Transformative Housing Initiative in Bridge-Bonaventure District
Innovative Housing Development in Bridge-Bonaventure District
The government entities and local organizations are excited to unveil a transformative housing project in the Bridge-Bonaventure district. This collaboration includes key partners like Broccolini and Bâtir son quartier, aimed at revitalizing local communities by providing affordable housing opportunities.
Project Overview and Objectives
The new residential rental complex promises to address the pressing need for affordable housing in urban areas. By utilizing a creative funding model, the project aims to deliver a balanced mix of both market-rate and non-market housing. The proposed complex is structured in two phases, where half of the units will cater to non-market housing to support families in need.
Phase 1: Affordable Housing Commitment
The first phase of the project, slated to commence construction in the summer, will bring 376 non-market housing units to the community. This 20-storey high-rise is strategically positioned at the crossroads of local streets, forming a vital part of the neighborhood's infrastructure. The design reflects a commitment to meeting the needs of current and future residents by including essential amenities and green spaces.
Financial Backing and Economic Impact
The estimated budget for this essential housing project amounts to around $130 million, tapping into innovative funding strategies. Collaborative efforts between federal and provincial governments under the Housing Accelerator Fund significantly optimize resources, enabling the development of 20% to 25% more housing units from the same financial investments.
Funding Contributions
- Government of Canada: $11.6 million
- Government of Quebec: $25.3 million
- City of Montréal: $12.06 million
This financial model not only sustains the housing project but also ensures long-term economic viability and social stability for residents.
Technical Specifications of the Project
Upon completion, the new residential complex will include a gross floor area of approximately 314,360 square feet, featuring various unit types, including bachelor and multi-bedroom apartments. This diversification caters to the varying needs of families and individuals in the community. The project is set for completion by late 2028, marking a significant milestone in urban housing initiatives.
Statements from Project Stakeholders
Various leaders are optimistic about this project. "Our collective efforts are vital in delivering housing support to those who need it most," stated a key government representative involved in the initiative. The project highlights cooperation at all levels, aiming to accommodate diverse community needs.
As Valérie Plante, the Mayor, emphasized, this endeavor aligns perfectly with the city’s ambitions to create a vibrant, affordable, and environmentally sustainable neighborhood, ultimately paving the way for a future of accessible living.
About the Participating Organizations
Broccolini stands out as a prominent figure in real estate, leveraging over 75 years of expertise in providing integrated solutions across various sectors. Collaborating with community-focused organizations like Bâtir son quartier, the project reflects a blend of innovative urban development strategies.
Point Commun, a pivotal partner in this initiative, maintains a strong focus on the sustainability and affordability of housing, ensuring that community-oriented values guide every step of the development process.
Frequently Asked Questions
What is the purpose of the Bridge-Bonaventure housing project?
The project aims to provide affordable housing to support local families and individuals, addressing the housing crisis in the area.
Who are the key partners in this initiative?
Key partners include the Government of Canada, the Government of Quebec, the City of Montréal, Broccolini, Bâtir son quartier, and Point Commun.
What is the anticipated timeline for the project?
Construction is expected to begin in the summer and be completed by late 2028.
How many units will be included in the project?
The first phase will deliver 376 non-market housing units designed to suit diverse family needs.
How is the project funded?
The project is financed through a combination of government grants and innovative funding mechanisms under the Housing Accelerator Fund.
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