Investing in affordable housing in Québec
A $151 million partnership to invest in 1,500 housing units
Thousands of Quebecers will have a decent place to live
Bringing together socioeconomic players around projects that aim to increase the supply of affordable housing is a priority. Because we believe that even with a modest income, every person and every family has the right to a decent roof.
The partnership between the Fonds de solidarité FTQ, the governments of Canada and of Québec, Ivanhoé Cambridge and several other socioeconomic investors is an innovative response to the needs of organizations working to maintain and increase the supply of affordable housing in Québec.
To administer this partnership, we can count on the expertise of the Association des groupes de ressources techniques du Québec (AGRTQ). Starting in fall 2021, organizations wishing to obtain funding to help them carry out affordable housing projects will be invited to contact the AGRTQ.
Lavery Avocats advised and supported the partners of this project in drafting and setting up the legal structure and documentation necessary for the creation and start-up of the consortium. Lavery is delighted to have been able to put his expertise and his professional and financial resources at the service of this project, and thus to contribute to an important initiative for families and for the economic dynamism of Quebec.
Supportive, committed partners
The Fonds de solidarité FTQ is proud to have brought together governments and several socioeconomic investors around this initiative dedicated to affordable housing. Together, we are investing $151 million to build or to buy and renovate 1,500 affordable housing units.
At Fonds de solidarité FTQ, we have been supporting social and affordable housing for more than 20 years
In a show of solidarity and in an effort to foster social diversity and cohesion, the Fonds de solidarité FTQ has been investing in social and affordable housing projects for more than 20 years. In doing so, we contribute to the well-being of low- and modest-income households.
To date, the Fund has invested $ 116 million directly in buildings or through specialized funds. The management of these funds is entrusted to social economy enterprises which use them either to seize an opportunity to purchase land or a building while awaiting the financing necessary for the realization of a project, or to take advantage of patient capital. Regardless of the process, these investments always have the same objective: to build or to acquire and renovate buildings in order to maintain the supply of affordable housing in the residential market.
Thanks to these investments, more than 6,000 affordable, quality housing units have been built or renovated. Whether it is for people with reduced mobility, young people in a situation of reintegration into employment or young single mothers, our impact allows them to access affordable and quality housing and to live in a safe living environment while enjoying community services.
To learn more, visit fondsimmobilierftq.com
About the Fonds:
Created in 1983, the Fonds de solidarité FTQ is a development capital fund that calls upon the solidarity and savings of Quebecers to help fulfill its mission to contribute to Québec's economic growth by creating, maintain or protecting jobs through investments in small and medium-sized businesses in all spheres of activity.
Through its governance and codes of ethics, the Fonds is a socially responsible investor committed to sustainable economic development where people come first.
With net assets of $15.6 billion as at November 30, 2020, the Fonds de solidarité FTQ has become a hub of knowledge and resources for Québec businesses and a key player in the local economy.