Ottawa Investing $67.8M To Build 226 Residential Units In LaSalle

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The impressive Celeste Project in LaSalle, Quebec. Pic: CMHC

LaSalle, Québec: Ottawa is making a substantial investment of nearly $67.8 million to help construct 226 residential units in LaSalle, Québec.

Celeste, an impressive project including two five-storey residential buildings, is receiving a low-cost loan through the Government of Canada’s Rental Construction Financing initiative (RCFi).

The RCFi is a National Housing Strategy program delivered by CMHC that supports rental housing construction projects.

This project, which was announced recently by Ahmed Hussen, Minister of Families, Children and Social Development and the Minister responsible for Canada Mortgage and Housing Corporation (CMHC) together with David Lametti, Minister of Justice and Attorney General of Canada and Member of Parliament for LaSalle – Émard – Verdun, will provide new housing options close to public transit, schools and services for families in LaSalle.

Hussen said: “Our Government is committed to ensuring that the housing needs of residents here in LaSalle and across the country are met. We recognize the importance of increasing the supply of rental units throughout Canada and we are committed to working to that end to strengthen communities and ensure everyone benefits.”

David Lametti said: “I Centrally located, Celeste will help enrich an already thriving community. Every Canadian deserves a safe and affordable place to call home and the National Housing Strategy, through investments like this one, keeps bringing us closer to achieving that goal.”

Joe Levine, President, Dubelle Developments Ltd, added:“My partners and I are pleased to participate in this program, providing rental housing to Lasallois. We are equally proud that our project was chosen. Finally, a government initiative with foresight as to the real needs of Canadians. Being a builder and developer since 1976, I have always been frustrated that the incentive to build rental apartments was lacking. This new innovative financing program now allows us to build new rental housing on a national scale and we are proud participants.”

•The Government of Canada acknowledges that Celeste is located on the traditional and unceded territory of the Kanienʼkeháka (Mohawk).

• 166 out of the 226 units will have rents well below 30% of median household income in the area, and at least 57 of these units will be held at affordable rent levels for a minimum of 21 years.

 

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