Partnership created for making of 1500 affordable housing units

The Government of Canada, the Government of Quebec, the Fonds de solidarité FTQ and Ivanhoé Cambridge have teamed up to make $120 million available to cooperatives, non-profit organizations and housing authorities to build or to renovate affordable housing. The Lucie and André Chagnon Foundation, Fondaction, the Mirella and Lino Saputo Foundation and the J. Armand Bombardier Foundation are contributing a total of $31 million. The Association des groupes de ressources techniques du Québec (AGRTQ) will oversee the projects arising from this partnership as of fall 2021.

The pooled $151 million will enable housing co-ops, non-profit organizations and housing authorities to secure long-term financing to build or to acquire and renovate some 1,500 affordable and family housing units in Quebec.

Lavery, de Billy, L.L.P. advised and supported the partners of this project in drafting and setting up the legal structure and documentation necessary for the creation and start-up of the consortium.