridgeView") following a recent spinoff from its former parent company. This marks...

at 00:00
ILoveLeasing, the pioneering CRM AI solution by Spherexx, has been recognized as one of the standout innovators at the prestigious 28th Webby Awards. Selected as one of the top three Honorees in its category, ILoveLeasing shines amidst a global pool...

29 avr 2024
AIP Realty Trust (the "Trust" or "AIP") today announces as part of its preparation to execute its forward plan, that it has completed an issuance of 1,500,000 Class A Trust Units (each, a "Unit") at a deemed issue price of US$0.50 per Unit in...

29 avr 2024
Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to welcome the listing of Asia's first Spot Virtual Asset (VA) ETFs on 30 April (Hong Kong time), adding to the diversity of products in Hong Kong's markets and further supporting the city's...



News published on and distributed by: