- What The federal government’s investment is through the Apartment Construction Loan Program
- Why It will help fund the first phase of Le Louis-Alexandre residential project
- What next The housing is aimed at middle-class individuals and families
The federal government has committed more than $64m to help fund the construction of 170 affordable purpose-built rental units in Longueuil, across the St. Lawrence River from Montreal.
The apartments comprise the first phase of a residential development dubbed Le Louis-Alexandre. The project, on René Street, is close to amenities and public transit routes. The housing is aimed at middle-class individuals and families.
The funding is being provided as fully repayable, low-interest loans through the Apartment Construction Loan Program. Through the program, the federal government aims to support the construction of more than 131,000 rental units by 2031–2032.