Desjardins Affordable Housing Initiative: A strong partnership to deliver 1,000 additional affordable housing units across Quebec

The Government of Quebec, the Government of Canada and Desjardins are pleased to announce the creation of 1,000 new affordable housing units over the next three years. These units will be created as part of the Desjardins Affordable Housing Initiative. This partnership was launched in 2022 and will deliver more than 3,000 units by 2028. 

Almost $184 million in funding has been earmarked for these 1,000 new units. Part of this funding will come from the Housing Accelerator Fund (HAF), under which the Government of Canada will provide Quebec with $900 million to accelerate the construction of residential units in the province, along with an additional $900 million investment announced by the Government of Quebec during its fall 2023 economic update. Desjardins has committed to granting nearly $50 million in mortgage financing or patient capital to community developers. 

With its one-stop shop model and extensive network of caisses and Desjardins Business centres, Desjardins can support community developers such as housing cooperatives, community organizations and municipal stakeholders to identify and qualify projects to accelerate the creation of affordable housing.

“The housing crisis requires a strong, quick and coordinated response. This renewed partnership demonstrates that together, we can deliver real, large-scale results that have a real impact on people’s lives. At Desjardins, we see access to affordable housing as a key driver to build stronger, more equitable and more people-focused communities. By adding 1,000 affordable housing units to our roadmap, we’re continuing our commitment to supporting families, workers and communities across Quebec”, said Guy Cormier, President and CEO of Desjardins Group

• As at May 31, 2025, there were nine projects totalling 1,198 housing units underway, plus another 908 housing units under construction.
• These projects are located across 14 Quebec regions.

The Desjardins Affordable Housing Initiative was launched in 2022 under an innovative partnership between the Quebec government and Desjardins. Its initial target was the creation of 1,000 affordable housing units by the end of 2025. 

Thanks to the expertise of its dedicated team, Desjardins has quickly surpassed the goal set out in the initial agreement and raised it to more than 2,000 units. 

The second agreement signed with the Government of Quebec in partnership with the Government of Canada is a clear indicator of Desjardins’s leadership in tackling the housing crisis. 

In just six years, this partnership will make more than 3,000 affordable housing units available across the province and ensure their affordability for at least 35 years.

“I’m very proud that partnering with Desjardins is making a real difference. This proves that by working together with the Government of Canada, municipalities, and housing organizations, we’re able to quickly deliver quality affordable housing for Quebecers who need it most. We’re innovating, we’re thinking outside the box, and we’re working hard to respond to the housing crisis. Our government is committed to doing things differently to building more and building better.”

France-Élaine Duranceau, Minister Responsible for Housing

“Our government is implementing a series of measures to help double residential construction rates across the country. We’re going to make housing more affordable by harnessing the power of public-private cooperation. Working with the Quebec government and Desjardins brings us closer to our goal to provide more affordable housing to Quebecers.”

The Honourable Gregor Robertson, Minister of Housing and Infrastructure

“The major partnership with Desjardins has proven its value in the field. It reinforces the SHQ’s housing efforts by allowing us to work hand in hand with our partners to provide more affordable housing to those who need it most—families, seniors, single people—throughout Quebec.”

Jean Martel, President and CEO, Société d’habitation du Québec