{"id":44247,"date":"2025-07-22T01:00:57","date_gmt":"2025-07-22T05:00:57","guid":{"rendered":"https:\/\/fgmtl.org\/?p=44247"},"modified":"2025-08-20T12:36:58","modified_gmt":"2025-08-20T16:36:58","slug":"launch-of-the-amplifier-fund-50-million-to-build-affordable-more-sustainable-housing-in-quebec","status":"publish","type":"post","link":"https:\/\/fgmtl.org\/copieprod\/en\/news\/press-releases-news\/launch-of-the-amplifier-fund-50-million-to-build-affordable-more-sustainable-housing-in-quebec\/","title":{"rendered":"Launch of the Amplifier fund: $50 million to build affordable, more sustainable housing in Quebec"},"content":{"rendered":"
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Montreal, July 22nd<\/sup>, 2025<\/strong>\u00a0\u2013 Desjardins Group, in collaboration with leading charitable organizations and the Soci\u00e9t\u00e9 d\u2019habitation du Qu\u00e9bec (SHQ), is launching the Amplifier fund, which will be allocating $50\u00a0million to accelerate the development of environmentally responsible affordable housing across Quebec. Housing projects will be targeted and supported by the Desjardins Affordable Housing Initiative team, which is already involved in the construction of over 3,000 affordable housing units.<\/p>\n<\/div>\n<\/div>\n

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The Amplifier fund, managed by Desjardins Capital, is a result of the contribution of Centraide of Greater Montreal, the Foundation of Greater Montr\u00e9al, the Trottier Family Foundation, the Lucie and Andr\u00e9 Chagnon Foundation and the McConnell Foundation, along with the Fondation Marcelle et Jean Coutu and the SHQ. These foundations and the Government of Quebec are project sponsors. Desjardins Group will be managing the fund.<\/p>\n<\/div>\n<\/div>\n

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The fund aims to:<\/strong><\/p>\n

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  • Support non-profit organizations with the construction or acquisition of affordable housing<\/li>\n
  • Provide financing in the form of patient capital<\/li>\n
  • Accelerate projects that combine accessibility, energy performance and social innovation<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
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    The Amplifier fund makes it possible to quickly implement\u00a0projects<\/strong>\u00a0that meet ambitious criteria<\/strong>, including:<\/p>\n

      \n
    • Energy efficiency that is at least 35% above requirements set by the National Energy Code of Canada for Buildings 2015<\/li>\n
    • \u00a0Total exclusion of fossil fuels<\/li>\n
    • Rents that meet the affordability standards set by the Quebec Affordable Housing Program (QAHP)<\/li>\n
    • Universally accessible units, adapted to the needs of families<\/li>\n
    • Initiatives led by non-profit organizations or cooperatives<\/li>\n<\/ul>\n<\/div>\n<\/div>\n
      \n
      \n

      Backed by a specialized affordable housing team<\/strong><\/p>\n

      The Amplifier fund will support housing projects targeted by the Desjardins Affordable Housing Initiative. Through the strengths of its team, its vast network and its \u201cone-stop shop\u201d model for affordable housing, Desjardins supports housing cooperatives, community organizations and municipal stakeholders in identifying and assessing projects.<\/p>\n

      This approach helps accelerate the creation of affordable housing using different kinds of financial support: government grants, mortgages guaranteed by the Canada Mortgage and Housing Corporation (CMHC), patient capital and community contributions.<\/p>\n<\/div>\n<\/div>\n

      \n
      \n

      Launched in 2022, the Desjardins Affordable Housing Initiative is the results of a partnership between the Quebec government and Desjardins with a mission to create\u00a01,000 new affordable housing units in three\u00a0years. Desjardins\u2019s model has been so effective, the target was doubled. Then, in June\u00a02025, a new agreement was signed between Desjardins and the governments of Quebec and Canada, bringing the total target to over 3,000\u00a0affordable housing units across the province. The affordability of these units is guaranteed for at least 35\u00a0years.<\/p>\n

      Non-profit organizations and cooperatives that want to submit a project can contact their local Desjardins Business centre or Caisse d\u2019\u00e9conomie solidaire Desjardins.<\/p>\n<\/div>\n<\/div>\n

      \n
      \n

      Quotes<\/strong><\/p>\n

      \u201cThis innovative initiative clearly shows that Quebec\u2019s here to work together and reduce inequality. This initiative wouldn\u2019t be possible without the trust of our partners and of the SHQ, and we\u2019re so grateful for their support. We\u2019re committed to working hand in hand, drawing on our strengths, expertise and networks to help mitigate this province-wide housing crisis.\u201d<\/p>\n

      Guy Cormier, President and CEO of Desjardins Group<\/em><\/p>\n

      \u201cI\u2019ve said it before and I\u2019ll say it again: we need to innovate to build more and build better, especially in a housing crisis. The Amplifier fund is further proof that we\u2019re taking action to finance affordable housing. With a 15%\u00a0contribution, our government has helped implement the Amplifier fund and mobilize the expertise and capital of committed private partners. Together, we\u2019re accelerating the creation of sustainable, affordable housing that meets the needs of communities across Quebec.\u201d<\/p>\n

      France-\u00c9laine Duranceau, Minister Responsible for Housing<\/em><\/p>\n

      Building on our Speaking Truths on Housing conversation that we started in 2023, the Amplifier fund reflects our commitment to taking meaningful action together to respond to the housing crisis, which is affecting more and more people and families in Quebec. The decision to work with Desjardins came naturally: our community-based approach and our ability to provide support make us a trusted partner. We would also like to thank the Government of Quebec for its essential contribution to make this ambitious initiative a reality.\u201d<\/p>\n

      Claude Pinard, President and Executive Director of Centraide of Greater Montreal<\/em><\/p>\n

      \u201cFor the Foundation of Greater Montr\u00e9al, the Amplifier fund is a perfect example of what impact investing and collaboration can accomplish. Through this project, we aim to improve access to affordable housing and reduce greenhouse gases, while anticipating a return in line with our targets. Thanks to all the partners who made this possible, and to those who will roll out the projects in the communities.\u201d<\/p>\n

      Marie-Andr\u00e9e Farmer, Interim President and CEO of the Foundation of Greater Montr\u00e9al<\/em><\/p>\n

      \u201cThe Trottier Family Foundation is proud to partner with the Amplifier fund, which will pave the way for a more equitable and resilient development model in response to both the housing and climate crises. By supporting projects that combine energy performance, social inclusion and long-term sustainability, we\u2019re demonstrating that ambitious solutions aren\u2019t just necessary, but possible. It\u2019s time to invest in key approaches that will accelerate the transition to a more just and carbon-neutral Quebec.\u201d<\/p>\n

      Sylvie Trottier, Board Member of the Trottier Family Foundation<\/em><\/p>\n

      \u201cWe\u2019re thrilled to join forces with the other partners in the Amplifier fund to help develop\u00a0<\/em>environmentally responsible affordable housing in Quebec. Thanks to this key, innovative fund, sustainable family residential projects will be able to see the light of day, helping both to reduce inequalities and strengthen the social and ecological resilience of communities.\u201d<\/p>\n

      Adrienne Kelly, President and CEO of the Lucie and Andr\u00e9 Chagnon Foundation<\/em><\/p>\n

      \u201cResponding to the housing crisis means building more.\u00a0<\/em>But it also means building better by focusing on sustainable, equitable and community-based projects.\u00a0<\/em>The Amplifier fund embodies this vision with a clear image of the future.\u00a0<\/em>The Fondation Marcelle et Jean Coutu is pleased to join the partners of this promising initiative to respond to the call for a new way of investing, with impact and solidarity.\u00a0<\/em>We believe that our responsibility doesn\u2019t stop at our donations. It starts with the integrity of our commitments.\u201d<\/p>\n

      Marie-Jos\u00e9e Coutu, President of the Fondation Marcelle et Jean Coutu<\/em><\/p>\n

      \u201cThis project shows that affordability and sustainability can be combined, and that housing and climate change can be tackled at once. It also proves that the philanthropic sector can use its funds to address pressing social issues. From the outset, we understood the tremendous potential of this project to bring together partners and create a model that others could replicate.\u201d<\/p>\n

      Jane Rabinowicz, President and CEO of the McConnell Foundation<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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