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Today, the federal government announced more than $14.6 million to build 48 purpose-built rental homes for residents living in Trois-Rivières. The funding is provided as fully repayable low-interest loans through the Rental Construction Financing Initiative (RCFi).
Located at 1000 Av. des Draveurs, Le Luxo is a six-storey apartment building offering one-, or two-bedroom units. Units feature walk-in closets, bathrooms with a tub and separate shower, balconies, outdoor swimming pool, training room, car wash space, and 72 stalls of indoor and outdoor parking. Construction is expected to be completed by the end of November 2023.
Canada’s construction of rental homes has not kept pace with the country's growing cities and population, leading to a decline in the existing and aging rental stock for decades. To help address this issue, the Government of Canada introduced the RCFi to stimulate the construction of rental housing across the country. Increasing the overall supply of rental housing in the country is crucial to creating stronger and more vibrant communities that Canadians can feel proud to call home. The Government of Canada recognizes that purpose-built rental housing is an important component of the housing market, and increased supply of rental homes is needed to meet the growing demand for rental housing.
Quotes:
“We need to boost housing supply, this is why we are making strategic investments, through programs like the Rental Construction Financing Initiative, to build much-needed rental units across the country. All Canadians deserve a safe place to build and live their lives in, and we will ensure this becomes a reality.”
“The Government of Canada is committed to working with all communities to meet the challenge of building more rental housing in Trois-Rivièrs and across the country. Through RCFi, our government is increasing the supply of new rental housing by investing over $14.6 million in the construction of a total of 48 units. These accessible, energy-efficient homes will benefit middle-class individuals and families and stimulate the local economy.”
Quick facts:
- The Rental Construction Financing Initiative (RCFi) provides fully repayable low-interest loans to encourage the construction of more purpose-built rental housing for middle income Canadians. It creates a positive impact to the housing system at minimal cost to taxpayers.
- RCFi is one of many programs and initiatives under the National Housing Strategy designed to help address housing needs across the housing continuum.
- RCFi complements other NHS initiatives that focus on funding affordable housing units for lower-income households.
- Through RCFi, the federal government is encouraging the construction of more than 71,000 rental units.
- A stable supply of purpose-built rental housing is essential for more people in Canada to have access to housing that meets their needs.
Additional information:
Visit Canada.ca/housing for the most requested Government of Canada housing information.
CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that everyone in Canada has a home they can afford and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
To find out more about the National Housing Strategy, visit: www.placetocallhome.ca.
Check out the National Housing Strategy Housing Funding Initiatives Map to see affordable housing projects that have been developed across Canada.
Information on this news release:
Micaal Ahmed
Office of the Minister of Housing, Infrastructure and Communities
micaal.ahmed@infc.gc.ca
Media Relations
Canada Mortgage and Housing Corporation
media@cmhc-schl.gc.ca
