Canada, Quebec Partner to Fast-Track Affordable Housing in Montreal and Rimouski

The Canadian, Quebec, and Montreal governments have joined forces to accelerate affordable housing construction through a new fast-track program. The initiative will see the development of 1,001 affordable homes in Montreal and Rimouski, Quebec, with developer Société de développement Angus receiving $193.5 million in subsidies for the project. The funds will cover roughly half the cost of building 677 units in Montreal and 324 in Rimouski. These units will remain affordable for at least 35 years, with rent prices determined by the provincial housing agency. The program leverages experienced developers known for their efficiency, aiming to expedite the construction process. Developers can apply to the program, and selections are based on factors such as past construction quality and the ability to meet budgets and deadlines.