SHERBROOKE, QC, May 24, 2023 /CNW/ - Today, Soraya Martinez Ferrada, Parliamentary Secretary to the Minister of Housing, Diversity and Inclusion (Housing), along with Élisabeth Brière, Member of Parliament for Sherbrooke, announced that the Government of Canada has invested more than $1.2 million to create 25 new affordable housing units in Sherbrooke. The federal representatives also announced the construction of 100 rental units in Sherbrooke through a repayable loan of $32.1 million.
Handi-Ressource, located at 977 Galt Street in Sherbrooke, received a $1.2 million contribution through the Canada-Quebec Housing Agreement for the construction of 25 affordable housing units for people with physical disabilities. The building houses, among other things, a dining room as well as a community space that allows tenants to practice various activities. The project welcomed its first residents at the beginning of the year.
Le Chardonnay, located at 501 du Chardonnay Street, has received a $32.1 million low-interest repayable loan through the Rental Construction Financing initiative (RCFi) for the construction of 100 units. Developed by Gestion Fauteux Nadeau Inc, Le Chardonnay will provide much needed rental housing in a market where the vacancy rate is currently only 0.9%. Construction of the project began in November 2021 and is expected to be completed in June 2023.
"Today's investment addresses a variety of needs in housing. It's about providing housing for the most vulnerable while increasing supply in a market that needs more rental options. This is the National Housing Strategy at work." - Soraya Martinez Ferrada, Parliamentary Secretary to the Minister of Housing and Diversity and Inclusion
"Here are two incredible projects that will have a major impact on our community. With the Handi-Ressources project, your government is helping to ensure that the most vulnerable people living in Sherbrooke have access to safe, affordable housing that allows them to thrive. The Chardonnay will provide a home for individuals and families in need of housing in Sherbrooke. These projects are great examples of how your government is creating housing solutions for Sherbrooke." - Élisabeth Brière, Member of Parliament for Sherbrooke
The Rental Construction Financing Initiative (RCFi) provides low-interest repayable loans to encourage the construction of purpose-built rental housing and to increase the supply of rental housing. The initiative focuses on standard rental apartment projects in Canada for general occupancy in areas where more rental housing is needed.
- Through RCFi, the federal government is encouraging the construction of over 71,000 rental units.
- A stable supply of rental housing is essential to ensure that more people in Canada have access to affordable housing that meets their needs. Rental housing is an excellent option for the middle class in many markets where housing prices continue to rise and there is a shortage of rental housing.
- Handi-Ressources was created by the Handi Apte organization, whose mission is to work to keep physically disabled people at home and to promote their social participation in order to improve their quality of life.
As Canada's housing authority, CMHC contributes to a stable housing market and financial system, helps Canadians in need, and provides unbiased research and advice to all levels of government, consumers and the housing industry across the country. CMHC's goal is that by 2030, everyone in Canada will be able to afford a home that meets their needs. To learn more, visit schl.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
To learn more about the National Housing Strategy, please visit www.placetocallhome.ca
SOURCE Canada Mortgage and Housing Corporation
Personnes-ressources : Mahreen Dasoo, Office of the Minister of Housing and Diversity and Inclusion, [email protected]; Media Relations, Canada Mortgage and Housing Corporation, [email protected]
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