More Than $400 Million in Additional Funding to Support Affordable Housing in Quebec

LAVAL, QUEBEC--(Marketwired - Jan. 16, 2017) - The Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation, and Martin Coiteux, Minister of Municipal Affairs and Land Occupancy, Minister of Public Security and Minister responsible for the Montréal region, today announced investments of more than $400 million over two years to give Quebeckers greater access to affordable and social housing.

These investments will help improve access to affordable and social housing for households in need, particularly by supporting the creation and renovation of housing for seniors and victims of family violence and addressing repairs of existing social housing. The governments of Canada and Quebec are working together on the implementation of this agreement.

Under this two-year agreement, $286 million will be committed by the Government of Canada and $121 million by the Government of Quebec to affordable and social housing investments in Quebec.

The announcement was made in Laval, near the site of Immeubles Val-Martin, in the presence of Eva Nassif, Member of Parliament for Vimy, Francine Charbonneau, Minister responsible for Seniors and Anti-Bullying and Minister responsible for the Laval region, and Marc Demers, Mayor of Laval. This project will receive $18.2 million under this agreement. This funding will allow for the reconstruction of 124 social housing units for families and individuals.

Quotes

"Our Government is committed to investing in affordable housing, strengthening our communities and helping to create jobs and grow the middle class and those working hard to join it. We are providing better places for families, seniors and individuals to live and building a strong foundation for a sustainable economic future." - Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation

"This agreement will help Quebec build and renovate more social and affordable housing units, while keeping all the flexibility needed to prioritize and develop major projects. The case of Immeubles Val-Martin is a great example of what we can do with this funding. The funding announced today is in addition to the hundreds of millions of dollars invested every year by the Government of Quebec in support of Quebec households in need of affordable housing." - Martin Coiteux, Minister of Municipal Affairs and Land Occupancy, Minister of Public Security and Minister responsible for the Montréal region

Quick facts

• A new investment of $286.3 million from the federal government and $121.2 million from the Government of Quebec will help Quebeckers in need access affordable housing. These investments are in addition to the $577 million in joint funding currently provided under the Investment in Affordable Housing (IAH) Agreement 2014-2019.
• The new two-year funding includes:
  • $48.4 million to support the construction, repair and adaptation of affordable housing for seniors;
  • $22.2 million to support the construction and renovation of shelters and transition houses for victims of family violence;
  • $94.5 million to help address the demand for repairs as social housing units age and to improve efficiency and reduce energy and water use; and
  • $242.4 million as part of the commitment to double current funding levels under the IAH Agreement to increase the supply of affordable housing in Quebec.
• The Government of Quebec designs and chooses the programs that it wants to deliver and also has the flexibility needed to implement a range of affordable housing programs in order to meet the needs of its population.
• The project for the regeneration of a portion of Immeubles Val-Martin represents a total investment of $18.2 million. The work, which will begin in the summer of 2017, will be carried out over a two-year period.

About CMHC and the SHQ

• Canada Mortgage and Housing Corporation (CMHC) has been helping Canadians meet their housing needs for more than 70 years. As Canada's authority on housing, 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 Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of CMHC's operations. For more information, please call 1-800-668-2642 or visit cmhc.ca follow CMHC on Twitter, YouTube, LinkedIn and Facebook.

• The mission of the Société d'habitation du Québec (SHQ) is to facilitate citizens' access to appropriate housing conditions. Thanks to its programs and many partners, the SHQ helps more than 229,000 Quebec households. To get more information on the programs and services offered by the SHQ, to find out more about its activities and achievements or to get advice on housing, visit www.habitation.gouv.qc.ca/english.html.

BACKGROUNDER

Investments in Affordable Housing in Canada

Measures over the next two years to give Canadians greater access to more affordable housing include the following:

• Doubling of the current Investment in Affordable Housing (IAH) funding levels by the Government of Canada and provinces and territories, to more than $1 billion over two years (2016/2017 and 2017/2018).
• Through the IAH, the Government of Canada is also providing over two years:
  • $200.1 million to support the construction, repair and adaptation of affordable housing for seniors;
  • $89.9 million to support the construction and renovation of shelters and transition houses for victims of family violence;
  • $177.7 million⁽ⁱ⁾ to address the housing needs in the North and Inuit communities; and
  • $490 million for retrofits and renovations of social housing units in Canada. This funding is in addition to the $77.7 million being delivered by the Government of Canada, through Canada Mortgage and Housing Corporation.

⁽ⁱ⁾ Part of this funding will be delivered through Indigenous and Northern Affairs Canada (INAC).