Ottawa contributing $257 million through Apartment Construction Loan Program
The federal Liberal government announced last Monday that it is investing more than $257 million to pay for 781 rental units in Laval and Terrebonne on the North Shore through the Apartment Construction Loan Program (ACLP).
The announcement was made by Vimy Liberal MP Annie Koutrakis, Parliamentary Secretary to the Minister Responsible for the Economic Development Agency of Canada Quebec Region.
The EXAL De la Concorde project in Laval will a 268-unit residential complex developed and built by Construgep, in partnership with Groupe MACH and Sarees Investments. The federal Liberal government is contributing $90 million to the project through low-interest loans.
LEED status sought
Situated on Léo-Lacombe Avenue in the heart of Laval, the complex is in a strategic location close to the De la Concorde intermodal transportation station and the Route verte network of cycling trails. The project is aiming for LEED certification, which will guarantee high energy performance and sustainable development standards.
With a design based on sustainability and well-being, EXAL De la Concorde will integrate a number of green initiatives, including electric car-sharing and electric bike-sharing services for residents, urban agriculture on the roof, a bike repair shop and electrical charging stations. In addition, investments have been announced for two other large-scale housing projects, Central Parc Laval and WE Terrebonne.
Central Parc project
Located at 3385 Le Carrefour Blvd. in Laval, Central Parc Laval will be a 960-unit project, with phases 4 and 5 funded by the federal government with a total of $132 million in low-interest loans. Central Parc will offer a complete living environment with numerous amenities, including a bike repair station, electric car charging, an outdoor play area, an outdoor pool and a gym.
“The government of Canada has committed to working with communities to meet the challenge of building more housing in Laval and across Quebec,” said Koutrakis. “Through the Apartment Construction Loan Program, our government is increasing the supply of new rental housing by investing over $257 million in the construction of 781 housing units. These units will benefit middle-class individuals and families and will have a positive effect on our economy.”
A rapidly evolving market
“The development of Phases 4 and 5 of Central Parc Laval reflects our ambition to offer modern rental housing tailored to the realities of a rapidly evolving market,” said Steven Bastien, director of property management for the Central Parc Laval project.
He said two new phases will introduce 419 additional residential units and a state-of-the-art shared amenity space, designed to enhance well-being and foster a sense of community.
“In a market where rental demand remains high and vacancy rates are historically low, this investment is a concrete response to the needs of Laval’s residents,” added Bastien.
“With the support of the federal government and funding from CMHC, we have been able to accelerate the realization of this ambitious project, which will contribute to Laval’s urban development and continued growth by providing thoughtfully designed living spaces built for the future.”
10-year-long planning
The federal government’s National Housing Strategy (NHS) is a $115-plus billion plan, spanning over 10 years. Progress on programs and initiatives is updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website.
As of September 2024, the federal government had committed $57.57 billion to support the construction of more than 156,000 housing units and the repair of an additional 297,000.
The measures, according to the government, prioritize those in greatest need, including seniors, Indigenous people, people experiencing or at risk of homelessness, and women and children fleeing violence.
