Friday, September 22, 2023

“Affordable” housing in phase 2 of the Mon Symposium project

Second phase of the Mon Symposium real estate project, which is under construction with a cost of 42 M$ in the Les Rivières neighborhood, in Quebec, will offer 10 % of housing “ affordable ».

Construction of the six-story building, which will include 166 units, is underway, explained David Duperron, developer of Développement FSTB.

“The outer envelope should be closed at the end of October. We plan to deliver the units before 1is June 2024. Despite the rain this summer, we are ahead of schedule. “We are very happy,” said Duperron.

The “affordable” home price was set at $1,027 per month, plus $310 in mandatory inclusions such as parking and appliances, bringing the total to $1,337 for a three-and-a-half-bedroom apartment.

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“With the construction costs we encountered, I was careful in the design of the building (…). I try to keep my rent as low as possible, but these projects are what allow people to migrate to new construction and free up other housing. It is in this cycle where I see our place. »

To be eligible for CMHC’s APH Select program, you must meet certain criteria, the developer added, including affordability.

“The project planned here before the pandemic was to build a residence for seniors, with a grocery store on the ground floor. When the pandemic hit, everyone was nervous. breaks for the development of residences for the elderly. The same thing happened in grocery stores. The only promising niche was residential rentals. We converted the project quickly,” Duperron explained.

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This project is being carried out in collaboration with the FTQ Real Estate Solidarity Fund. A phase three is also planned.

Another feature, according to Duperron, is that 20% of the homes have a “universal” design, meaning they are designed to allow greater long-term autonomy for residents with disabilities and special needs.

The work entitled Étincelles, which will shine in the heart of the central courtyard in the summer of 2024, for the pleasure of the tenants. Photo Diane Tremblay

On the occasion of the official launch of the marketing, those responsible for the project unveiled this Monday the model of the work sparks, which will shine in the heart of the central courtyard in the summer of 2024. The exterior development will be completed with a heated in-ground swimming pool, a meeting area, a community garden and a Symposium plaza that will allow its residents to organize events. there.or various artistic exhibitions.

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