MONTREAL—The federal government through the Canada Mortgage and Housing Corporation has announced a low-cost loan of $20 million to build La Rose des vents, a project of 123 housing units intended for students in Montreal.
The City of Montreal is also supporting the project with a contribution of $4.3 million. The developer is the Unite de travail pour l’implantation de logement etudiant (UTILE). The project’s two other financial partners are Quebec’s Chantier de l’economie sociale Trust and the Reseau d’investissement social du Quebec.
The six-storey building will be located in the Technopole Angus eco-district in the borough of Rosemont–La Petite-Patrie. The developers are aiming for LEED Platinum certification and the residence will be part of an energy loop with other buildings in the neighbourhood, explained a recent release.
The building is expected to post savings of 41.7 per cent in energy consumption and reduce greenhouse gas emissions by 56 per cent compared to the requirements of the National Energy Code of Canada for Buildings 2015. Thirty-seven units will be rented at a rate equivalent to 78 per cent of the median rent in the area.
The units will be rented out in priority to students living in economically precarious situations. All common areas in the building will be barrier-free, and 26 units will be accessible.
“Housing is a priority for our administration,” said Montreal Mayor Valerie Plante in a statement. “The upcoming completion of La Rose des vents…will not only meet a critical need for affordable housing in a central neighbourhood of the city, but it is also part of the green and inclusive recovery that is underway.”