Series - Editorial Fellowship: Social Finance in Canada Suncor Energy Foundation 2023/24

Seven solutions to help non-profit promoters deliver more affordable units

Author Diane Berard
UTILE plans to build and operate 3,000 affordable student housing units by 2027

Why It Matters

Real estate developers have little to gain from building affordable units. Even when laws force them to include those units in their projects, like Montrealโ€™s 20-20-20 rules, they pay a fine not to do so. Non-profit housing is still the most efficient way to ensure a critical mass of long-term affordable units in a community.

var TRINITY_TTS_WP_CONFIG = {"cleanText":"Seven solutions to help non-profit promoters deliver more affordable units. In 2026, at the corner of Saint-Laurent Boulevard and Ontario Street in downtown Montreal, 167 affordable student units will replace Les Katacombes building, once the meeting place for metal music fans. Promoter UTILE will rent these units 20 to 30 per cent under market prices. Le M\u00e9ridien is this non-profit\u2019s third student housing project in Montreal and its fourth in Quebec. UTILE received preferential treatment from the City of Montreal for this project, obtaining a waiver to allow greater density. By adding extra floors, UTILE will see land value increase by $5.6 million. This sum will add leverage to finance the next affordable student housing project. UTILE plans t

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