Inauguration of L'Athéna Brings 30 Affordable Housing Units to Families in Granby

Granby, August 25, 2025

The Government of Québec, in partnership with the City of Granby, the Fonds immobilier de solidarité FTQ and Holocie Coop, proudly inaugurated L'Athéna today, a new affordable housing complex offering 30 units at 402 Principale Street, in the heart of Granby. With a total investment of $8.9 million, the project marks an important milestone for the Granby community by transforming the former Rialto building into a modern, affordable and inclusive living environment.

The project was made possible through a $3.4 million investment from the Government of Québec, as part of its partnership with the Fonds de solidarité FTQ to create 2,250 affordable housing units across the province. The financing package also includes $0.5 million in patient capital from the Fonds immobilier de solidarité FTQ, along with a $201,000 contribution from the City of Granby, which will also provide property tax exemptions for the next five years.

The inauguration was attended by François Bonnardel, Minister of Public Security and MNA for Granby; Julie Bourdon, Mayor of Granby; Josée Lagacé, Vice-President, Communications and Marketing of the Fonds immobilier de solidarité FTQ; as well as partners and residents of the building.

A transformative and human project

L'Athéna was designed to provide stable, accessible homes rooted in today's social reality, where solidarity and community life are central. The building includes 30 affordable units, an existing hair salon, a ground-floor commercial space, an underground garage, and 20 outdoor parking spaces.

Toward 2,250 social and affordable housing units

Through the innovative partnership between the Government of Québec and the Fonds de solidarité FTQ, 2,250 social and affordable housing units will be created by 2027. Most will be new construction, with some projects focused on acquiring and renovating existing buildings to ensure permanent affordability.

Quotes

"I've said it many times: we need to innovate to build more and to build faster, especially in the middle of a housing crisis. This collaboration with the Fonds de solidarité FTQ is helping us get important project like this one off the ground. It's proof once again that our government is taking real action, working closely with municipalities and housing organizations to better house Quebecers."

France-Élaine Duranceau, Minister Responsible for Housing

"With L'Athéna, families and residents of Granby now have access to affordable, quality housing. Projects like this don't just improve people's living conditions — they strengthen our community and respond directly to urgent housing needs. This is something we can all be proud of."

François Bonnardel, Minister of Public Security and MNA for Granby

"Everyone deserves a home that's stable, affordable and inclusive. L'Athéna is a great example of our efforts to make quality housing available outside the private market. I'm thrilled to see another project take shape right downtown, close to services people need, and made possible thanks to the commitment of our partners."

Julie Bourdon, Mayor of Granby

"This project, which came out of our agreement with the government, shows how effectively our teams can deliver new social and affordable housing. The residents of L'Athéna can be proud of this upgraded building because it gives them permanently affordable homes. I also want to recognize the energy and dedication of the Holocie Coop team in making it happen."

Martin Raymond, President and CEO, Fonds immobilier de solidarité FTQ

"Today we're not just cutting a ribbon — we're breathing new life into a place that already had a human purpose. By transforming this former seniors' residence into 30 affordable homes, we're giving families and individuals in Granby a stable, welcoming and inclusive place to live. At Holocie Coop, we believe every project should meet the real needs of the community, and we're proud to work with our partners to bring a concrete solution to the housing crisis here."

Jean-François Arsenault, President and CEO, Holocie Coop

About the Société d'habitation du Québec

As Québec's housing authority, the Société d'habitation du Québec (SHQ) is dedicated to meeting the housing needs of citizens through its expertise and services. It provides affordable and low-rent housing, as well as assistance programs that support residential construction and renovation, home adaptation and access to homeownership. To learn more about its activities, visit www.habitation.gouv.qc.ca.

About the Fonds immobilier de solidarité FTQ

The Fonds immobilier de solidarité FTQ drives economic growth and employment in Québec by strategically investing in profitable real estate projects in partnership with industry leaders. Its portfolio spans the residential, office, retail, institutional and industrial sectors, with a development approach guided by ESG (environmental, social, governance) principles to promote sustainable projects. As of June 30, 2025, it had 26 projects in development or under construction valued at $4.1 billion, 84 portfolio properties under management representing 6,412 rental housing units, and 5 million square feet of industrial land for development. The Fonds immobilier is a member of the Canada Green Building Council — Québec division.

About Holocie Coop

Holocie Coop is a solidarity cooperative that develops and manages affordable housing, operates an innovative urban farm and supports collective entrepreneurship. Its mission is to create sustainable, inclusive and human-centred living environments that respond to the real needs of communities.

In the photo, from left to right: François Bonnardel, Minister of Public Security and Member of the National Assembly for Granby; Julie Bourdon, Mayor of Granby; Jean-François Arsenault, President and CEO of Holocie Coop; and Josée Lagacé, Vice President of Communications and Marketing at the Fonds immobilier de solidarité FTQ.

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