Desjardins Affordable Housing Initiative

More than 280 new social and affordable housing units for Québec

QUÉBEC, Nov. 13, 2025 /CNW/ - The governments of Quebec and Canada, the City of Québec, Desjardins, UTILE and La Bouée today marked the progress made on two social and affordable housing projects in Québec. UTILE Saint-Sacrement, a 235-unit student housing building, on which construction has just started, and Habitations Landry, a 48-unit building for families and individuals, which will welcome its first tenants in winter 2026.

Caroline Proulx, Quebec Minister Responsible for Housing and Minister Responsible for the Status of Women; Steeve Lavoie, Member of Parliament for Beauport–Limoilou; Jean-François Simard, Quebec Minister of Natural Resources and Forests and Minister Responsible for the Capitale-Nationale Region; Bruno Marchand, Mayor of Québec; Denis Dubois, President and CEO of Desjardins Group; Laurent Levesque, President and CEO of UTILE; and Robert Verret, Chair of the Board of Directors of La Bouée; made the announcement at the UTILE offices in Québec.

Results that exceed expectations

These projects, which are part of the Desjardins Affordable Housing Initiative, are part of an already extensive roadmap that shows how much the partnership between the Government of Quebec and Desjardins is paying off.

This journey began in 2022 with a first agreement committing Desjardins to delivering 1,250 units of affordable housing in three years. Today, we can confirm that this first stage of the initiative will have produced 2,469 units of affordable housing, nearly double the initial target. Already, 1,561 units are occupied and another 860 are under construction, accounting for 98% of the units produced in this stage. The final project, which accounts for the remaining 48 units, will be launched in the coming months.

In June, Desjardins was tasked with delivering another 1,000 units by 2028. Of this number, 532 units across 11 projects are already in the process of receiving authorization. There's every indication that the goal will be exceeded once again.

This performance has been based on a one-stop-shop model that:

• ensures rapid, centralized project management;
• simplifies the process for community developers and partners;
• centralizes sources of financing, including innovative resources such as patient capital and mortgage solutions;
• accelerates project delivery through a collaborative approach with local organizations.

UTILE Saint-Sacrement

UTILE Saint-Sacrement represents a total investment of more than $56 million, to which the Government of Quebec is contributing $15.9 million, and the City of Québec more than $2.3 million. The Government of Canada is contributing $2 million through the Affordable Housing Innovation Fund. Desjardins, for its part, is providing $4.3 million in patient capital and a mortgage loan that rounds out the financing package.

Students will benefit from several included utilities and amenities, including electricity and heating, a refrigerator, a stove, Internet access and an air exchanger. The building also includes a patio, elevators, a study room, a common room and indoor and outdoor bicycle parking.

Habitations Landry

Habitations Landry's financial package is around $18 million and includes investments of $8.2 million from the Government of Quebec and more than $3.4 million from the City of Québec. Desjardins is contributing more than $767,000 in patient capital in addition to a mortgage that ensures the project's financial viability.

La Bouée will eventually take on the management of the property, which will include 12 bachelor apartments, 24 one-bedroom apartments, and 12 two-bedroom apartments, providing a variety of units adapted to the needs of their tenants. One multipurpose room on the ground floor, an underground parking lot with 14 spaces, bicycle storage and outdoor green spaces will help improve quality of life while reducing heat islands.

Quotes:

"More than ever, our government is delivering social and affordable housing to all regions of Quebec. Thanks to new tools, such as partnerships with tax-advantaged funds, including those with Desjardins Group, the SHQ has an expanded toolbox for building more housing faster. It's an approach that has produced concrete results at remarkable speed, as shown by the two projects being celebrated today. Congratulations to all the partners, and long live these future buildings under the stewardship of UTILE and La Bouée!"

Caroline Proulx, Quebec Minister Responsible for Housing and Minister Responsible for the Status of Women

"Our government is committed to helping communities build their capacity to develop local solutions to housing challenges. These projects will provide more safe and affordable housing to Quebecers for generations to come. They're also another step toward building an economy that works for everyone." 

The Honourable Jean-Yves Duclos, Member of Parliament for Québec Centre

"I would like to highlight the commitment of Desjardins Group, whose contribution will play an important role in completing the projects announced today in the Capitale-Nationale Region. I would also like to thank UTILE and La Bouée, as well as the Action-Habitation technical resource group for their crucial involvement. Thanks to these partners, our government is reaffirming its commitment to facilitate access to quality, sustainable and affordable housing. Together, we are taking concrete action to improve the living conditions of citizens in the Capitale-Nationale Region." 

Jean-François Simard, Quebec Minister of Natural Resources and Forests and Minister Responsible for the Capitale-Nationale Region

"Our government is determined to provide housing solutions for the people of Québec and citizens across the country. Our support for UTILE is a concrete example of our commitment to this cause. I'm proud of our participation in these projects and the real difference they will make for students in this community." 

Steeve Lavoie, Member of Parliament for Beauport–Limoilou

"The City of Québec can count on the collaboration of ambitious and dedicated community developers such as UTILE and La Bouée. This is a tremendous asset as we work to quickly increase the number of available units and restore balance in the rental market. Over the past two years, the City has exceeded its goal of building more than 500 new social and affordable housing units per year. We need to keep up the pace if we want to overcome this crisis — and it's through financial partnerships like these that we'll get there." 

Bruno Marchand, Mayor of Québec

"The results achieved over the course of this initiative are a great source of pride for the Desjardins Group. We doubled the initial commitment made in 2022, and 98% of the planned units are already occupied or under construction. Families, individuals and people with special needs are enjoying the very real benefits of this partnership. Access to housing is a priority, and that's why we have the ambition to innovate to do even more, here in Quebec and elsewhere in Canada." 

Denis Dubois, President and CEO of the Desjardins Group

"Thanks to the support from our partners, which has made this project possible, no fewer than 340 students will have an affordable home that will allow them to concentrate fully on their studies. UTILE applauds the use of innovative and agile measures like the Desjardins Affordable Housing Initiative, which help make the large-scale development of non-for-profit housing possible in Quebec."

Laurent Levesque, President and CEO of UTILE

"La Bouée is very proud to have built Habitations Landry. Made possible through the involvement of agile and engaged partners, this project allows us to provide Québec families with a high-quality, inclusive and sustainable living environment. As a community organization, we are committed to supporting tenants and actively contributing to the vitality of neighbourhoods. We're proud to offer a concrete solution to the housing crisis and hope that the relationship between the partners continues to meet the needs of today and tomorrow." 

Robert Verret, Chair of the Board of Directors of La Bouée

Highlights:

Habitations Landry and La Bouée

• La Bouée is a non-profit purchasing company. Its main mission is to preserve and develop community housing and to participate in the researching and development of innovations.
• Up to 36 of the 48 households could potentially benefit from the Société d'habitation du Québec's (SHQ) Rent Supplement Program, ensuring that they spend no more than 25% of their income on rent. This additional assistance is covered by the SHQ (90%) and the City of Québec (10%).

UTILE

• UTILE's mission is to design, build and responsibly manage sustainable housing that is adapted to the needs of Quebec's student population. This social economy enterprise works to make housing a catalyst for success, a space where generations of students can reach their full potential.
• UTILE Saint-Sacrement is the second UTILE project in Québec. Its 235 apartments will be added to UTILE's existing stock of 205 apartments at its Cité-Universitaire project (formerly known as "l'Ardoise"). UTILE projects are already home to 900 tenants across 752 apartments in Montréal, Québec, Trois-Rivières and Rimouski. UTILE aims to start 600 to 800 units per year across the province.

About the Société d'habitation du Québec

The SHQ works to meet the housing needs of Quebecers, including by increasing housing supply throughout the province for people with low or moderate incomes and for those with special needs. It supports its partners in the fields of construction and renovation, property management and home adaptation. It also provides direct financial assistance to low-income households so that they can pay their rent.

To find out more about its activities, visit www.habitation.gouv.qc.ca/english.html.

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About Canada Mortgage and Housing Corporation

Visit canada.ca/housing for the most requested Government of Canada housing information. 

CMHC plays a critical role as a national facilitator to promote stability and sustainability in Canada's housing finance system. Its mortgage insurance products support access to homeownership and the creation and maintenance of rental supply. In addition, CMHC actively supports the Government of Canada in delivering on its commitment to make housing more affordable. CMHC research and data help inform housing policy. By facilitating co-operation between all levels of government, private and non-profit sectors, it contributes to advancing housing affordability, equity and climate compatibility. Follow us on X, YouTube, LinkedIn, Facebook and Instagram.

About Desjardins Group

Desjardins Group is the largest financial co-operative in North America and the sixth in the world, with assets of $501.3 billion as of June 30, 2025. Desjardins was named one of Canada's Best Employers by Forbes Magazine, as well as Mediacorp, and was recognized as one of the best financial institutions in the world in 2025 by Forbes. It draws on the skills of more than 57,200 employees. To meet the diverse needs of its members and clients, individuals and businesses, it offers a full range of products and services through its extensive network of service points, virtual platforms and subsidiaries across Canada. Rated one of the strongest banking institutions in the world by The Banker magazine, Desjardins has some of the best capital ratios and credit ratings in the industry. This year, 2025, is Desjardins Group's 125th anniversary, marking more than a century of ambition, presence and expertise at the service of members and clients.

SOURCE Canada Mortgage and Housing Corporation (CMHC)