Safeguarding Affordable Living Spaces through a Protective Trust
Affordable Housing and Economic Development: The MRC des Laurentides Social Purpose Trust
A new initiative is taking shape in Quebec's MRC des Laurentides, aiming to address the region's housing crisis and labor shortage in key sectors like tourism, health, education, and mechanics. Known as a social purpose trust (SPT), this non-profit entity is designed to manage and develop housing projects that prioritize affordability, community stability, and economic development.
The first site, located in Mont-Tremblant, will comprise 68 housing units. The MRC has mobilized one million dollars and estimates the needs for the first project to be between five and six million. Similar initiatives are being prepared in Mont-Blanc, Sainte-Agathe-des-Monts, and Brébeuf, with a goal of 150 housing units in five years.
The governance of the trust will exclusively belong to the mayors of the MRC, and construction and management will be ensured by a non-profit organization. The trust is set up to protect an asset or project to serve the collective interest, without profit. Rents within the trust will be set to remain stable and predictable, offering a solution to the region's housing affordability issues.
However, the project faces several challenges. Bureaucracy and waiting times are preventing many people from acting, and administrative obstacles, particularly those related to immigration policies, are hindering progress. The lack of French language courses is another concern, as the Ministry of Immigration has invested in welcoming and integrating newcomers, but these efforts could be wasted if immigrants are not attracted to the Laurentides region due to the lack of French language courses.
Despite these hurdles, the MRC des Laurentides trust project has received recognition, receiving the Ovation award from the Union of Quebec Municipalities. The trust will rely on a public setup, with land provided by municipalities, the government, or private partners. Ownership of the housing units will be transferred to the trust, guaranteeing their residential use in perpetuity.
The trust's model offers an original approach to collectively regain control of housing to keep the territory habitable beyond the peak season. By leveraging partnerships, patient capital, and integrated social services aligned with regional housing and social development priorities, the MRC des Laurentides social purpose trust aims to provide long-term affordable housing and economic benefits to the region.
[1] Société d’habitation du Québec (SHQ) [2] Union des municipalités du Québec (UMQ) [3] Amplifier fund
- The MRC des Laurentides Social Purpose Trust, recognized by the Union of Quebec Municipalities with the Ovation award, is looking to partner with entities like the Société d’habitation du Québec (SHQ) and the Amplifier fund to strengthen its initiatives in home-and-garden, finance, and policy-and-legislation.
- This unique approach to addressing affordable housing and economic development, as seen in the region's arts, lifestyle, and real-estate sectors, could draw support and investment from various finance and political stakeholders, including the Union des municipalités du Québec (UMQ) and local politicians.
- To overcome administrative obstacles related to immigration policies, the trust is advocating for increased public funding and resources aimed at offering French language courses in the Laurentides region, as well as targeted legislation to streamline the immigration process for skilled workers in need of housing.
- The MRC des Laurentides social purpose trust also seeks to collaborate with general-news media outlets to raise awareness about their efforts, fostering a conversation on the importance of affordable housing and economic development within various local communities and industries.
