More than 700 rental units to be built in Montréal

MONTRÉAL, March 21, 2025 /CNW/ - The Government of Canada is investing more than $278 million to build 764 rental units in Montréal through the Apartment Construction Loan Program (ACLP).

The announcement was made by the Honourable Steven Guilbeault, Minister of Canadian Culture and Identity, Parks Canada, Quebec Lieutenant and Member of Parliament for Laurier–Sainte-Marie, accompanied by Anna Gainey, Member of Parliament for Notre-Dame-de-Grâce–Westmount, and Emmanuel Dubourg, Member of Parliament for Bourassa, on the site of the Station C project, located at 5311 Crowley Avenue in Montréal.

Station C is a 288-unit rental housing project that received more than $100 million in low-interest loans from the Government of Canada. The project's design focuses heavily on sustainable development and features exemplary housing accessibility standards. The building boasts attractive common spaces such as a green courtyard, a double-height glass entrance hall with lounging space, a fitness room, an urban cottage and a rooftop terrace. Located near the Vendôme subway station and transportation hub, Station C will provide fast, convenient access to the public transit network.

Rental construction in Canada hasn't kept pace with city and population growth. As a result, existing rental stock has been declining for decades and is aging. To address this issue, the federal government launched the ACLP to support rental housing construction across the country. Increasing the overall supply of rental housing is key to creating stronger, more vibrant communities where people can be proud to live.

Quotes:

"Through investments in rental housing, our government is providing assistance to those who need it most, here in Montréal and across the country. We are committed to revitalizing communities through initiatives like this one. These investments are helping to create jobs and stimulate the local economy." – The Honourable Steven Guilbeault, Minister of Canadian Culture and Identity, Parks Canada, Quebec Lieutenant and Member of Parliament for Laurier–Sainte-Marie

"The Government of Canada is committed to working with communities to rise to the challenge of building more housing in Quebec. Through the Apartment Construction Loan Program, our government is increasing the supply of new rental housing by investing more than $270 million in the construction of 764 units. This new housing will benefit middle-class individuals and families in Montréal." – Anna Gainey, Member of Parliament for Notre-Dame-de-Grâce–Westmount

"I am very proud of the fact that new projects are taking root in Montréal thanks to initiatives like the Apartment Construction Loan Program. These 764 new rental units in Montréal, of which 50 will be located in Bourassa, mean hundreds of families will have a new home that meets their needs." – Emmanuel Dubourg, Member of Parliament for Bourassa

"We are proud to contribute to the creation of nearly 300 new housing units in Côte-des-Neiges, in addition to the 200 new housing units we are currently building in Hochelaga-Maisonneuve.  The Station C project, which comes to life with the support of the CMHC's Apartment Construction Loan Program, is a fine demonstration of what is possible when we join forces to meet the critical need for rental housing in the metropolitan area.  At Rachel Julien, we firmly believe that the construction of quality rental housing plays an essential role in the development of more inclusive and vibrant cities." – Mélanie Robitaille, Vice-President and General Manager of Rachel Julien

"We're delighted to be working once again with CMHC to bring another flagship project to life during this challenging time for the Canadian rental housing market. The ACLP is an excellent initiative to increase the rental stock, while focusing on the pillars of accessibility and energy efficiency. The project at 1600 De Lorimier will contribute to the revitalization of the Centre-Sud district in the Ville-Marie borough, while preserving the historic building of the former Barsalou soap factory." – Michael Bertone, co-founder of Bertone Development Corporation.  

Quick facts:

• The National Housing Strategy (NHS) is a $115-plus billion plan spanning over 10 years that will give more Canadians a place to call home. Progress on programs and initiatives is updated quarterly at Housing, Infrastructure and Communities Canada (HICC). The Housing and Infrastructure Project Map shows the affordable housing projects developed so far.
  • As of December 2024, the federal government had committed $60.09 billion to supporting the construction of more than 156,000 housing units and the repair of more than an additional 298,000. The measures prioritize those in greatest need, including seniors, Indigenous people, people experiencing or at risk of homelessness, and women and children fleeing violence.
• The Apartment Construction Loan Program (ACLP) has a budget of $55 billion. It provides low-cost financing to support the construction of more than 131,000 rental units across Canada by 2031–2032.
  • The ACLP offers fully repayable, low-interest loans to help boost rental construction for middle-income Canadians. This program has a positive impact on the housing system at minimal cost to taxpayers.
  • A stable supply of purpose-built rental housing is essential to ensuring that more Canadians have access to housing that meets their needs.
  • As of December 2024, Canada Mortgage and Housing Corporation (CMHC) had committed $21.76 billion in loans through the ACLP to support the construction of more than 56,000 purpose-built rental units.
  • The ACLP is one of many NHS programs and initiatives designed to help meet needs across the housing continuum.
  • It complements other NHS initiatives that emphasize funding for affordable housing for low-income households.
  • The enhancements to the ACLP announced in Budget 2024 include extending the program from 2027–2028 to 2031–2032. These enhancements will allow applicants to obtain funding to create on-campus and off-campus student housing to support postsecondary institutions. It will also be possible to apply for funding to increase the supply of housing for independent seniors. There are no longer any minimum requirements regarding energy efficiency or accessibility. Applicants are, however, encouraged to make firmer commitments regarding the supply of rental housing and the achievement of desired social outcomes.

Additional information:

• Visit canada.ca/housing for the most-requested Government of Canada housing information.
• 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 everyone in Canada has a home they can afford, and that meets their needs. For more information, follow us on X (formerly Twitter),Instagram, YouTube, LinkedIn and Facebook.
• Progress on programs and initiatives is updated quarterly at Housing, Infrastructure and Communities Canada (HICC). The Housing and Infrastructure Project Map shows the affordable housing projects developed so far.

Appendix: Projects receiving funding under the Apartment Construction Loan Program

SOURCE Canada Mortgage and Housing Corporation (CMHC)