Montreal real estate fund for non-profits becomes a Quebec fund
Five social investors have joined the original backers of a Montreal real estate initiative to launch a new $50‑million fund with a province‑wide scope.
The expanded investment builds on a 2021 effort to help non-profits secure long‑term space by shifting from renting to owning.
The original fund, worth $18.6 million, was created by three foundations, a workers’ fund, and Montreal’s United Way. Through the initiative immobilière communautaire du Grand Montréal, 77 community organizations received loans to purchase buildings, stabilize their operations, and continue serving their clients.
Despite these gains, the initiative reports that 76 per cent of Montreal community organizations remain at risk of involuntary displacement due to real estate pressures.
The new provincial fund will offer loans for building acquisition, renovation, and expansion. Among the new investors are Cap Finance, one of the three wholesalers for the federal Social Finance Fund, and the Congrégation des Saints Noms de Jésus et de Marie, a religious community whose mission is rooted in the work of its founder, Marie‑Rose Durocher.
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