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Montreal, July 22nd, 2025 – Desjardins Group, in collaboration with leading charitable organizations and the Société d’habitation du Québec (SHQ), is launching the Amplifier fund, which will be allocating $50 million 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.
The Amplifier fund, managed by Desjardins Capital, is a result of the contribution of Centraide of Greater Montreal, the Foundation of Greater Montréal, the Trottier Family Foundation, the Lucie and André 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.
The fund aims to:
The Amplifier fund makes it possible to quickly implement projects that meet ambitious criteria, including:
Backed by a specialized affordable housing team
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 “one-stop shop” model for affordable housing, Desjardins supports housing cooperatives, community organizations and municipal stakeholders in identifying and assessing projects.
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.
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 1,000 new affordable housing units in three years. Desjardins’s model has been so effective, the target was doubled. Then, in June 2025, a new agreement was signed between Desjardins and the governments of Quebec and Canada, bringing the total target to over 3,000 affordable housing units across the province. The affordability of these units is guaranteed for at least 35 years.
Non-profit organizations and cooperatives that want to submit a project can contact their local Desjardins Business centre or Caisse d’économie solidaire Desjardins.
Quotes
“This innovative initiative clearly shows that Quebec’s here to work together and reduce inequality. This initiative wouldn’t be possible without the trust of our partners and of the SHQ, and we’re so grateful for their support. We’re committed to working hand in hand, drawing on our strengths, expertise and networks to help mitigate this province-wide housing crisis.”
Guy Cormier, President and CEO of Desjardins Group
“I’ve said it before and I’ll 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’re taking action to finance affordable housing. With a 15% contribution, our government has helped implement the Amplifier fund and mobilize the expertise and capital of committed private partners. Together, we’re accelerating the creation of sustainable, affordable housing that meets the needs of communities across Quebec.”
France-Élaine Duranceau, Minister Responsible for Housing
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.”
Claude Pinard, President and Executive Director of Centraide of Greater Montreal
“For the Foundation of Greater Montréal, 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.”
Marie-Andrée Farmer, Interim President and CEO of the Foundation of Greater Montréal
“The 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’re demonstrating that ambitious solutions aren’t just necessary, but possible. It’s time to invest in key approaches that will accelerate the transition to a more just and carbon-neutral Quebec.”
Sylvie Trottier, Board Member of the Trottier Family Foundation
“We’re thrilled to join forces with the other partners in the Amplifier fund to help develop 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.”
Adrienne Kelly, President and CEO of the Lucie and André Chagnon Foundation
“Responding to the housing crisis means building more. But it also means building better by focusing on sustainable, equitable and community-based projects. The Amplifier fund embodies this vision with a clear image of the future. 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. We believe that our responsibility doesn’t stop at our donations. It starts with the integrity of our commitments.”
Marie-Josée Coutu, President of the Fondation Marcelle et Jean Coutu
“This 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.”
Jane Rabinowicz, President and CEO of the McConnell Foundation
