Montreal’s Housing Crisis: Urgent Solutions Proposed by Parties

BREAKING: All five parties competing for control of Montreal City Hall are rallying around the urgent need to address the city’s escalating housing crisis. Each party has unveiled distinct proposals to tackle the growing issues of housing affordability and homelessness, but the clock is ticking as the election approaches.

The stakes are high: home ownership is increasingly out of reach for many residents, with approximately 60% of Montrealers renting their homes. Renaud Goyer, a social policy professor at UQAM, emphasizes that the city must step up its efforts, stating, “Building more isn’t a magic solution.” He highlights that most of the city’s vacant units are new and expensive, urging a shift towards converting existing properties into public housing.

UPDATE: Projet Montréal leader Luc Rabouin announced a plan for a $100 million guarantee fund aimed at helping non-profits secure financing for affordable housing. “We can limit Airbnb without needing the approval of Quebec or the federal government,” Rabouin told CTV News, as he urged the need for contributions from provincial and federal governments to create genuinely affordable housing options.

The city’s current administration has had the right of first refusal on specific properties since 2018, allowing it to purchase before private developers can intervene. Yet, the reliance on non-profit partners and government subsidies remains a significant hurdle.

As the campaign heats up, the debate surrounding the controversial 20-20-20 bylaw intensifies. This regulation mandates large housing projects to include 20% social housing, 20% affordable housing, and 20% family units. Most developers have opted to pay fines instead of complying, with Montreal collecting $58 million in penalties since the bylaw’s inception in 2021. Critics argue that this reliance on private developers is insufficient to meet the demand for social housing.

Meanwhile, the average rent in Montreal has skyrocketed, with the price of a two-bedroom unit now averaging $1,176—almost double what it was in 2018. The Canada Mortgage and Housing Corporation (CMHC) has recommended an average rent increase of 5.9% this year, the highest in three decades, exacerbating the urgency of the situation.

Several parties have proposed alternatives to increase housing affordability, including a proposal by Ensemble Montréal to use fines from private developers to fund social housing initiatives. Additionally, Futur Montréal aims to introduce a luxury housing levy to create a dedicated fund for affordable housing. Transition Montréal leader Craig Sauvé has taken a stronger stance, advocating against public funds going to private developers.

The urgency of these proposals cannot be overstated. With the provincial election looming in 2024, the new administration will need to act quickly to secure support from Quebec for housing initiatives. Goyer warns that without a significant increase in public and social housing, rent and home prices will continue to spiral out of control.

As the parties gear up for the elections, the focus remains on what concrete actions will be implemented to address this critical crisis. The city is at a crossroads, and the decisions made in the coming months will have lasting impacts on the lives of thousands of Montreal residents.

What’s next? Watch for party debates and public discussions as solutions are proposed and scrutinized. The urgency for effective action to tackle Montreal’s housing crisis has never been more pronounced.