Insights > Deals
Canada announces C$27 million student housing loan for UTILE in Montreal
22 October 2026 | Loan | Canada | 95 units | Operational
Federal loan support has been announced as UTILE officially opens Saint‑Patrick, a non‑profit rental residence serving Concordia University students.
Key details
Asset type | Operational |
Location | Montreal, Canada |
Capacity | 147 units |
Borrower | UTILE |
Lender | Canada Mortgage and Housing Corporation |
Value | C$27 million |
The Saint‑Patrick residence is a 95-apartment, 208‑room residence providing non‑profit student housing, with members of the Concordia Student Union (CSU) receiving priority access. Within the residence, a dedicated transitional program provides temporary accommodation for six students facing housing insecurity.
Federal support is provided through the Apartment Construction Loan Program as a $27 million repayable loan, supporting UTILE’s non‑profit rental housing model.
Strategic context
Saint‑Patrick marks UTILE’s seventh completed project, expanding its Quebec portfolio that already offers more than 1,000 non‑profit rental units. With an organizational goal of reaching 3,700 units by 2030, this opening represents a key milestone in an established development pipeline.
Combining federal debt with a student union partnership supports an affordability‑led model in which student demand informs housing allocation without changing the ownership structure of the non‑profit provider.
SUBSCRIBE TO STUDENT HOUSING INSIDER
Stay close to the student housing market
Subscribe to Student Housing Insider for a weekly update on student housing transactions, development pipeline, market trends and selected BONARD analysis.
Designed for investors, developers, operators, lenders and market participants tracking the student housing sector.