720 affordable housing units from Domaine La Rousselière acquired in Pointe-aux-Trembles

Corporation Mainbourg, with investments from the Quebec government, the City of Montreal and private investors have purchased 720 affordable housing units at the Domaine La Rousselière in Pointe-aux-Trembles, in Montreal’s East End.

The 40-year-old Domaine La Rousselière is a complex of eight buildings which provides affordable housing for a wide range of people, from seniors, to small families.

“Faced with the housing crisis, the City of Montreal is deploying unprecedented efforts to implement innovative solutions that will help preserve the city’s affordability. We are therefore proud to invest in the acquisition of Domaine La Rousselière, which will make it possible to protect 720 housing units in Montreal’s East End from speculation, a sector in full revitalization,” said Mayor of Montreal Valérie Plante, in a press release.

The $120 million transaction includes contributions from the Quebec government ($20 million), the City of Montreal ($15.8 million), Desjardins ($75 million financing guaranteed by APH Select), New Market Fund ($4.7 million) and the Fondation Chagnon ($5 million).

“Affordability, along with increased and rapid housing construction, is a key to meeting today’s housing needs. In the current context, we need bold and ambitious solutions to ensure an adequate supply that respects households’ ability to pay. I salute the initiative of Corporation Mainbourg and the contribution of the other partners in this project, which fulfills this mandate well,” said France-Elaine Duranceau, Quebec’s Minister responsible for Housing.

All Domaine La Rousselière employees will retain their jobs as a result of this transaction.

“Thanks to this major acquisition, we are proud to contribute to the long-term provision of over 700 affordable housing units to the population of Montreal’s East End in the current housing crisis. Our role is to protect these units from real estate speculation, to ensure that rents remain reasonable,” said François Claveau, General Manager of Corporation Mainbourg.