The funding will support the rapid development of low-cost housing
Federal and provincial governments have announced one of the widest-ranging housing investments ever in Quebec with a $1.476 billion affordable housing pledge over a period of seven years.
The investment was facilitated by the conclusion of the second Rapid Housing Initiative (RHI) agreement between Canada Mortgage and Housing Corporation (CMHC) and the Société d’habitation du Québec (SHQ).
Over the next year alone, a federal investment of nearly $338 million will support the rapid development of more than 1,300 new permanent low-cost housing units across the province.
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“In addition, the governments have agreed on the terms and conditions for the enhancement of the Shelter Allowance Program (SAP),” CMHC said. “With more than $1.1 billion in support, including $684 million from Quebec and $454 million from the federal government, many households will be able to receive additional financial assistance to meet their housing needs.”
The decision to supplement the SAP with new investments from Quebec, combined with federal funds from the Canada Housing Benefit, stemmed from the Canada-Quebec Housing Agreement signed in October 2020, the CMHC said.
“By combining our efforts, we are able to do even more and facilitate access to adequate affordable housing for a greater number of Quebec households,” said Sonia Lebel, minister responsible for Canadian relations and the Canadian Francophonie. “The collaboration of our governments is proof of this. Together, we will maintain and contribute to the development of a quality housing offer.”
