Investments of $19 million for a new rental complex in Matane

This is great news for people.commented the mayor. Now we are looking to the future.

This announcement comes at a time when the vacancy rate in Matane is around 1.7% according to data from the Canada Mortgage and Housing Corporation (CMHC). This is nearly four times the rate of 2017 when 6.2% of housing in Matane was then available.

The Mayor of Matane, Eddy Métivier and the MNA for Matane-Matapédia as well as the promoters Joël Bernier, Sébastien Tremblay and Sébastien Coll, were very pleased this morning to announce this investment of $19 million.

Photo: Radio-Canada / Michel-Felix Tremblay

Mayor Eddy Métivier would like to achieve a certain balance and see the vacancy rate stabilize around 3%. It’s a need that needs to be filled, he says, and that’s why this project, by STB Immobilier, really comes in handy to provide space.

What I also like is that there will be future housing for CEGEP students, which is really a plus. »

A quote from Eddy Métivier, Mayor of Matane

Even if the price of construction materials keeps rising, STB can afford such a large project because the company owns its construction company.

The company’s president, Joël Bernier, is well aware of this advantage: Before, we saw a lot of real estate developers who bought land and called contractors to build rental accommodation. It is impossible today.

A waiting list

The apartments will be for rent. They should quickly find takers, believes Mr. Bernier. His company has already built 30 other units in Matane, all of which are already rented. I have a list on my desk that we were keeping until we made the announcement today. I would tell you that in my opinion, in 30 days, there should not be many left for the May 2023 delivery.

The rental price for the new units has not yet been determined since it will be established by CMHC based on the cost of construction.

However, these accommodations will not be for all budgets. A four and a half could cost $1050 per month. The company mainly targets people who are selling their homes.

The original owners of the land had been fined in the past for over-clearing.

The site, which has been deforested in recent months, is located between the CEGEP and the Matane high school.

Photo: Radio-Canada

Joël Bernier wants to reforest and plant a cedar hedge near the parking lot which will help collect water from the land. Because one issue we have is that at 89 units, the stormwater network, we must not send it all the water from the parking lots explains the businessman.

The contractor and the City are already working to maximize water recovery from the site.

Municipal support

For the mayor, this announcement is also a message of hope regarding the housing shortage.

In the current context of labor and housing shortages, Eddy Métivier believes that this project has only positive aspects for the city and will help socio-economic development. This new workforce that we want, it takes places to house it. […] It’s a great start and it invites other promoters to continue it.

The City of Matane will support the STB Immobilier project with a three-year tax credit program at 100% followed by two years at 50%.

The mayor specifies that the municipal program is aimed at all promoters who have similar projects.

Although the agreements have not yet been finalized, the City will have to build the street. The estimate of the cost of the development of the new district has not yet been carried out, but the mayor assures that the City is working on it.

A text by Catherine Charest with information from Michel-Félix-Tremblay

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