Montreal unveils new housing plan to help low-income earners

Montreal unveils new housing plan to help low-income earners
Montreal Mayor Valérie Plante is hoping her proposed social housing bylaw will be a game changer for low-income earners.

“We’re really confident that this bylaw is actually going to create more affordable and social and family units,” Plante said at a press conference on Wednesday.

Plante unveiled an ambitious plan that puts the onus on real estate developers to include social or affordable housing in all new multi-unit construction starts.

Promoters will be required to reserve 20 per cent of all new units for social housing — which is government subsidized — or pay a in-lieu fee to the city. For each real estate project, 10 to 15 per cent will have to be affordable housing units for low-income earners or developers will have to make an equivalent financial contribution to the city.

Developers will also have to reserve five per cent of all units for family housing, which means units with three bedrooms or more. They can also offer land to Montreal for social housing construction.

“We’re going to create much more options for Montrealers,” Plante said.

Montreal’s business community is worried that the mayor’s plan to get more people into affordable housing could backfire.

Critics fear that the social housing requirements could jack up the price of new homes and drive potential buyers off the island. Developers could follow — especially as new transit projects such as the REM are being built.

“In 10 minutes you will be able to move from the south shore to downtown Montreal so we see the competition,” said André Boisclair, CEO of the Urban development institute of Québec.

City officials insist demand for downtown housing is strong and will remain so and the proposed bylaw will help low income earners.

“Affordability is super important,” said Craig Sauvé, a Montreal Executive Committee Member.
News Topics :
Similar Articles :
A Montreal based tenants’ rights group led a demonstration on Saturday at the Genesis Project community centre in the Cote des Neiges neighbourhood to protest a housing shortage, which it blames partly on...
Richard Martin, who lives in a subsidized housing complex, sits in front of the social housing offices Wednesday, May 29, 2019 in Montreal. Montreal is about to introduce a new...
MONTREAL As Toronto and Vancouver struggle to keep housing affordable for anyone but the wealthy, Montreal says its new, first on the continent development model will help it succeed where other big...
Top Stories
Faced with an almost constant drumbeat of anxiety from local residents about rent and real estate costs, Vancouver is moving ahead with affordable housing developments on four city owned sites even before...
For property developers, building affordable housing is typically a low margin proposition, especially amid rising construction costs, land prices and interest rates.   Rob Beintema / Metroland By Natalie Wong Bloomberg Wed., May...