More Rental Housing for 80 families in Gatineau

Government of Canada (CNW Group/Canada Mortgage and Housing Corporation)

Canada Mortgage and Housing Corporation (CMHC) (CNW Group/Canada Mortgage and Housing Corporation)

GATINEAU, QC, May 25, 2021 /CNW/ - Every Quebecer deserves a safe and affordable place to call home. Thanks to investments made by the Government of Canada, residents of Gatineau now have access to more stable rental housing options.

Today, the Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC), alongside Steven MacKinnon, MP for Gatineau and Parliamentary Secretary to the Minister of Public Services and Procurement, announced a close to $20.7 million low-cost loan to help construct the new residential building located at 150 Jeannine-Grégoire-Ross in Gatineau.

Domaine La Baie, by Devcore, is a three-storey, plus mezzanine, residential building that is providing Gatineau with 80 new units of much needed rental housing close to public transit, schools and services for families.

The project received funding through CMHC's Rental Construction Financing initiative (RCFi), a National Housing Strategy program that supports rental housing construction projects to encourage a stable supply of rental housing for middle-class families in expensive housing markets.

Quotes:

"Every Quebecer deserves a safe and affordable place to call home. That's why our government is taking action to increase the supply of affordable rental housing through projects like the one we are announcing today in Gatineau. Domaine La Baie will provide families better access to jobs, services and the amenities they need." – The Honourable Ahmed Hussen, Minister of Families, Children and Social Development and Minister responsible for Canada Mortgage and Housing Corporation (CMHC)

"It has become clear, in the past year, that nothing is more important than a home. Gatineau families work hard and deserve a safe and affordable place to call home where they can thrive and spend more time with their children. The Government of Canada's involvement in this project demonstrates our commitment to that belief. Together we are building a generation of new, permanent housing that we can all be proud of." – Steven MacKinnon, MP for Gatineau and Parliamentary Secretary to the Minister of Public Services and Procurement

"We are very pleased to have been among the first in Quebec to participate in this program for the creation of affordable housing. We had owned the land for several years and were looking to build a large scale project where people could benefit from the prime location, in a natural setting, with no rear neighbors and located on the shores of McLaren Bay. I can confirm that the program is working and is very advantageous for developers and announce today that we will be sold out when this beautiful project is delivered on July 1st of this year. Thank you to the Devcore team, the City of Gatineau, CMHC and the Government of Canada for making this possible through your program for the benefit of our 150 residents." – Jean-Pierre Poulin, Devcore

Quick facts:

• The Project is designed to achieve energy efficiency savings of 33.8% and greenhouse gas emission reductions of 33.8%, relative to the requirements of the 2015 National Energy Code for Buildings.
  
  
• Domaine La Baie will have barrier free access; at least two units will be universal design and at least two units will be adaptable, in addition to eight units that will meet or exceed the local accessibility standards.
  
  
• Through the RCFi, the Government of Canada is encouraging the construction of more than 71,000 new rental housing units.
  
  
• A stable supply of rental housing is critical to ensure that more Canadians have access to housing that meet their need and that they can afford. This is a great option for middle class Canadians who are experiencing affordability pressure in many markets with high home prices and lack of rental supply.
  
  
• Launched in April 2017, the RCFi has generated significant interest in the industry, which has led to an expansion of the program. Through Budget 2019, the Government of Canada increased the total amount available in loans to $13.75 billion.
  
  
• Given the high demand for the program, the Government again expanded the RCFi in the 2020 Fall Economic Statement by adding an additional $12 billion over 7 years, starting in 2021-22. The program now totals $25.75 billion in low-cost loans.
  
  
• To help Canadians find affordable housing, Budget 2021 proposes to provide an additional $2.5 billion over seven years in new funding and a reallocation of $1.3 billion in previously announced funding to speed up the construction, repair, and support over 35,000 additional housing units.
  
  
• Budget 2021 proposes that $300 million over two years (2021-22 and 2022-23) from the RCFi be allocated to support the conversion of vacant commercial property into 800 units of market-based rental housing. As the demand for retail and office space has changed due to COVID, some landlords, particularly in major urban cores, are facing higher vacancies. This is an opportunity for property owners and communities to explore converting excess space into rental housing, enhancing the livability and affordability of urban communities.
  
  
• Canada's National Housing Strategy (NHS) is a 10-year, $70+ billion plan that will give more Canadians a place to call home—this includes more than $13 billion committed through the 2020 Fall Economic Statement.

Associated links:

• As Canada's authority on housing, 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. For more information, please visit cmhc.ca or follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
  
  
• To find out more about the National Housing Strategy, visit www.placetocallhome.ca.

SOURCE Canada Mortgage and Housing Corporation

Mikaela Harrison, Press Secretary, Office of the Minister of Families, Children and Social Development, [email protected]; Audrey-Anne Coulombe, Canada Mortgage and Housing Corporation, [email protected]

Related Links

www.cmhc-schl.gc.ca