179 STUDENT HOUSING UNITS SLATED FOR CONSTRUCTION IN TROIS-RIVIÈRES BY UTILE THANKS TO GOVERNMENT CONTRIBUTIONS AND COMMITTED PARTNERS

TROIS-RIVIÈRES, QC, June 21, 2023 /CNW/ - The Unité de travail pour l'implantation de logement étudiant (UTILE) is proud to announce the construction of La Canopée, a building that will provide students with 179 units of sustainable affordable student housing. The site is located at 3766 boulevard Jean-XXIII, less than 10 minutes' walking distance from the Université du Québec à Trois-Rivières (UQTR) campus. The delivery of The Canopy is scheduled for the summer of 2024, just in time for the start of school. This will be the first student housing project in Trois-Rivières supported by the UTILE with sustainable rents.

The project is made possible by the generous support of several partners, including the Government of Canada, the Government of Québec, the Fonds de solidarité FTQ and various other partners through the creation of the Capital Social d'Investissement Immobilier (CSII) fund, which is managed by the Association des groupes de ressources techniques du Québec. The project is also supported by the Government of Quebec and Fonds de solidarité FTQ through an agreement leading to the creation of the Fonds capital pour TOIT fund. The City of Trois-Rivières and UQTR's student union are also partners in the project.

The building will be steps away from all essential services as well as the UQTR bus terminal, which gives students access to the city's entire public transit network. Inviting indoor and outdoor common areas will provide students with shared spaces to study and relax and encourage them to socialize. There will be study rooms, laundry facilities, a parking lot for bikes to promote active transportation, and an outdoor vehicle parking lot.

Green spaces around the building and parking lot will help cool the air and reduce heat islands, thereby improving the well-being of tenants and reducing the project's environmental footprint.

"We would like to thank our public- and private-sector partners. Their support has made it possible for us to move ahead with construction of La Canopée. With nearly 70% of the local student population living on an annual income of $20,000 or less?including loans, scholarships, bursaries, and gross wages?Trois-Rivières is one of the university cities where students are most vulnerable. It is no wonder that nearly two thirds of Trois-Rivières student households rent apartments with 2 or more bedrooms to share the cost of housing. By creating a sustainable, high-quality living environment adapted to the needs of a student clientele, UTILE wants to help students achieve greater financial stability while revitalizing the city's aging rental housing stock and freeing up larger units for families."
? Laurent Levesque, Co-Founder and Executive Director, UTILE

"Everyone deserves a safe and affordable place to call home. Thanks to the Affordable Housing Innovation Fund and the Capital Social d'Investissement Immobilier fund, 179 students in Trois-Rivières will be able to move into safe and comfortable housing. By working closely with our partners to create more affordable housing, your government continues to achieve meaningful results for Canadians. This is just one of the many ways our investments in housing across the country continue to ensure that no one is left behind." ? The Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion

"The construction of Canopy is excellent news for improving the quality of life of students in Trois-Rivières! Access to affordable housing during school is an asset for a university campus like UQTR. Good housing benefits education and improves the social and academic lives of our students. By supporting this project, our government is proud to provide tangible housing solutions by improving access to affordable and quality housing for the student community, all in close proximity to university campuses." - Francois-Philippe Champagne, Minister of Innovation, Science and Industry

"To improve the supply of housing that meets the needs, all the players who can play an active role in housing must come up with their solution and work together. We have to get out of conventional models and combine the forces to meet the needs of various clienteles. That is the beauty of this project, which brings together three levels of government, the private sector, foundations and the community. Thanks to the common desire of the partners in the La Canopée project, students will be able to continue their education in Trois-Rivières with the assurance that they will be well housed. It is my fervent hope that this will be the first of a long series of similar projects across Quebec." - France-Élaine Duranceau, Minister Responsible for Housing

"The quality of our educational institutions and the socio-economic vitality of our region attract a large and varied clientele to our region. We are proud of that reputation. We need to be able to properly house the people who chose Trois-Rivières to prepare their careers. The Canopy project addresses an important need. I am proud of our Government's significant financial contribution and I congratulate all the partners who believed in it and will make it possible."- Jean Boulet, MNA for Trois-Rivières, Minister of Labour, Minister responsible for the Mauricie region and the Nord-du-Québec region

"The construction of this new building will enhance the housing supply for the benefit of the university community in Trois-Rivières. Students will have access to a modern, quality living space. With its 180 new units, this major investment project will make a tangible contribution to the growth of our city and university by meeting the needs of the student population. I would like to sincerely thank all the stakeholders and partners involved for their exceptional contribution to this wonderful project." - Daniel Cournoyer, Deputy Mayor of Trois-Rivières 

"Our support for the UTILE project in Trois-Rivières is in line with our goal of meeting the needs of social and affordable real estate stakeholders. Over the years, the Fonds immobilier de solidarité FTQ has supported the construction or renovation of nearly 8,000 affordable housing units in Quebec, a record of which we are proud and which will continue to grow in the coming years. We would like to take this opportunity to congratulate the ESD team for their unique model that we believed in from the beginning. This new project will provide affordable housing for students while freeing up housing for Trois-Rivières households." - Martin Raymond, President and CEO of the Fonds immobilier de solidarité FTQ

"On behalf of Ivanhoé Cambridge and all the partners of the Capital Social d'Investissement Immobilier (CSII) fund, I am delighted to take part in the announcement of this first project financed by this fund, which brings together government, private sector and institutions and philanthropy around community housing in Quebec. Ivanhoé Cambridge is more interested than ever in addressing affordability issues, including investing more in Quebec's residential sector. With our investment in La Canopée, we are very pleased to enter the student housing sector, a first for us in Quebec, since we know that the needs are great. Finally, we are proud to support dynamic local players like UTILE, which is doing an outstanding job of finding innovative solutions to house Quebec students." - Élise Proulx, Chief Economic Development Officer, Quebec, Ivanhoé Cambridge

"This day recognizes the hard work and collaboration between our two organizations in making this project a reality and has been for several years. The issue of student housing remains a major concern for our association and our participation exemplifies our commitment to promoting access to quality, affordable housing for students." - Jérémy Mignot, Finance and Service Development Coordinator, Association générale étudiante de l'Université du Québec à Trois-Rivières

• 56 052 sq. ft. lot and 77 768 sq. ft. total building area, including 62 990 sq. ft. of residential rental space
• 6-storey building with 179 student apartments
• Includes semi-furnished apartments
• Indoor and outdoor common areas, including study rooms, lounges, and laundry facilities
• Parking lot for bikes
• Outdoor vehicle parking lot (52 spaces)
• Green spaces around the building and parking lot
• Located at 3766 boulevard Jean-XXIII, less than 10 minutes' walking distance from the Université du Québec à Trois-Rivières (UQTR) campus
• Near the UQTR bus terminal, which connects students to the city's entire public transit network
• Walking distance from local businesses and green spaces

The Capital social d'investissement immobilier (CSII) fund is a $151-million financial tool made possible by contributions from Canada Mortgage and Housing Corporation ($30 million), the Société d'habitation du Québec ($30 million), the Fonds immobilier de solidarité FTQ ($30 million), Ivanhoé Cambridge ($30 million), the Lucie and André Chagnon Foundation ($20 million), Fondaction ($5 million), the Mirella and Lino Saputo Foundation ($5 million) and the J. Armand Bombardier Foundation ($1 million). It provides loans for housing co-operatives, non-profits, and housing societies to finance some 1,500 affordable housing units in Quebec. It is managed by the Association des groupes de ressources techniques du Québec.

About the Capital pour TOIT fund

The Capital pour TOIT fund was capitalized by the Société d'habitation du Québec ($175 million) and the Fonds de solidarité FTQ ($75 million) and meets the needs of housing non-profit organizations, co-operatives, and societies by providing loans for their affordable housing projects. It is managed by the Fonds immobilier de solidarité FTQ.

SOURCE Canada Mortgage and Housing Corporation