Investment Boosts Rental Housing Development in Laval Area
Significant Investment for Housing Development
The Government of Canada has announced a substantial investment of over $257 million intended for the construction of 781 new rental units. This initiative is part of the Apartment Construction Loan Program (ACLP), which aims to address the ongoing housing demand in various regions.
Key Projects in Focus
Among these developments is the EXAL De la Concorde project, which comprises 268 residential units fostered through a collaboration between Construgep, Groupe MACH, and Sarees Investments. This particular project benefits from a $90 million injection by the government through low-interest loans.
Location and Accessibility
The EXAL De la Concorde is strategically positioned on Léo-Lacombe Avenue, granting residents convenient access to major transportation options, including the De la Concorde intermodal station and accessible cycling trails.
Sustainable Living Initiatives
This project is designed with sustainability in mind, pursuing LEED certification to meet high energy performance standards. It introduces several green initiatives that support residents' lifestyles, such as electric car-sharing, bike-sharing services, urban agriculture on roofs, and accessible bike repair stations.
Additional Housing Developments
In tandem with EXAL De la Concorde, the government has paved the way for two more large-scale housing projects: Central Parc Laval and WE Terrebonne.
Central Parc Laval Overview
Located at 3385 Le Carrefour Boulevard, the Central Parc Laval project aims to offer a total of 960 units. Phases 4 and 5 of this project have been funded with an impressive $132 million from the federal government. The amenities here are extensive, featuring outdoor play areas, a refreshing pool, and exercise facilities, creating a holistic living environment.
WE Terrebonne Details
At 840 Montée Masson, WE Terrebonne is another noteworthy project, consisting of 94 mixed-use residential and commercial units. Its design accounts for proximity to major roadways and public transport, securing over $34 million in government funding.
Combatting Housing Shortages
Canada's commitment to expanding rental housing options resonates with the current housing challenges many face. The government emphasizes that such projects are not solely about creating new units but invigorating community economies and providing essential housing for families and individuals.
Expert Insights and Quotes
The Honourable Nathaniel Erskine-Smith, Minister of Housing, Infrastructure and Communities, remarked on the government’s determination to enhance rental housing availability through investments, stating, “These investments help create jobs and stimulate the local economy.” Annie Koutrakis echoed these sentiments, showcasing the government’s commitment to addressing housing needs while impacting the economy positively.
Constructing High-Quality Living Solutions
Construgep's Founding President, Stéphane L'Espérance, highlighted the company's dedication to sustainable development in residential projects. With a keen eye toward energy efficiency and eco-responsibility, the company's efforts underscore a continuing initiative to meet the demands of modern living expectations.
Future Outlook and Housing Strategies
The National Housing Strategy (NHS) underpins various initiatives like the ACLP, which has a broad budget aiming to foster the construction of over 131,000 rental units by the early 2030s. This guarantees that rental developments align with the growing demand for affordable housing options across the country.
The Community Impact
These developments illustrate a forward-thinking approach to housing in Laval and surrounding areas, showcasing the dedication to not only provide structure but ensure these environments foster community, health, and sustainable living for all residents.
Frequently Asked Questions
What is the Apartment Construction Loan Program (ACLP)?
The ACLP is a Canadian government initiative providing low-interest loans to support the construction of rental housing aimed at middle-income families and individuals.
How many rental units are planned for construction?
A total of 781 rental units are slated for development in Laval and Terrebonne as part of this new initiative.
What is the significance of the EXAL De la Concorde project?
The EXAL De la Concorde project represents an investment commitment to sustainable living and community accessibility, incorporating various environmental initiatives.
Which companies are involved in these projects?
Key players in the housing projects include Construgep, Groupe MACH, and Sarees Investments, each contributing expertise in sustainable development.
What are the expected timelines for these projects?
While specific timelines can vary, ongoing investments indicate a priority for completion in alignment with community housing needs.
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