The federal government announced on Monday an investment of $31 million for the construction of affordable housing for students at Laval University, in the Quebec region.
The funding, which comes from the National Housing Co-Investment Fund (FNCIL), will enable the development of 204 “perpetually” affordable housing units located near the University.
An organization dedicated to student housing (UTILE), will lead the project which will be designed “to meet ambitious environmental objectives”.
UTILE hopes the project will address the lack of quality affordable housing in the area – a growing need for young adults and students in particular.
“The construction of the 200 affordable housing units will reduce the pressure on the rental market in the neighborhoods surrounding Laval University,” said Laurent Levesque, general manager of UTILE, in a press release.
The Minister of Housing, Diversity and Inclusion, Ahmed Hussen, added that it is important to support “our young people in order to help them put in place the winning conditions for their social and economic success”.
Hussen was accompanied by Federal Minister of Health and Member of Parliament for Quebec Jean-Yves Duclos, Parliamentary Secretary to the Minister of Housing, Diversity and Inclusion Soraya Martinez Ferrada and City Councilor Marie-Pierre Boucher during the the announcement of the investment in housing.
“Access to affordable, quality housing is one of the keys to students’ socio-economic success. It provides peace of mind and financial security that allows students to focus on their studies,” said Martinez Ferrada.
The FNCIL has a budget of 13.2 billion dollars over 10 years. Budget 2022 provides $2.9 billion in funding to accelerate the creation of up to 4,300 homes and the repair of 17,800 homes.
– This report from The Canadian Press was first published in French on August 22, 2022