Government of Canada investing $50 million in rental housing in Laval

LAVAL, QC, March 7, 2025 /CNW/ – The Government of Canada is investing $50 million to build 149 rental units in Laval through the Apartment Construction Loan Program (ACLP).

The announcement was made by Angelo Iacono, Member of Parliament for Alfred-Pellan, at the Le Bleau project site located at 4420 Lévesque Boulevard East in Laval.

Le Bleau is a 149-unit development with distinctive architecture overlooking Rivière des Prairies. The Government of Canada is contributing $50 million in low-interest loans to the project. The project embraces sustainable development, harmonizing with the environment by incorporating indoor parking on three levels. This design maximizes outdoor space for quality landscaping and helps mitigate heat islands. A number of parking spaces with charging stations and car sharing service will be made available to residents. In addition, Le Bleau is near the rapid bus service.

Rental construction in Canada hasn’t kept pace with city and population growth. As a result, existing rental stock has been declining for decades and is aging. To address this issue, the federal government launched the ACLP to support rental housing construction across the country. Increasing the overall supply of rental housing is key to creating stronger, more vibrant communities where people can be proud to live.

Quotes:

“Through investments in rental housing, our government is providing assistance to those who need it most, here in Quebec and across the country. With our partners, we are providing a helping hand to individuals and families and, in doing so, are contributing to the economic and social well-being of the entire community.” – The Honourable Nathaniel Erskine-Smith, Minister of Housing, Infrastructure and Communities

“Our government is addressing the housing crisis by investing in rental property here in Laval, and across Canada. The realization of Le Bleau project through the ACLP is helping to create jobs, improve the quality of life of the people of Alfred-Pellan and contribute to the vitality of the Laval community.” – Angelo Iacono, Member of Parliament for Alfred-Pellan

“It’s with great pride and emotion that I see the realization of this residential project, which will contribute to the development of rental housing in Laval. Having grown up in this region and now raising my children here, this project represents much more than a simple construction project: it’s part of a deep commitment to the community where I grew up. Thanks to the support of the Apartment Construction Loan Program (ACLP), this project is aligned with our desire to meet the need for accessible, quality housing for families living in Laval and those wishing to settle here. This development is yet another cornerstone in the edifice of a growing city, ensuring a promising future for its residents.” – Matteo Fiorilli, President, Le Bleau Condos

Quick facts:

• The National Housing Strategy (NHS) is a $115-plus billion plan over more than 10 years that will give more Canadians a place to call home. Progress on programs and initiatives is updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. The Housing and Infrastructure Project Map shows the affordable housing projects developed so far.
  • As of December 2024, the federal government had committed $60.09 billion to support the construction of more than 156,000 housing units and the repair of more than an additional 298,000. The measures prioritize those in greatest need, including seniors, Indigenous people, people experiencing or at risk of homelessness, and women and children fleeing violence.
• The Apartment Construction Loan Program (ACLP) has a budget of $55 billion. It provides low-cost financing to support the construction of more than 131,000 rental units across Canada by 2031–2032.
  • The ACLP offers fully repayable, low-interest loans to help boost rental construction for middle-income Canadians. This program has a positive impact on the housing system at minimal cost to taxpayers.
  • A stable supply of purpose-built rental housing is essential to ensuring that more Canadians have access to housing that meets their needs.
  • As of December 2024, Canada Mortgage and Housing Corporation (CMHC) had committed $21.76 billion in loans through the ACLP to support the construction of more than 56,000 purpose-built rental units.
  • The ACLP is one of many NHS programs and initiatives designed to help meet needs across the housing continuum.
  • It complements other NHS initiatives that emphasize funding for affordable housing for low-income households.
  • The enhancements to the ACLP announced in Budget 2024 include extending the program from 2027–2028 to 2031–2032. These enhancements will allow applicants to obtain funding to create on-campus and off-campus student housing to support postsecondary institutions. It will also be possible to apply for funding to increase the supply of housing for independent seniors. There are no longer any minimum requirements regarding energy efficiency or accessibility. Applicants are, however, encouraged to make firmer commitments regarding the supply of rental housing and the achievement of desired social outcomes.

Additional information:

SOURCE Canada Mortgage and Housing Corporation (CMHC)

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