Quebec budget 2022-2023
Welcome news for Park-Extension and its ever present housing problem is the announcement that as part of the 2022-2023 budget, the Government of Quebec is investing more than half a billion dollars, or $634 million, for structuring housing measures.
In particular, the Government of Quebec is investing an additional $247 million in the AccèsLogis program to support housing projects under development that have seen their construction costs increase, among other things. A sum of $100 million is also being invested in the new Quebec Affordable Housing Program to provide even more affordable housing to Quebecers.
$30 million for housing projects in Montreal
Of the amounts provided for in Budget 2022-2023, $247 million will be used to complete the delivery of 3,500 social and affordable housing units to Quebecers in need, through the AccèsLogis program. Of this amount, $30 million will be used for housing projects in Montreal. This injection of additional money into this program brings the government’s effort to more than $977 million to ensure the realization of various social and affordable housing projects that were underfunded by previous governments.
Moreover, since 2018, 8,000 social and affordable housing units have been built or are under construction. In last November’s economic update, amounts were also set aside to fund 2,200 affordable housing units and, under the budget, more than 4,500 social and affordable housing units will have the necessary leverage to see the light of day. The Government of Quebec thus finances nearly 15,000 social and affordable housing units.
The Québec Affordable Housing Program
Launched on February 3, the Québec Affordable Housing Program, with an envelope of nearly $200 million to build 2,200 housing units, has already been increased by $100 million for the construction of more than 1,000 additional homes. The government announced that it wishes to ensure that a maximum number of eligible projects will obtain the necessary financing. Community organizations, private sector businesses, housing cooperatives and housing offices have until May 5, 2022 to submit a project under the current call for projects.
“I am very proud of the budget presented by my colleague, the Minister of Finance, Eric Girard. We are announcing more than half a billion structuring housing measures! Not only is our government respecting its commitment to finance the construction of 15,000 housing units, thanks to all our actions since 2018, but above all we are making sure to offer Quebecers even more social housing at affordable prices. » said Andrée Laforest, Minister of Municipal Affairs and Housing and Minister responsible for the Saguenay–Lac-Saint-Jean region