THE FEDERAL GOVERNMENT ANNOUNCES OVER $50 MILLION FOR THE LARGEST RESIDENTIAL RENTAL PROJECT AT THE EASTERN END OF THE ISLAND OF MONTRÉAL

MONTRÉAL, Jan. 27, 2025 /CNW/ - Today, the federal government announced an investment of nearly $50 million for the construction of 144 purpose-built rental units. The MileBrook is the largest mixed-use rental project ever built at the eastern end of the Island of Montréal.

The MileBrook is a $340 million project that will ultimately provide more than 800 rental units. Located on the last mile of Sherbrooke Street, this multi-generational project meets a high demand for housing and local businesses in this area.

Committed to sustainable development, the project is protecting the wetlands located on its lot and will feature green spaces, green roofs and a community garden. The MileBrook offers units that are 25% more energy efficient than the building code requires and aims to achieve LEED Platinum certification.

The announcement was made on the site of the MileBrook project, in Montréal, by the Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec, on behalf of the Honourable Nathaniel Erskine-Smith, Minister of Housing, Infrastructure and Communities.

The MileBrook also associated with the Fondation Louis-Charles Routhier to support the mission of the Mères avec pouvoir organization. Each year, thanks to significant donations from the Fondation, units will be designated for low- or modest-income single mothers supported by this organization. Over 85% of women supported by Mères avec pouvoir get a diploma or a job. To date, 250 women benefitted from the services of the organization.

Funding is provided as fully repayable, low-interest loans through the Apartment Construction Loan Program (ACLP, formerly the RCFi). The ACLP stimulates rental housing construction by providing builders and developers with low-cost repayable loans. The program is helping to build more than 131,000 apartments across Canada.

Quotes:

"Rental housing is a fundamental component of healthy and inclusive communities. By investing in our communities, we are growing the economy of Canada, and of Quebec, and supporting the vitality of our cities, like Montréal. The MileBrook project is about more than housing–it's a community where families can thrive.  – The Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec

"By making it easier, less costly and faster to build rental housing in Montréal, our government ensures that Quebec families have access to a safe and affordable place to call home. Today's announcement marks another step in our work to end Canada's housing crisis once and for all."  – The Honourable Nathaniel Erskine-Smith, Minister of Housing, Infrastructure and Communities 

"MileBrook is an important residential and commercial development project for our borough and for the Bout-de-l'Île. These new dwellings will offer an interesting mix of units as well as allow the arrival of much-needed new businesses in this area." – Caroline Bourgeois, Mayor, Rivière-des-Prairies–Pointe-aux-Trembles Borough

"Thirty-five years ago, our late father Louis-Charles Routhier bought this land with the ambition to create a safe place to live for families in the East. For the past four years, we have been actively working on the MileBrook project, working closely with the borough of Rivières-des-Prairies-Pointe-aux-Trembles to ensure the sustainability of the neighbourhood. The construction of these first rental units, many of which are affordable, marks the beginning of a new living environment in this sector." – Routhier Monette Family, Courose Real Estate

"Mères avec pouvoir is a non-profit organization whose mission is to promote the optimal development and well-being of women and their children from birth to age five, a population group in this area that is larger than the Island of Montréal average, in order to ensure their social and professional integration. Collaborating with the Fondation Louis-Charles Routhier on the MileBrook project will ultimately allow to double the impact of Mères avec pouvoir by allowing many families to have a home." – Valérie Larouche, General Manager of Mères avec pouvoir.

Quick facts: 

• The Apartment Construction Loan Program (ACLP) is part of the Government of Canada's National Housing Strategy (NHS), a plan for investing more than $115 billion over 10 years to give more people in Canada a place to call home.
• The ACLP offers fully repayable, low-interest loans to help boost rental construction for middle-class Canadians. This program has a positive impact on the housing system at minimal cost to taxpayers.
  • It is one of many NHS programs and initiatives designed to help meet housing needs across the country.
  • It complements other NHS initiatives that emphasize funding for affordable housing for low-income households.
  • Through the program, the federal government is boosting the construction of more than 131,000 rental units by 2031–2032.
  • A stable supply of rental housing is essential to ensuring that more people in Canada have access to housing that meets their needs.
• In addition to the $15 billion announced in the 2023 Fall Economic Statement for the ACLP, the 2024 budget announced an additional $15 billion in loans to build at least 30,000 new rental apartments, bringing the total funding to $55 billion.
• As of March 2024, the federal government had committed nearly $51 billion to support the construction of more than 146,000 housing units and to complete repairs on an additional 286,000. The measures prioritize those in greatest need, including seniors, Indigenous people, people experiencing or at risk of homelessness, and women and children fleeing violence.

Highlights of the MileBrook project:

• A new 3- to 8-floor project with over 800 rental units.
• Units range in size from 400 to 2,200 square feet. Bachelors, one-bedroom, two-bedroom, three-bedroom units along with townhouses are available.
• Outdoor training modules and children's play areas.
• A bicycle storage pavilion.
• Two community gardens.
• Access to the future bike path.
• Green spaces to protect the wetlands located on the large lot.

About Courose Real Estate

• Founded 35 years ago, Courose Real Estate partners with real estate developers and builders who take a human approach to realizing residential real estate projects for the residents of Montréal's east end. Owned by the Routhier family, Courose Real Estate wants to offer high-quality living environments for families. For more information on the MileBrook, visit lemilebrook.com (in French only).

Related links: 

• 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, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
• Progress on programs and initiatives is updated quarterly at www.placetocallhome.ca. The Housing Funding Initiatives Map shows the affordable housing projects developed so far.

SOURCE Canada Mortgage and Housing Corporation (CMHC)