The Quebec government is contributing $16.8 million to help convert Manoir Lafontaine into affordable housing, adding to the $5.9 million already promised by the City of Montreal.
The 93-unit apartment building in the Plateau was purchased earlier this year by Interloge, a nonprofit specializing in affordable housing.
Manoir Lafontaine had become a symbol of the city's housing crisis after its tenants were threatened with eviction so the previous owners could renovate.
A 2022 ruling by Quebec's rental board tribunal sided with the tenants, and the building on Papineau Avenue was eventually sold to Interloge for $18,810,000.
"The building could have gone down in history as a symbol of renoviction in Montreal. In the end, it was a victory against the commodification of housing," said Mayor Valerie Plante in a Monday press release.
According to Interloge, the project is budgeted at $38 million, with renovations expected to begin in the fall.
In addition to funding from Quebec and Montreal, Interloge will foot the $360,000 down payment and receive $13.5 million in financing and $1.9 million in patient capital from Desjardins bank.
Meanwhile, the Plateau-Mont-Royal borough will pitch in $35,000 for due diligence costs.
"This outcome crowns the mobilization of the tenants who fought for two years to defend their right to remain in their units, but also to preserve the affordability of these units for others who will be able to benefit from them," said borough Mayor Luc Rabouin.
