{"id":10577,"date":"2021-01-29T14:29:32","date_gmt":"2021-01-29T19:29:32","guid":{"rendered":"https:\/\/fonds-risq.qc.ca\/?p=10577"},"modified":"2021-01-29T14:29:32","modified_gmt":"2021-01-29T19:29:32","slug":"18-6-million-to-help-community-organizations-buy-property","status":"publish","type":"post","link":"https:\/\/fonds-risq.qc.ca\/en\/18-6-million-to-help-community-organizations-buy-property\/","title":{"rendered":"18.6 Million to Help Community Organizations Buy Property"},"content":{"rendered":"<p style=\"text-align: right;\"><strong>Press Release<br \/>\nFor immediate release<\/strong><\/p>\n<p style=\"text-align: left;\"><strong><u>Community Commercial Real Estate Crisis in the Greater Montreal Area<\/u><\/strong><\/p>\n<p style=\"text-align: center;\"><strong>$18.6 Million to Help Community Organizations Buy Property<\/strong><\/p>\n<p><strong>Montr\u00e9al, January 29, 2021<\/strong> \u2013 In response to the ongoing commercial real estate crisis, Centraide of Greater Montreal and the Coalition montr\u00e9alaise des Tables de quartier have mobilized over a dozen philanthropic, financial, community and municipal partners to launch the new <strong>Initiative immobili\u00e8re communautaire du Grand Montr\u00e9al<\/strong>. With a total of <strong>$18.6 million<\/strong> in funding, this initiative <strong>will support community organizations in their efforts to acquire property<\/strong> and escape the precarity of renting space. Many community groups are struggling to find adequate space close to the populations they serve, as a result of rising commercial rents and property owners removing affordable spaces from the market.<\/p>\n<p>This is why the <strong>Lucie and Andr\u00e9 Chagnon Foundation<\/strong>, the <strong>Fonds immobilier de solidarit\u00e9 FTQ<\/strong>,<strong> CEOS Family Office<\/strong>, the<strong> Mirella and Lino Saputo Foundation<\/strong>, the <strong>Centraide of Greater Montreal Foundation<\/strong>, the <strong>McConnell Foundation<\/strong>, the <strong>B\u00e9ati Foundation<\/strong> and the <strong>City of Montr\u00e9al<\/strong> are uniting to offer <strong>three financial tools<\/strong> to support community organizations, non-profit organizations, cooperatives and social trusts in the Greater Montreal Area through every step of acquiring real estate, from the earliest development phases to final occupation:<\/p>\n<ul>\n<li>a <strong>loan program for support services<\/strong>, with $1.65 million to help organizations secure professional support and technical assistance in developing their projects;<\/li>\n<li>the <strong>Social Acquisition Fund<\/strong>, with $5.95 million to help quickly acquire a building, get it off the market and ensure its purchase, even before the project\u2019s financial structure has been confirmed;<\/li>\n<li>the <strong>Social Investment Fund<\/strong>, with $11 million to complete the financing needed for the acquisition, renovation or construction of buildings and commercial spaces for community purposes.<\/li>\n<\/ul>\n<p>A simple and streamlined process has been developed for organizations wishing to submit a funding request. The website <a href=\"http:\/\/initiativeimmobiliere.ca\">initiativeimmobiliere.ca<\/a> allows organizations to confirm their eligibility, choose the financial tool that meets their needs, prepare their request and submit an application.<\/p>\n<p><strong>An Ongoing Real Estate Crisis<\/strong><\/p>\n<p>Growing pressure on the commercial real estate market throughout the greater metropolitan area has made it increasingly difficult for community groups to access adequate and well-located spaces. An analysis of the situation on the ground confirmed that property ownership represents an advantageous solution for community groups seeking space that will fully meet the needs of their communities.<\/p>\n<p><strong>Quotes<\/strong><\/p>\n<p>&#8220;Seeking to address the crisis in community commercial real estate, Centraide of Greater Montreal and the Coalition montr\u00e9alaise des Tables de quartier began a process three years ago that has allowed us to mobilize numerous philanthropic, financial, municipal and community partners. Today, we\u2019re proud to announce the launch of the new Initiative immobili\u00e8re communautaire du Grand Montr\u00e9al to increase the accessibility of real estate for community groups.\u201d &#8211; <strong>Mario R\u00e9gis<\/strong>, Vice-President \u2013 Social Development, Centraide of Greater Montr\u00e9al<\/p>\n<p>\u201cBy facilitating access to real estate, the Initiative immobili\u00e8re communautaire du Grand Montr\u00e9al will help community organizations that want to own their own property concentrate their resources on what really matters: pursuing their fundamental missions and ensuring they can offer both their services and a welcoming environment to local communities over the long-term while contributing to their development.\u201d \u2013 <strong>Yves Bellavance<\/strong>, coordinator, Coalition montr\u00e9alaise des Tables de quartier<\/p>\n<p>\u201cAccess to adequate and affordable space is an essential factor in allowing community organizations to focus fully on their role as local leaders. The Lucie and Andr\u00e9 Chagnon Foundation is proud to support the Initiative immobili\u00e8re communautaire du Grand Montr\u00e9al. We have no doubt that, by uniting such a diverse set of partners, it will succeed in meeting the needs of the community sector. It also represents an opportunity to draw important lessons and develop expertise to establish new and sustainable models.\u201d &#8211; <strong>Jean-Marc Chouinard<\/strong>, President, Lucie and Andr\u00e9 Chagnon Foundation<\/p>\n<p>\u201cThe purpose of the Initiative immobili\u00e8re is to reduce the risks faced by organizations as they pursue real estate projects, so that they can instead focus on continuing to provide value-added services to the population. This is what motivates us in our role as a socially responsible investor\u2015a role that we have taken to heart for over 30 years and which has allowed for the construction or renovation of almost 5,300 residential units for moderate-income households to date. The Initiative will help organizations secure loans and offer them support through every step of their project, from design to occupation.\u201d &#8211; <strong>Normand B\u00e9langer<\/strong>, President and CEO, Fonds immobilier de solidarit\u00e9 FTQ<\/p>\n<p>\u201cCommunity organizations have deep roots in our communities and in our neighbourhoods. They\u2019re an integral part of our social safety net, and their work is of critical important to many vulnerable populations. More than ever, we must work together to preserve, develop and support them. The City of Montr\u00e9al is proud to answer the call of its partners and to offer its support for the Initiative immobili\u00e8re communautaire du Grand Montr\u00e9al. It represents a concrete and effective solution to help community organizations in the Greater Montreal Area by facilitating their access to real estate.\u201d &#8211; <strong>Luc Rabouin<\/strong>, Responsible for economic and commercial development and design on the Executive Committee of the City of Montr\u00e9al<\/p>\n<p><strong>About the Initiative immobili\u00e8re communautaire du Grand Montr\u00e9al<\/strong><\/p>\n<p>The Initiative immobili\u00e8re communautaire du Grand Montr\u00e9al is an $18.6 million investment fund specifically developed for community organizations in the Greater Montreal Area. It is intended to help them purchase adequate space to meet the needs of their local communities.<\/p>\n<p>The Initiative is managed by the Chantier de l\u2019\u00e9conomie sociale Trust, in partnership with the R\u00e9seau d&#8217;investissement social du Qu\u00e9bec. A portion of the startup funds for the Initiative was provided by the Government of Canada through its Investment Readiness Program.<\/p>\n<p style=\"text-align: center;\">\u2013 30 \u2013<\/p>\n<p><strong>Contact:<\/strong><\/p>\n<p><strong>Lo\u00efc de Fabritus Gautier<br \/>\n<\/strong>COPTICOM, Strategy and Public Relations<br \/>\n<a href=\"mailto:ldefabritus@copticom.ca\">ldefabritus@copticom.ca<\/a><br \/>\n438-820-6170<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Press Release For immediate release Community Commercial Real Estate Crisis in the Greater Montreal Area $18.6 Million to Help Community Organizations Buy Property Montr\u00e9al, January 29, 2021 \u2013 In response to the ongoing commercial real estate crisis, Centraide of Greater Montreal and the Coalition montr\u00e9alaise des Tables de quartier have mobilized over a dozen philanthropic,&#8230;<\/p>\n","protected":false},"author":3,"featured_media":10570,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[125,126],"tags":[],"class_list":["post-10577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-actualites-en","category-communiques-de-presse-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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