Canadian Design and Construction Report staff writer
The governments of Canada and Quebec, along with Desjardins Group, have announced plans to build 1,000 new affordable housing units over the next three years. This effort is part of the Desjardins Affordable Housing Initiative, a partnership launched in 2022 that aims to deliver more than 3,000 affordable units across Quebec by 2028.
The new units will be funded with nearly $184 million. This includes federal contributions from the $900 million provided to Quebec through the Canada-Quebec Agreement under the Housing Accelerator Fund (HAF) and an additional $900 million announced by Quebec in its fall 2023 economic update. Desjardins will provide nearly $50 million in mortgage financing and patient capital to community developers.
“The partnership with Desjardins is delivering tangible results, and I am very proud of it. This proves that by working together—with the Canadian government, municipalities, and housing organizations—we can quickly provide affordable, high-quality housing for Quebecers who need it most,” said France-Élaine Duranceau, Quebec Minister Responsible for Housing.
The initiative supports housing cooperatives, community organizations, and municipalities by streamlining project identification and qualification through Desjardins’ network of caisses and business centers.
As of May 31, 2025, nine buildings containing 1,198 housing units were already occupied, with 908 more units under construction across 14 Quebec regions. The original goal of creating 1,000 units by the end of 2025 was surpassed, leading to a revised target of over 2,000 units. The latest agreement with the Canadian and Quebec governments will bring the total to over 3,000 units with affordability guaranteed for at least 35 years.
Jean Martel, president and CEO of the Société d’habitation du Québec, said the partnership strengthens efforts to provide affordable housing to families, seniors, and individuals throughout Quebec.
Guy Cormier, president and CEO of Desjardins Group, added, “The housing crisis requires strong, rapid, and coordinated responses. This renewed partnership shows that together, we can deliver large-scale, concrete results with real impact on people’s lives.”
