Ottawa invests $31 million for affordable housing in Quebec City
The federal government announced an investment of $31 million on Monday, for the construction of affordable housing for students at Laval University in the Quebec City region.
The funding, which comes from the National Housing Co-investment Fund (FNCIL), will allow for the development of 204 affordable units 'in perpetuity' located near the University.
An organization dedicated to student housing (UTILE), will lead the project which will be designed "to meet ambitious environmental targets."
UTILE hopes the project will address the lack of quality affordable housing in the area - a growing need for young adults and students in particular.
"The construction of the 200 affordable housing units will reduce pressure on the rental market in the neighbourhoods surrounding Laval University," said Laurent Levesque, executive director of UTILE, in a press release.
The Minister of Housing, Diversity and Inclusion, Ahmed Hussen, added that it’s important to support "our youth in order to help them establish winning conditions for their social and economic success.”
Hussen was joined by Federal Health Minister and Quebec City MP Jean-Yves Duclos, the Parliamentary Secretary to the Minister of Housing, Diversity and Inclusion Soraya Martinez Ferrada and city councillor Marie-Pierre Boucher as they announced the housing investment.
"Access to affordable, quality housing is one of the keys to socio-economic success for students. It provides peace of mind and financial security that allows students to focus on their education," said Martinez Ferrada.
FNCIL has a 10-year budget of $13.2 billion. The 2022 budget anticipates extending $2.9 billion in funding to accelerate the creation of up to 4,300 units and the repair of 17,800 units.
- This report by The Canadian Press was first published in French on Aug. 22, 2022
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