NCLA Wins Further Discovery in Historic Suit Against Government's Censorship Industrial Complex
Washington, D.C., Nov. 08, 2024 (GLOBE NEWSWIRE) — Today, the U.S. District Court for the Western District of Louisiana granted the New Civil Liberties Alliance’s request for further jurisdictional discovery in the landmark Missouri v. Biden lawsuit against government-induced social media censorship. In June, the Supreme Court vacated the preliminary injunction in the case (called Murthy v. Missouri at that stage) that barred officials from the White House, CDC, FBI, Cybersecurity and Infrastructure Security Agency (CISA), and the Surgeon General’s office from coercing and significantly encouraging social media platforms to censor constitutionally protected speech. NCLA’s clients, two of whom are top epidemiologists, have been blacklisted, shadow-banned, de-boosted, throttled, and suspended on social media as part of a censorship campaign orchestrated by the White House and others in a “whole of government” effort.
The Supreme Court wrongly found NCLA clients Drs. Jayanta Bhattacharya, Martin Kulldorff, and Aaron Kheriaty, and Ms. Jill Hines lacked standing to support the injunction. However, with limited discovery at the preliminary injunction stage, we uncovered a vast operation censorship emanating from the highest levels of government, across at least a dozen agencies, and featuring well over a hundred government actors—and potentially many more that are currently unknown. Agencies and the White House directed social media companies to censor viewpoints that conflicted with federal government messaging on topics ranging from Covid-19 to elections.
The nature and significance of the Biden Administration’s illicit conduct probably would not have come to light in the absence of this lawsuit. Although the Supreme Court majority did not reach the merits of the case, Justices Alito, Thomas and Gorsuch addressed the substance of Plaintiffs’ claims and concluded that the government’s conduct violated the First Amendment. Now, NCLA’s clients will receive the discovery they need to establish standing under the Supreme Court’s standard, so they are likely to prevail on the merits of their claims.
NCLA released the following statement:
“Thankfully, the District Court isn’t allowing the government to get away with its unlawful censorship enterprise by carrying it out in secret. We welcome the opportunity to show that the government was and continues to be responsible for censorship of our clients.”
— Jenin Younes, Litigation Counsel, NCLA
For more information visit the case page here or watch the case video here.
ABOUT NCLA
NCLA is a nonpartisan, nonprofit civil rights group founded by prominent legal scholar Philip Hamburger to protect constitutional freedoms from violations by the Administrative State. NCLA’s public-interest litigation and other pro bono advocacy strive to tame the unlawful power of state and federal agencies and to foster a new civil liberties movement that will help restore Americans’ fundamental rights.
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Joe Martyak New Civil Liberties Alliance 703-403-1111 joe.martyak@ncla.legal
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$286M sale of Parkside Apartments sets benchmark for luxury living in Redmond
JLL’s Capital Markets group facilitates landmark transaction in tech-centric hub near Seattle MSA
SEATTLE, Nov. 8, 2024 /PRNewswire/ — JLL‘s Capital Markets group announced today the successful $286 million sale of Parkside Apartments, a 664-unit luxury community in Redmond, Washington.
JLL worked on behalf of the seller, a partnership between a Texas-based group of investors previously associated with Lincoln Property Company Residential and Daiwa House Texas, and procured the buyer, Lakevision Capital.
Parkside Apartments, located at 15551 NE Turing St., is strategically situated within the Esterra Park master-planned community. Just minutes away from the East Link Light Rail Extension in Overlake, SR-520 and I-405, residents can enjoy a convenient connection to Downtown Redmond, Bellevue and Seattle. Nearby, there’s a wealth of shopping, tech employment hubs and nightlife options.
Redmond is a thriving city located in the Seattle MSA’s Eastside, just 20 minutes from Seattle and 10 minutes from Downtown Bellevue. It’s recognized as the “Bicycle Capital of the Northwest” and boasts extensive parks and trails. Redmond is a major technology hub, home to prominent tech firms. The city offers excellent schools, diverse recreational opportunities and a vibrant cultural scene, making it one of the most livable small cities in the U.S.
Developed in 2021, Parkside Apartments spans 4.5 acres and offers an array of upscale amenities, including two rooftop decks with panoramic views, state-of-the-art fitness centers, a pet wash station, an entertaining suite and a game lounge. The four-building community ranges from five- to eight floors and provides studios, one- and two-bedroom options, each featuring modern kitchens with quartz countertops, stainless steel appliances, expansive private balconies, walk-in closets and full-size washers and dryers.
JLL’s Capital Markets Investment and Sales Advisory team was led by Senior Managing Directors David Young and Corey Marx and Senior Director Chris Ross.
“Parkside Apartments exemplifies the vibrant, well-connected living experience that is highly sought after in this thriving tech region,” said Jason Byrne who is managing member for the investment. “We were pleased to have partnered with Daiwa House Texas on this community and appreciate JLL’s support facilitating this transaction.”
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About Lakevision Capital
Lakevision Capital, established in 2018, acquires institutional-quality multifamily apartment communities across the US. With a focus on markets with strong job growth and accessible public transit, such as the Bay Area and Seattle, Lakevision is committed to providing the best apartment lifestyle to tenants and creating a positive impact in the communities they serve.
About JLL
For over 200 years, JLL JLL, a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
Contact: Gréta Kieras, Senior Associate, Public Relations
Phone: +1 949 930 8498
Email: greta.kieras@jll.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/286m-sale-of-parkside-apartments-sets-benchmark-for-luxury-living-in-redmond-302300367.html
SOURCE JLL
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
ROSEN, A LEADING LAW FIRM, Encourages Elanco Animal Health Incorporated Investors to Secure Counsel Before Important Deadline in Securities Class Action – ELAN
NEW YORK, Nov. 08, 2024 (GLOBE NEWSWIRE) —
WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Elanco Animal Health Incorporated ELAN between November 7, 2023 and June 26, 2024, both dates inclusive (the “Class Period”), of the important December 6, 2024 lead plaintiff deadline.
SO WHAT: If you purchased Elanco securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Elanco class action, go to https://rosenlegal.com/submit-form/?case_id=29600 or call Phillip Kim, Esq. at 866-767-3653 or email case@rosenlegal.com for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 6, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Zenrelia, a once-daily oral Janus kinase (“JAK”) inhibitor for canine dermatology, was less safe than Elanco had led investors to believe; (2) Elanco was unlikely to meet its own previously issued timeline for the U.S. approval and commercial launch of both Zenrelia and Credelio Quattro, a broad spectrum parasiticide product for dogs; (3) accordingly, Elanco’s business and/or financial prospects were overstated; and (4) as a result, Elanco’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Elanco class action, go to https://rosenlegal.com/submit-form/?case_id=29600 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
______________________
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
New Phase of St. Augustine Masterplan Open for Sales
Amenity-laden TrailMark offers beautiful new homes with open layouts
ST. AUGUSTINE, Fla., Nov. 8, 2024 /PRNewswire/ — Richmond American Homes of Florida, LP, a subsidiary of M.D.C. Holdings, Inc., is pleased to announce that a new phase at TrailMark (RichmondAmerican.com/TrailMark) is now open for sales. This popular masterplan offers an impressive array of single- and two-story floor plans showcasing designer-curated fixtures and finishes (RichmondAmerican.com/Curated). Quick move-in options are available for prospective buyers on tight timelines.
TrailMark highlights:
- New single- & two-story homes from the mid $500s
- Five thoughtfully designed floor plans with open layouts
- Up to 5 bedrooms & approx. 3,100 sq. ft.
- Professionally curated fixtures and finishes
- Gourmet kitchens & 3-car garages available
- Quick move-in options
- Community clubhouse, pool, fitness center, parks, sports courts & more
- Convenient access to notable schools, shopping & dining
- Daniel model home open for tours
TrailMark is located at 2443 TrailMark Drive in St. Augustine. Call 904.217.3381 or visit RichmondAmerican.com to learn more.
About M.D.C. Holdings, Inc.
M.D.C. Holdings, Inc. was founded in 1972. MDC’s homebuilding subsidiaries, which operate under the name Richmond American Homes, have helped more than 250,000 homebuyers achieve the American Dream since 1977. One of the largest homebuilders in the nation, MDC is committed to quality and value that is reflected in each home its subsidiaries build. The Richmond American companies have operations in Alabama, Arizona, California, Colorado, Florida, Idaho, Maryland, Nevada, New Mexico, Oregon, Tennessee, Texas, Utah, Virginia and Washington. Mortgage lending, insurance and title services are offered by the following MDC subsidiaries, respectively: HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company. For more information, visit MDCHoldings.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/new-phase-of-st-augustine-masterplan-open-for-sales-302300299.html
SOURCE M.D.C. Holdings, Inc.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
CUBI BREAKING NEWS: Customers Bancorp, Inc. Investors that Suffered Losses Are Encouraged to Contact Rosen Law About Ongoing Investigation into the Company (NYSE: CUBI)
NEW YORK, Nov. 08, 2024 (GLOBE NEWSWIRE) — Leading securities law firm Rosen Law Firm, a global investor rights law firm, continues to investigate Customers Bancorp, Inc. CUBI for potential violations of the federal securities laws.
If you invested in Customers Bancorp, you are encouraged to obtain additional information by visiting https://rosenlegal.com/case/customers-bancorp-inc/.
Why Did Customers Bancorp’s Stock Drop?
On August 8, 2024, during market hours, the Federal Reserve Board of Governors issued an announcement entitled “Federal Reserve Board issues enforcement action with Customers Bancorp, Inc. and Customers Bank.” Attached to the announcement was a written agreement between the Federal Reserve Bank of Philadelphia, Customers Bancorp, Inc., and Customers Bank. The agreement stated “the most recent examinations and inspection of [Customers Bancorp and Customers Bank] conducted by the Federal Reserve Bank of Philadelphia [. . .] identified significant deficiencies related to the Bank’s risk management practices and compliance with the applicable laws, rules, and regulations relating to anti-money laundering (“AML”), including the Bank Secrecy Act [. . .], including the rules and regulations issued thereunder by the U.S. Department of the Treasury [. . .], and the AML requirements of Regulation H of the Board of Governors [of the Federal Reserve System] [. . .]; and the regulations issued by the Office of Foreign Assets Control of the United States Department of the Treasury[.]”
On this news, Customers Bancorp’s stock fell $7.22 per share, or 13.3%, to close at $47.01 per share on August 8, 2024.
Click here for more information: https://rosenlegal.com/case/customers-bancorp-inc/.
What Can You Do?
If you invested in Customers Bancorp you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://rosenlegal.com/submit-form/?case_id=28067 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
Why Rosen Law Firm?
We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
For more information about RLF and its attorneys, please visit https://rosenlegal.com/.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
_______________________
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Official opening of 90 social and affordable housing units in Granby
GRANBY, QC, Nov. 8, 2024 /CNW/ – Today, the governments of Quebec and Canada and the City of Granby are proud to open Simonds, a building with 90 social and affordable housing units for individuals over 50 and people living with an intellectual disability or with autism spectrum disorder. The building cost over $22 million to construct and is an initiative of the Office d’habitation de la Haute-Yamaska-Rouville.
The event was attended by France-Élaine Duranceau, Quebec Minister Responsible for Housing; the Honourable Marie-Claude Bibeau, Minister of National Revenue and Member of Parliament for Compton–Stanstead; François Bonnardel, Quebec Minister of Public Security, Quebec Minister Responsible for the Estrie Region and Member of the National Assembly for Granby; Julie Bourdon, Mayor of Granby; and Robert Riel, Municipal Councillor and Chair of the Board of Directors of the Office d’habitation de la Haute-Yamaska-Rouville.
The Government of Quebec contributed more than $10.8 million through the Société d’habitation du Québec’s (SHQ’s) Programme d’habitation abordable Québec. The SHQ also secured the mortgage loan taken out by the Office d’habitation de la Haute-Yamaska-Rouville through the SHQ’s Programme de financement en habitation.
The Government of Canada contributed nearly $6 million to the project through the third Canada-Quebec Rapid Housing Initiative Agreement.
The City of Granby contributed more than $1.8 million to the Office d’habitation de la Haute-Yamaska-Rouville, in addition to donating the land, worth $2.5 million.
Quotes:
“I am very proud to highlight our government’s contribution to the construction of this building with 90 social and affordable housing units through the Programme d’habitation abordable Québec. I applaud this initiative by the Office d’habitation de la Haute-Yamaska-Rouville and its partners, which will help low-income individuals benefit from affordable housing. We will continue to work on all fronts and on all solutions to ensure that every Quebecer has a home that meets their needs.”
France-Élaine Duranceau, Quebec Minister Responsible for Housing
“The federal government will continue to work hard toward ensuring that everyone in Quebec and across Canada has a safe and stable place to call home. We’re quickly providing new affordable housing to those who need it most across the country, thanks to the third Canada-Quebec Rapid Housing Initiative Agreement and collaboration from all levels of government.”
The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
“This social and affordable housing project shows our desire to find solutions that provide more living spaces in the Granby area. This is a beautiful example of a social mix that meets a great need in the area and helps improve citizens’ quality of life.”
François Bonnardel, Quebec Minister of Public Security, Quebec Minister Responsible for the Estrie Region, and Member of the National Assembly for Granby
“In Granby, as elsewhere in Canada, access to affordable housing is crucial to the stability of many people. Today’s announcement is a real example of the positive impact of federal investments in Quebec’s housing sector.”
The Honourable Marie-Claude Bibeau, Minister of National Revenue and Member of Parliament for Compton–Stanstead
“The official opening of the Simonds building is an important step in our commitment to ensuring access to affordable housing adapted to the needs of the most vulnerable members of our community. This project will meet Granby’s housing needs. Thanks to the collaboration between the various levels of government and our local partners, whom I want to thank, we’re building an inclusive and supportive living environment together.”
Julie Bourdon, Mayor of Granby
“This project is more than just a building. It embodies our collective commitment to the right to housing for all. At a time when the need for affordable housing has never been greater, this building symbolizes hope and inclusion. It addresses a fundamental issue in our society: ensuring that every individual has a home.”
Robert Riel, Chair of the Board, Office d’habitation de la Haute-Yamaska-Rouville
Highlights:
- Up to 45 of the 90 households in the building could be eligible for the Société d’habitation du Québec’s (SHQ) Rent Supplement Program, ensuring that they spend no more than 25% of their income on housing. This additional assistance is covered by the SHQ (90%) and the City of Granby (10%).
About the Société d’habitation du Québec
As a leader in housing, the SHQ’s mission is to meet the housing needs of Quebecers through its expertise and services to citizens. It does this by providing affordable and low-rental housing and offering a range of assistance programs to support the construction, renovation and adaptation of homes, and access to homeownership.
To find out more about its activities, visit www.habitation.gouv.qc.ca/english.html.
Facebook: SocietehabitationQuebec
Twitter: HabitationSHQ
LinkedIn
About Canada Mortgage and Housing Corporation
Visit canada.ca/housing for the most requested Government of Canada housing information.
As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that everyone in Canada has a home they can afford, and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
SOURCE Canada Mortgage and Housing Corporation (CMHC)
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2024/08/c9872.html
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
V BREAKING NEWS: Visa Inc. Investors that Suffered Losses are Encouraged to Contact Rosen Law about Ongoing Investigation into the Company – V
NEW YORK, Nov. 08, 2024 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, continues to investigate Visa Inc. V for potential violations of the federal securities laws.
If you invested in Visa, you are encouraged to obtain additional information by visiting https://rosenlegal.com/case/visa-inc/.
Why did Visa’s Stock Drop?
On September 24, 2024, during market hours, the United States Department of Justice issued a release entitled “Justice Department Sues Visa for Monopolizing Debit Markets.” In this release, the DOJ announced that it had “filed a civil antitrust lawsuit today against Visa for monopolization and other unlawful conduct in debit network markets[.]” The release further stated the “complaint alleges that Visa illegally maintains a monopoly over debit network markets by using its dominance to thwart the growth of its existing competitors and prevent others from developing new and innovative alternatives.”
The release quoted Attorney General Merrick Garland as stating “[w]e allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market[.] Merchants and banks pass along those costs to consumers, either by raising prices or reducing quality or service. As a result, Visa’s unlawful conduct affects not just the price of one thing – but the price of nearly everything.”
On this news, Visa’s stock fell 5.4% on September 24, 2024.
Click here for more information: https://rosenlegal.com/case/visa-inc/.
What Can You Do?
If you invested in Visa you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.
Submit your information by visiting:
https://rosenlegal.com/submit-form/?case_id=29131 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
Why Rosen Law Firm?
We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
For more information about RLF and its attorneys, please visit https://rosenlegal.com/.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
——————————-
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com
Market News and Data brought to you by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Desjardins Affordable Housing Initiative – 60 affordable housing units for families to be built in Trois Rivières through an innovative partnership
TROIS-RIVIÈRES, QC, Nov. 8, 2024 /CNW/ – The governments of Quebec and Canada, together with Desjardins, the City of Trois-Rivières and Accès Logement Mauricie, have announced the construction of 60 affordable housing units in five buildings, for families or people living alone. The housing project, called the Ste-Madeleine residences, will be located on Sainte-Madeleine Boulevard and on Du Sanctuaire Street, in Trois-Rivières.
The project is part of the Desjardins Affordable Housing Initiative, an innovative partnership between the Government of Quebec and Desjardins for the rapid creation of 1,750 affordable housing units, as well as the Government of Canada’s Affordable Housing Innovation Fund.
Sonia Lebel, Quebec Minister Responsible for Government Administration and Chair of the Conseil du trésor, made the announcement on behalf of France-Élaine Duranceau, Quebec Minister Responsible for Housing. She was joined by the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry and Member of Parliament for Saint-Maurice–Champlain, Jean Lamarche, Mayor of the City of Trois-Rivières, Jean-Yves Bourgeois, Executive Vice-President of Desjardins’ Business Services Group, and many community partners.
The financial package of just over $20 million includes investments of $10.5 million from the Government of Quebec, $600,000 from the Government of Canada and $1.4 million from the City of Trois-Rivières. Desjardins is adding close to $6.9 million in mortgage funding and $931,000 in patient capital. Accès Logement Mauricie will eventually take over management and maintenance of the project.
In collaboration with Habitations Populaires du Québec and Accès Logement Mauricie, the Ste-Madeleine residences will welcome its first tenants in winter 2025. The project will include 30 one-bedroom units and 30 two-bedroom units. The monthly rent will be set at $719 for a one-bedroom unit and $920 for a two-bedroom unit.
About the Desjardins Affordable Housing Initiative
In 2022, the Government of Quebec entrusted Desjardins with $175 million for the creation of 1,000 new social and affordable housing units. Projects would be spread over 14 Quebec regions and be delivered by the end of 2025. Desjardins would then make available $150 million in financing and patient capital to project developers with the support of Capital régional et coopératif Desjardins. Project developers committed to keeping the units affordable for up to 35 years.
With its dedicated team and extensive network of caisses, as well as the expertise of the Caisse d’économie solidaire, Desjardins quickly exceeded its targets. It brought in non-profit organizations, housing co-operatives and municipalities. Now it’s on track to make over 1,500 affordable housing units available by the end of 2025.
In view of these results, in December 2023, Quebec added $43.75 million to the amount originally awarded to Desjardins, to create 250 additional affordable housing units. In all, Desjardins will make more than 1,750 affordable housing units available in three years.
Quotes:
“I’ve often said that we need to innovate to build more and better housing, especially given the current housing crisis. This collaboration with Desjardins is further proof that our government is taking concrete action alongside municipalities and housing organizations, to better house Quebecers with low or moderate incomes. I’m excited about this partnership with Desjardins, which mobilizes stakeholder expertise to very quickly build quality affordable housing. We’re determined to deliver results with this partnership, and the success of the Ste-Madeleine residences is a great example of that!”
France-Élaine Duranceau, Quebec Minister Responsible for Housing
“We’re determined to ensure that everyone has a safe place to call home. I’m proud that we could support this project through the Affordable Housing Innovation Fund, in collaboration with the Government of Quebec, the City of Trois-Rivières and Desjardins. This demonstrates our unwavering commitment to ensuring that no one is left behind.”
The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities
“Getting funding for the Ste-Madeleine residences housing project means we can continue working to keep housing affordable in my home region of Mauricie. This initiative by Habitations populaires du Québec and Accès Logement Mauricie also shows the value of staying agile and joining forces to deliver solutions for our community. Congratulations to all the partners!”
Sonia Lebel, Quebec Minister Responsible for Government Administration, Chair of the Conseil du trésor and Member of the National Assembly for Champlain
“Everyone deserves a safe and affordable place to call home. Through the Affordable Housing Innovation Fund, we’re building affordable housing, quickly, for those who need it most throughout the country. Thanks to the project announced today, 60 affordable housing units will soon be available to the people of Trois-Rivières.”
The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry and Member of Parliament for Saint-Maurice–Champlain
“In addition to offering a 20-year tax credit, the City of Trois-Rivières is supporting the first phase of this project by investing $1.4 million through its Program to Support the Development of Affordable Housing. The Ste-Madeleine residences will play a key role in the revitalization of the Bas-du-Cap sector, providing a healthy living environment, accessible housing and a stronger sense of belonging within our Trois-Rivières community. I would like to underline the excellent collaboration of the partners involved in this project, which will enable the former site of the Sainte-Madeleine church to regain a significant social vocation.”
Jean Lamarche, Mayor of Trois-Rivières
“At Desjardins, we are deeply convinced that access to housing for all is a fundamental pillar in building strong, resilient communities. The Ste-Madeleine residences project is a perfect illustration of our ability to create innovative and sustainable solutions for our communities. By working closely with local governments and organizations, we bring not only financial resources, but also our expertise and commitment to collective well-being. This project is a testament to our ability to turn challenges into opportunities, offering quality housing to those who need it most.”
Guy Cormier, President and CEO, Desjardins Group
“We’re happy to do our bit to help house our local community. Once again, when all the players come together and work in concert, great things can be achieved. This project is a typical example of this concerted effort on the part of governments and the business community alike, since it has been completed in record time. We’re developing not just housing units, but a living environment that will serve our community for generations to come. Let’s breathe new life into a religious site through this partnership.”
Guy Gagnon, President, Accès Logement Mauricie
Highlights:
- Habitations Populaires du Québec is a non-profit organization (NPO) founded in 1978 thanks to the financial participation of five Desjardins caisses in the City of Trois-Rivières. This NPO acts as a community real estate owner, developer and manager. Its real estate portfolio includes 160 projects totalling more than 4,500 social and affordable housing units, and it has nearly 2,000 units under management. It owns more than 800 units through its affiliated NPO.
- Accès Logement Mauricie is an NPO affiliated with Habitations Populaires du Québec whose mission is to house low- and moderate-income households. A contract will be awarded to Habitations populaires Québec for management, maintenance and rental services.
- CMHC’s Affordable Housing Innovation Fund (AHIF) will promote innovation and growth in the affordable housing sector by encouraging the development of new funding models and construction techniques.
- The Fund’s objective is to support innovative funding models and unique designs to make housing more affordable and reduce the costs and risks associated with affordable housing projects.
About the Société d’habitation du Québec
As a leader in housing, the SHQ’s mission is to meet the housing needs of Quebecers through its expertise and services to citizens. It does this by providing affordable and low-rental housing and offering a range of assistance programs to support the construction, renovation and adaptation of homes, and access to homeownership.
To find out more about its activities, visit www.habitation.gouv.qc.ca/english.html.
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About Canada Mortgage and Housing Corporation
About Canada Mortgage and Housing Corporation
Visit canada.ca/housing for the most requested Government of Canada housing information.
As Canada’s authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers unbiased housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s aim is that everyone in Canada has a home they can afford, and that meets their needs. For more information, follow us on Twitter, Instagram, YouTube, LinkedIn and Facebook.
SOURCE Government of Canada
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