The City of Montreal put out another housing announcement on Tuesday (June 4) with the announcement of a potential $40 million investment in their real estate arm, the Société d’habitation et de développement de Montréal (SHDM), over the next three years. That starts with a $5 million investment up front.
The SHDM has the option of creating or converting affordable units, starting with 140 in Mercier–Hochelaga-Maisonneuve – where the agency is buying four apartment buildings and transforming them into affordable housing.
The announcement is the latest in the city’s new housing strategy, Loger +. That strategy aims for 20 per cent of the rental stock to be social and affordable housing by 2050.
