A partnership between the Fonds immobilier de solidarité FTQ and Han-Logement
Sherbrooke, March 5, 2018 – Han-Logement, a non-profit organization (NPO), and the Fonds immobilier de solidarité FTQ are pleased to announce the start of construction on two six-unit buildings adapted for the disabled, on Lavigerie Street in Sherbrooke. The two properties are part of a major project – announced in December – for the construction of 100 new affordable housing units for people with reduced mobility in Estrie.
The ground-breaking ceremony took place today in the presence of Han-Logement General Manager Paul Champagne, Fonds immobilier de solidarité FTQ President and CEO Normand Bélanger, Saint-François MNA Guy Hardy, Acting Mayor of Sherbrooke Marc Denault, and the project’s major private donor, Michel Lapierre.
Quotes
“On September 1, 2018, this real estate project will provide housing for 12 disabled people. We’re pleased to continue our mission to help people with physical or intellectual disabilities who don’t always have access to adapted housing. We’ve made every effort to ensure that the units are optimally built and meet the needs of this clientele. We commend the generosity and determination of our private donors, who share our motivating force, not to mention the contribution of the City of Sherbrooke, which donated the land, and the SHQ with its Rent Supplement program, which allows tenants to pay a reduced rent.”
Paul Champagne, General Manager of Han-Logement
“We’re proud to be involved in this project, which will have a real impact on the independence of residents looking for a better quality of life. And we’re even more proud to be part of a group of good-hearted people from Desjardins Entreprise, Investissement Québec, the City of Sherbrooke, SHQ and Han-Logement, not to mention the major private donor, Mr. Lapierre. This just proves that the whole is greater than the sum of its parts. As the leading real estate organization in Québec, we’ve been supporting social economy initiatives for more than 20 years. To date, we have invested $69 million in social, community and affordable housing across Québec, resulting in the construction or renovation of 3,546 housing units.”
Normand Bélanger, President and Chief Executive Officer of the Fonds immobilier de solidarité FTQ
Han-Logement on Lavigerie Street in Sherbrooke
- Two buildings, each with six single-storey units;
- 1-bedroom units (3 ½);
- Units adapted to the needs of people with disabilities.
Commitment of the Fonds immobilier de solidarité FTQ and Han-Logement in the $15 million project
- Construction of 100 affordable, quality units adapted to the needs of physically and/or intellectually disabled people;
- The 100 units, mostly 3½s, will be spread out in single storey fourplexes;
- The target area is Estrie, mainly the cities of Magog, Sherbrooke, Granby, Cowansville and Drummondville.
Contribution of the Québec government
- Tenants can obtain a subsidy under the Rent Supplement program offered by the Société d’habitation du Québec, which will limit their rent to 25% of their income.
Model for building 100 new affordable housing units in Estrie
- A municipality donates land to Han-Logement;
- Private donors make a donation to Han-Logement. For each fourplex, Han-logement seeks to raise $80,000 in private donations;
- Investissement Québec guarantees the private donations, which may be spread over five years;
- The Fonds immobilier de solidarité FTQ injects $2.56 million in an investment fund that grants patient capital loans, payable over 15 years;
- Desjardins Group finances the conventional construction loan.
Projects completed under the partnership agreement between the Fonds immobilier de solidarité FTQ and Han-Logement:
Three of the twenty-five buildings planned have already been built:
- A fourplex at 30-36 Tupper Street, Magog;
- Two fourplexes at 250-256 and 258-264, Chénier Street, Magog.
About NPO Han-Logement
Founded in 2002, Han-Logemont is a non-profit organization 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. 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. At May 31, 2017, the Fonds immobilier had 49 projects in progress, 45 properties under management, 14 million square feet of land for development and $69 million allocated to affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council.
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Information:
Patrick McQuilken
Senior Advisor for Media Relations and Communications
Fonds de solidarité FTQ
Phone.: 514 850-4835 / Mobile: 514 703-5587
pmcquilken@fondsftq.com