The governments of Canada and Quebec announce the selection of a 24-social-and-affordable-housing-unit project in Thetford Mines

THETFORD MINES, QC, Sept. 20, 2024 /CNW/ - The Honourable Marie-Claude Bibeau, Minister of National Revenue and Member of Parliament for Compton?Stanstead, and Isabelle Lecours, Member of the National Assembly for Lotbinière?Frontenac and Parliamentary Assistant to the Quebec Minister of Education, are proud to announce a project with 24 housing units has been selected in the second call for projects of the Société d'habitation du Québec's (SHQ's) Programme d'habitation abordable Québec (PHAQ).

Project details:

City/Town: Thetford Mines
Name of project: Logéa Thetford
Project developer: Le Renaissance Développement
Number of housing units: 24
Client group: Families

The Government of Canada's contribution comes through the Canada?Quebec Agreement under the Housing Accelerator Fund (HAF), by which Quebec has received $900 million from the federal government. The Government of Quebec also invested $900 million in new housing projects in the November 2023 economic update. The City of Thetford Mines is also a major financial partner for this project.

In response to the housing crisis, the governments of Canada and Quebec announced on February 16 that 2,574 new housing units will be quickly built across the province as part of 47 selected projects, including the one announced today. To ensure this project launches quickly, its developer must sign an agreement with a contractor within 12 months of being selected to remain eligible for PHAQ.

Quotes:

"Every Quebecer deserves a safe and affordable place to call home. The Government of Canada is proud to help create 24 new affordable housing units in Thetford Mines for the most vulnerable residents through the Canada-Quebec Agreement under the Housing Accelerator Fund. This demonstrates our unwavering commitment to ensuring that no one is left behind." 

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

"Thanks to the historic agreement we signed with the Government of Canada, we're in a position to announce the construction of additional housing under the Programme d'habitation abordable Québec. This good news for Thetford Mines shows our firm commitment to boosting construction of affordable housing across Quebec. Every Quebecer deserves a home that meets their needs."

France-Élaine Duranceau, Quebec Minister Responsible for Housing

"These new affordable units will provide seniors in the Thetford Mines area with a safe living environment designed to meet their needs. This is another great example of co-operation between community leaders and the various levels of government."

The Honourable Marie-Claude Bibeau, Minister of National Revenue and Member of Parliament for Compton?Stanstead 

"Our fellow citizens can count on our government to take concrete actions to tackle the housing crisis in our region. Today's announcement shows what happens when we work together. I applaud our local partners and, of course, Le Renaissance Développement, which believes that affordable, social housing can contribute to a better quality of life in our community."

Isabelle Lecours, Member of the National Assembly for Lotbinière?Frontenac and Parliamentary Assistant to the Minister of Education

"Considering that the vacancy rate is estimated at 0.3% in Thetford, the City must support actions that will provide new housing options for our residents. Like elsewhere in Quebec, demand for affordable housing continues to climb. We are therefore especially glad to be able to contribute to the Logéa project." 

Michel Verreault, Acting Mayor of the City of Thetford Mines

"Le Renaissance Group is proud to announce the construction of the Logéa Thetford project, which will include 24 affordable units, with the support of the SHQ, CMHC and the City of Thetford. Access to quality housing on a modest income has become an important issue. This project will give local people access to a comfortable unit without spending too much of their income on it, while contributing to the region's economic vitality. Developing affordable housing on an exceptional site is a way for us to bring our values of caring, vitality and challenge to life."

Vincent Fauteux, President, Le Renaissance Group

Highlights:

• To keep the other units affordable, a maintenance period for this assistance will be required. This period could last up to 35 years. Assistance rates will vary based on the term of the commitment. Rents may be indexed each year based on the percentages set by the Tribunal administratif du logement.
• The Programme d'habitation abordable Québec (PHAQ) aims to engage all partners who can develop affordable housing projects. Co-operatives, non-profits, housing bureaus and private-sector businesses can submit projects under the Program. The PHAQ also aims to accelerate residential construction, which is why its standards stipulate that projects must be started within 12 months of being selected.
• The Housing Accelerator Fund (HAF) is a $4-billion Government of Canada initiative launched in March 2023 that includes $900 million for Quebec. Its goal is to accelerate the construction of 100,000 additional housing units across the country.
• The Government of Quebec, as part of its fall 2023 economic update, also announced new investments of $900 million to accelerate housing construction.
• On December 11, 2023, the Government of Quebec announced the first wave of 14 projects from the PHAQ's second call for projects (in French only), representing 999 units in total.
• The Government of Quebec is firmly committed to continuing its work to accelerate the construction of residential units in the province through the Act respecting land use planning and development and other provisions. Furthermore, the government will set up an interdepartmental project acceleration group in collaboration with Quebec municipal authorities, and it will also adopt new government directions on land use planning, including metrics for residential construction that municipalities will be required to use as a basis for setting targets. The government also intends to propose legislative amendments (which are being drafted and are subject to adoption by the National Assembly) aimed at improving urban densification and streamlining multi-unit construction approval to reduce the associated timelines.

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 Twitter, Instagram, YouTube, LinkedIn and Facebook.

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.html.

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SOURCE Canada Mortgage and Housing Corporation (CMHC)