With the help of Fonds immobilier de solidarité FTQ and several other partners
Magog, December 14, 2020 – The Fonds immobilier de solidarité FTQ is renewing its partnership with Han-Logement, a non-profit organization (NPO) dedicated to improving the lives of individuals with a physical and/or intellectual disability living in unsuitable housing by offering affordable, quality housing adapted to their needs. Thanks to this partnership, 400 affordable housing units—50 8-unit buildings—will be built in 40 to 50 municipalities in 5 Québec regions by 2026. The first units will be built in the Estrie, Montérégie, Centre-du-Québec, Mauricie and Beauce regions.
Various partners are contributing to this nearly $80 million project, including the participating municipalities, which are donating land, private donors, Desjardins Entreprises and Caisse d’économie solidaire Desjardins.
Project overview:
- Construction of 50 8-unit quality apartment buildings to meet the needs of persons with a physical or intellectual disability, or living with autism spectrum disorder (ASD);
- The 400 one- and two-bedroom units will be built in 40 to 50 municipalities in 5 Québec regions: Estrie, Montérégie, Centre-du-Québec, Mauricie and Beauce;
- Of the 50 buildings, 4 projects are planned for 2021, in Magog, Sherbrooke, East-Angus and Cowansville;
- Tenants will obtain a subsidy under Société d’habitation du Québec’s Rent Supplement Program.
Innovative funding model:
- A city, municipality or company will donate land;
- Private donors will make a donation to Han-Logement (a charitable organization);
- The private donations may be spread out over a period of up to 5 years;
- The Fonds immobilier de solidarité FTQ will increase to $11.7 million the funds available in an investment fund that grants patient capital loans, payable over 15 years;
- Desjardins Entreprises and Caisse d’économie solidaire Desjardins will finance the conventional construction loans.
Quotes
“We have an innovative, economically viable and self-funding business model because the rental income will cover 100% of the operating costs. Our proposed social housing concept takes into account the current social distancing challenges by offering 8-unit buildings on one floor and without common areas. The 2021-2026 development plan announced today with the Fonds immobilier de solidarité FTQ and our other partners has two phases. The first, from 2020 to 2023, will see 160 units built in two new development areas in Montérégie (Saint-Hyacinthe and Granby) and Centre-du-Québec (Drummondville and Victoriaville regions). These units will be built within 50 kilometres of the city centre. In the second phase, from 2024 to 2026, we will build 240 units in the other two regions, Mauricie (Trois-Rivières region) and Beauce (Saint-Georges and Thetford Mines regions). As we’ve always done, we want our work to help one city and one person at a time.”
Paul Champagne,
Managing Director, NPO Han-Logement
“Since 2017, our commitment to Han-Logement has made it possible to build about 70 units, mainly in Estrie. I’m glad I encouraged Mr. Champagne to apply his organization’s model in other Québec regions, where the needs are just as pressing and where the services for this type of clientele are well established. Today, I’m pleased to announce that we’re increasing the funds available to expand this business model to $11.7 million. This will allow us to solidify our role in the social and affordable housing sector with a partner that has clearly demonstrated its ability to develop quality buildings.”
Normand Bélanger,
President and CEO, Fonds immobilier de solidarité FTQ
“The approach developed by Han-Logement is innovative and meets real needs in our communities. “I’m pleased to see these projects, which are adapted to the regions, come to life”
Jacques Demers,
Mayor, Sainte-Catherine-de-Hatley, Prefect of the Memphremagog RCM and
President of the Fédération québécoise des municipalités
About Han-Logement
Founded in 2002, Han-Logement is a Magog-based non-profit organization dedicated to improving the lives of individuals with a physical and/or intellectual disability or ASD living in unsuitable housing by offering affordable, quality housing adapted to their needs. The organization has 16 buildings with a total of 106 units in Estrie. Cities interested in such a project are invited to visit www.hanlogement.org
About the Fonds immobilier de solidarité FTQ
Created in 1991, the Fonds immobilier de solidarité FTQ promotes economic growth and employment in Québec by strategically investing in profitable and socially responsible real estate projects in partnership with other industry leaders. The Fonds immobilier backs residential, office, commercial, institutional and industrial projects of all sizes across Québec. The Fonds immobilier backs residential, office, commercial, institutional and industrial projects of all sizes across Québec. As at May 31, 2020, the Fonds immobilier had 58 projects worth $3.7 billion in progress, 80 properties under management, 1.3 million square feet of land for development and $115 million allocated to affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council — Québec division. www.fondsimmobilierftq.com