Developers will be required to assist in improving supply
Earlier this week, Montreal unveiled a new by-law that included an update to the requirements for multi-family construction permits.
The By-law for a Diverse Metropolis specifically mandated developers to help improve the availability of cost-effective homes in the market.
“To qualify for a residential construction permit, the contractor will have to enter into an agreement with the city, whereby they will contribute to increasing the supply of social, affordable and family housing, either by building new dwelling units, transferring land, or paying a financial contribution,” the Montreal government announced.
Mayor Valérie Plante said that the new by-law will serve as the blueprint of the Montreal of the future.
“To maintain the quality of our living environments, along with the diversified housing supply that Montréal is known for, we must broaden our vision,” Plante stated.
“We have developed this by-law in an effort to maintain affordability, to continue to be welcoming for families, workers, students, seniors and newcomers, all while offering quality housing to low-income households.”
The city government promised that the statute will not sacrifice economic and market stability.
"We strive for a greater and more inclusive housing supply, but not at any cost,” according to Robert Beaudry, executive committee member responsible for economic and commercial development, housing and design.
“We believe we have developed a tool that will provide a solid framework all while propelling the construction of social, affordable and family housing units, without compromising the vitality and affordability of the residential market as a whole.”
