Social factors

A socially responsible investor

Out of solidarity for and with a view to fostering social diversity and cohesion, the Fonds immobilier invests in social, community and affordable housing projects. In the process, it contributes to the well-being of low- and modest-income households.

To date, the Fonds immobilier has invested $337 million[1] in specialized funds managed by social economy enterprises, which use the funds to purchase land or property for projects awaiting funding. As a result of these investments, 8,292 quality dwellings[1] have been built or renovated, providing a diverse clientele that includes persons with reduced mobility, homeless youth reintegrating into the job market and young single mothers with quality, affordable housing in safe neighbourhoods.

Social, community and affordable housing funds

  • 1,000 new social or affordable housing units will be created through an innovative partnership

    MONTRÉAL, June 14, 2024 – The governments of Canada and Quebec, together with the Fonds de solidarité FTQ, have announced the construction of 1,000 new social or affordable housing units over the next three years. These housing units will be created as part of the Fonds de solidarité FTQ-Quebec agreement.

    The government funding for these 1,000 new units stems from the $900 million in federal funding provided to Quebec through the Canada-Quebec Agreement under the Housing Accelerator Fund (HAF) and the new $900 million in funding announced by Quebec in its fall 2023 economic update.

    The Honourable Soraya Martinez Ferrada, Minister of Tourism and Minister responsible for the Economic Development Agency of Canada for the Regions of Quebec; France-Élaine Duranceau, Quebec Minister Responsible for Housing; Benoit Dorais, Vice-Chair of the City of Montréal Executive Committee, responsible for housing, real estate strategy, property assessment and legal affairs; and Janie C. Béïque, President and Chief Executive Officer of the Fonds de solidarité FTQ are proud to make this announcement at the FTQ's head office.

    Toward the creation of 2,250 social or affordable housing units

    In 2022, the Government of Quebec entrusted $175 million to the Fonds de solidarité FTQ, an amount to which the Fonds de solidarité FTQ added another $75 million, for the establishment of a mechanism that would allow the funding of 1,000 social or affordable housing projects. The organizations behind these projects (non-profits, co-operatives, and offices d'habitation) committed to delivering the units over a three-year period and to ensuring their affordability for up to 35 years.

    The real estate arm of the Fonds de solidarité FTQ, which manages this agreement, quickly exceeded the objective. In view of this efficiency, and in response to market needs, Quebec added in December 2023 another $43.75 million to the initial amount, to build 250 additional affordable housing units.

    The construction of the 1,000 new units announced today is in addition to the Fonds de solidarité FTQ's roadmap, which now aims to create 2,250 social or affordable housing units by 2027. The projects will largely be new constructions, while a smaller share will be existing buildings acquired with the aim of renovating them and ensuring lasting rent affordability.

    The management of these agreements has been taken on by the team of the Fonds immobilier de solidarité FTQ. The team has implemented a rigorous governance process for the analysis of projects, which includes determining project development costs and diligent auditing until projects receive approval by decision-making authorities, thereby allowing the project-leading organizations to receive a government subsidy and a patient capital loan from the Fonds de solidarité FTQ.

    For information : fondsftq_quebec_logements@fondsimmobilierftq.com

  • The pooled $151 million will enable housing co-ops, NPOs and housing authorities to secure long-term financing to build or acquire and renovate 1,500 affordable housing units in Québec. Projects are developed by the Association des groupes de ressources techniques du Québec (AGRTQ).

    Fonds immobilier's participation: $31.5 million.

  • An investment fund currently financing the construction of 500 affordable, adapted units for individuals with a physical or intellectual disability.

    Fonds immobilier's participation: $11.7 million.

    WATCH THE PROJECT VIDEO (IN FRENCH ONLY)

  • Created by Phyllis Lambert, the FIM is a financial tool that enables non-profit organizations (NPOs) and housing co-ops to purchase properties for conversion into quality community housing.

    Fonds immobilier's total participation: $11.7 million.

  • An investment fund that provides loans to purchase land or buildings for community housing while awaiting funding from the Société d'habitation du Québec (SHQ) under the Accès Logis Québec program. Projects are overseen by the Groupe de ressources techniques (GRT) Bâtir son quartier.

    Fonds immobilier's total participation: $33.1 million.

  • The success of the FAM prompted other areas of Quebec to adopt the model to assist other member groups of the Association des groupes de ressources techniques du Québec.

    Fonds immobilier's total participation: $29.1 million.

  • Created in partnership with the Fiducie du Chantier de l'économie sociale, this fund provides funding to renovate community housing built in the 1980s with financing from the Canada Mortgage and Housing Corporation (CMHC).

    Fonds immobilier's participation: $21.0 million.

  • The Immosocial Québec fund provides cooperatives and NPOs with long-term loans for the acquisition or renovation of properties slated for community housing or workspace for community organizations and collective enterprises. The fund is administered by the Association des groupes de ressources techniques du Québec (AGRTQ).

    Fonds immobilier's participation: $10.0 million.

  • A project of NPO Gérer son quartier involving the acquisition of 726 units spread over 111 buildings in Montréal that will be renovated and converted into affordable housing.

    Fonds immobilier's participation: $9.5 million.

    WATCH THIS PROJECT VIDEO (IN FRENCH ONLY)

  • An investment fund whose goal is to finance the construction of affordably-priced student housing (300 apartments and 500 rooms). Construction is overseen by the not-for-profit Unité de travail pour l'implantation de logement étudiant (UTILE).

    Fonds immobilier's participation: $5.5 million.

    LISTEN TO OUR PODCAST ABOUT UTILE (IN FRENCH ONLY)

  • Bridge funding for the Centre à nous community and cultural services centre in Repentigny to enable the construction of a new pavilion to house community organizations.

    Fonds immobilier's participation: $5.0 million.

  • Bridge funding to renovate and expand the facilities of the NPO Institut Pacifique, which provides services to school communities and youth to prevent violence and psychosocial issues.

    Fonds immobilier's participation: $2.3 million.

  • Bridge funding for the acquisition of commercial space to house two daycare centres in Montréal's Griffintown neighbourhood.

    Fonds immobilier's participation;: $5.5 million.

  • Temporary financing for NPO S.I.L.A. related to TRG Nouvel Habitat in Lévisto renovate a housing complex of 84 affordable housing units.

    Fonds immobilier's participation: $1.9 million.

  • Acquisition and redevelopment of a building in Montréal to relocate the Centre d'intégration scolaire, a French-language school specializing in the social, affective and academic re-education of students in crisis.

    Fonds immobilier's total participation: $2.1 million.

  • An investment fund to enable the construction, acquisition or renovation of buildings for NPOs. The fund is administered by the Fiducie du Chantier de l'économie sociale.

    Fonds immobilier's total participation: $6.0 million.

  • Bridge financing for the acquisition of land and predevelopment work for the construction of 104 student housing units.

    Fonds immobilier's participation: $1.5 million.

    LISTEN TO OUR PODCAST ABOUT UTILE (IN FRENCH ONLY)

  • Loans for the NPO Action-Réinsertion to build 18 studio apartments and rooms for people experiencing homelessness. Action-Réinsertion receives support from the GRT Atelier Habitation Montréal.

    Fonds immobilier's participation: $1.0 million.

  • Bridge financing to allow the GRT Entraide Habitat Estrie to build a 16-unit housing co-op.

    Fonds immobilier's participation: $1.0 million.

  • Loan for a 204-unit student housing building developed by the NPO UTILE.

    Fonds immobilier's participation: $2.8 million.

    LISTEN TO OUR PODCAST ABOUT UTILE (IN FRENCH ONLY)

ESG commitments for responsible investments

Check out these episodes highlighting the social aspect of ESG factors.

Changing lives

Han-Logement is an organization that creates housing for people with physical or intellectual disabilities and those with autism spectrum disorders. Han-Logement is changing lives one home at a time by building adapted housing at affordable prices.

Video in French only

ESG: The social factor and Les Habitations Le Domaine

A project of NPO Gérer son quartier involving the acquisition of 726 units spread over 111 buildings in Montréal that will be renovated and converted into affordable housing.

Video in French with English subtitles

Bâtir un avenir durable avec les critères ESG : our French-language podcast

Listen to this podcast episode (in French only), produced in collaboration with Constructo, to learn more about how we integrate ESG factors into our real estate projects.

"Faire œuvre UTILE avec l'économie sociale"

Although the housing crisis has been the subject of much discussion for several years now, and affordable housing is in short supply, particularly for students, little progress seems to have been made in these areas. What if the UTILE business model could change all that?

Do you have a real estate project?[2]

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  • 1

    Resulting from authorized investments by the Fonds immobilier and loans from the Fonds de solidarité FTQ to projects under the Fonds capital pour TOIT fund.

    2

    Partnering with the Fonds immobilier for the purpose of carrying out real estate projects is conditional on compliance with its investment criteria and the authorization of its governing bodies.