Determined to house more Montrealers more quickly, the City of Montreal and the Société d'habitation et de développement de Montréal (SHDM) have signed an agreement that will enable the development of 1,000 non-market housing units over the next 3 years, 300 of which will be reserved for people at risk of or experiencing homelessness.
As it did with UTILE for the development of 670 student housing units, the city has adopted a portfolio approach with SHDM for the construction or acquisition of these 1,000 units.
This portfolio-type partnership, advocated by Chantier Montréal abordable, marks a major shift in the support offered to NPOs building, purchasing or renovating units dedicated to long-term affordability in Montreal. Rather than supporting piecemeal opportunities that take time and significant effort on the part of NPOs, the Ville de Montréal is giving them a greater capacity to seize as many rapid development opportunities as possible.
The total investment by the City of Montreal will be specified in the coming months. An initial sum of $5 million has been confirmed as early as this year for the start-up phase of development projects for these new units. The City is also committed to disposing of some of the land it has acquired under the right of pre-emption, private acquisitions, the Inclusion Strategy and the Règlement pour une métropole mixte.
“To house more Montrealers, we need to build more and protect more existing units from speculation. The SHDM, which is the real estate arm of the Ville de Montréal, is an essential partner in our fight against the housing shortage and affordability crisis. From the outset, this portfolio agreement gives the SHDM substantial resources to seize as many opportunities as possible and develop more speculation-free housing, faster. The SHDM will have more money, more land and more autonomy to develop more off-market units faster. Our administration is constantly pushing the limits of its powers to deal with the housing crisis, and we will continue to innovate to house more Montrealers,” said Montreal Mayor Valérie Plante.
“To reach our target of 20% off-market housing in Montreal by 2050, we're thinking outside the box to find different ways of supporting those who create housing. The portfolio approach we've adopted with UTILE and SHDM is a novelty, and we know it meets developers' need for predictability. Already, the two agreements we have signed will enable the development of 1,670 off-market units. That's a big deal! And it's just the beginning,” said Benoit Dorais, vice-chairman of the executive committee and responsible for housing, real estate strategy, property assessment and legal affairs.
“With this agreement, the SHDM confirms its strategic role as the City of Montreal's real estate arm to create more affordable housing. The three-year global approach will enable us to be more agile, especially financially, by creating a favorable environment to maximize our investments based on projects and opportunities. Whether we're acquiring buildings, redeveloping buildings or building new housing units, all our real estate development expertise will be optimized,” added SHDM General Manager Sophie Rousseau-Loiselle.
Loger + is a series of robust measures to enable the city to house more Montrealers, with a focus on building new units and protecting existing affordable units. Improving administrative processes, enhancing support for NPOs to accelerate social and affordable housing and increasing densities are at the heart of the means used by the Ville de Montréal to respond to the housing crisis. These measures will provide concrete, tailored responses to the recommendations of the Chantier Montréal abordable, set up by the City of Montreal to bring together the driving forces in housing, from both the private and community sectors.
About SHDM
A non-profit, paramunicipal organization, the SHDM contributes to the social and economic development of the City of Montreal through the development, management and enhancement of real estate assets of a residential, institutional and cultural nature. As a mandatary of the Ville de Montréal, the SHDM contributes to the maintenance and creation of affordable and sustainable living environments, through the responsible management of its real estate portfolio of over 5,000 units.
