With federal support, N.B. could see greater growth in housing co-ops
National funding program already over-subscribed with shovel-ready projects
A “small but mighty” part of New Brunswick’s housing makeup is poised to grow in the coming years, as three new housing co-operatives finalize plans to build about 200 new units in the province.
Tim Ross, director of the Co-operative Housing Federation of Canada, said three new projects — in Fredericton, Sackville and an as-yet-unreleased location in the north — represent a resurgence in co-op development, which previously had flourished before the federal government’s withdrawal from housing programs in the early 1990s.
“Governments are now in catch-up mode,” said Ross, citing new funding programs aimed at growing affordable housing, including co-ops.
Housing co-ops are affordable by design, Ross said. A study commissioned by the federation found that in 2021, co-op apartments were between $400 and $500 less per month than private rentals.
There are three key reasons for the gap, Ross said.
Co-ops “operate on an economic break-even basis” as non-profits, most have access to grants or low-cost public borrowing, and they are not subject to the whims of the housing market, he said.
Figure from The Co-op Difference, a July 2022 report by Greg Suttor, Chidom Otogwu and Nick Falvo comparing co-op and market rents in five Canadian cities. (Co-operative Housing Federation of Canada)
“Co-ops are not being bought and sold on a regular basis,” he said, so they are removed from the speculative market that has helped drive up private housing prices.
“And that's so important right now, because we're losing affordable housing in Canada at an alarming rate.”
According to the Canada Mortgage and Housing Corporation’s Rental Market Survey, average rents in New Brunswick increased from $812 in 2019 to $1,229 in 2024, a jump of about 51 per cent over the five-year period.
Fredericton, Sackville co-ops in works
The baked-in affordability of a housing co-op is something Janet Flowers is hoping to bring to new households in Fredericton.
Flowers was the city’s first affordable housing development co-ordinator and is now president of the New Brunswick Collaborative Housing Co-operative.
The group’s first project is a 97-unit building on Brown Boulevard on Fredericton’s north side. It will include a mix of one, two and three-bedroom units with common indoor and outdoor space. The site is already zoned appropriately, said Flowers, and if funding falls into place, could start construction as early as next June.
The plan is for some of the units to be subsidized by the provincial and federal governments so tenants would pay no more than 30 per cent of their income. The other units are expected to be at market rent or less.
A new housing co-op is also being planned on the outskirts of Sackville.
The Freshwinds Eco-Village Housing Co-operative plans to build 68 units in small buildings and townhouses in a village-style cluster off Fairfield Road.
Up to 20 of the units will be subsidized, while the others will start off closer to market rates for the region.
Freshwinds co-chair Sabine Dietz said that within two years “you'll see the difference in affordability” for those units as market rents continue to rise and Freshwinds housing charges remain flat.
'A co-op is a community'
John Bourque of Moncton has lived at the Maple Grove Co-operative for 44 years. He is vice-president of the co-op, and said participation by its members is what keeps the housing costs low.
3-bedroom unit for under $1,000 a month? How co-op housing worksAt Maple Grove, Bourque said, a three-bedroom townhouse costs "well below $1,000" a month, and the waiting list is between five and 10 years.
Members of a non-profit housing co-op don’t own their units individually and cannot sell them. If a non-profit co-op dissolves, its assets must go to another co-op with similar goals. Members have security of tenure and are responsible for making decisions about how the co-op runs.
"A co-op is a community," Bourque said.
Public funding key to new co-op projects
Dietz said Freshwinds could start construction within six months of funding approval from the federal Co-op Housing Development Program, a $1.5 billion fund offering grants and loans to new co-op housing projects.
The Sackville co-op has already bought the land for its project and received a conditional $1.6 million funding commitment from New Brunswick Housing Corp. The province has also committed to subsidize rents for some units.
But the project needs federal funding to proceed.
Freshwinds first applied unsuccessfully in 2024 and is now awaiting word on its second-round application requesting $22 million in grants and loans.
Flowers said investment from all levels of government is critical to the Fredericton project moving ahead.
The city donated the land for the project, and the province has already provided pre-development funding. The co-op is planning to apply for federal dollars as soon as drawings are complete.
‘Overwhelming’ demand for federal funding
So far, the federal fund has approved $423 million for eight projects in Canada, and another round of funding announcements is expected this month.
Ross said the demand so far has been “overwhelming.”
The housing federation helped design the federal funding program, which he said is already over-subscribed with qualified projects.
“It's not just a group sitting around a table thinking that they'd like to create a co-op,” Ross said. “It's groups that have spent millions of dollars on feasibility and pre-development work to get shovel-ready.”
Ross is also anxious to find out more about Build Canada Homes, the newly minted federal agency that promises low-cost financing for “non-market and Indigenous housing providers”.
“We are actively seeking and pursuing solutions to get all viable projects built,” Ross said, “because we can't afford to lose these opportunities when we're in a housing crisis.”
ABOUT THE AUTHOR
Pomerleau Inc.
A Canadian leader in the construction industry. At the forefront of innovation, we work in a committed, collaborative and sustainable way to build the living environments of tomorrow.
Investing in the Communities of Tomorrow
Pomerleau Capital is focused on the future by investing in the now. Pomerleau Capital invests, develops, and manages infrastructure assets in Canada and the USA. Keeping the well-being of our communities at heart, Pomerleau Capital launched an open-ended fund, PCap Infrastructure and Renewables Fund, to invest in lower-risk infrastructure projects across Social and Civil Infrastructure, Renewable Energy, and Real Estate platforms.
Pomerleau Capital offers a unique, “one-stop shop” proposition to both public (i.e. public-private-partnership projects) and private clients by financing, investing, building, operating, and managing assets. To date, the team has raised financing for over $2 billion worth of projects, with over $700 million in assets management.
Generating Long-Term Value Through Real Assets and Partnerships
Pomerleau Capital develops and invests in projects of socio-economic significance. Our goal is to create a positive and lasting impact in communities and future generations. The fund applies a long-term approach to our investment strategy by upholding Pomerleau’s values. Pomerleau Capital is committed to optimizing project development and building trust between partners and clients in a collaborative environment. The financial and social investments made within each project are representative of these goals, from start to finish.
- Long term approach.
- Commitment from beginning to end – efficiency and trust.
- Partnerships.
Our Team has the Expertise Required to Provide a Complete Turnkey Solution
Pomerleau Capital is home to a team of versatile professionals who have experience in meeting investor objectives and client needs. Our team of investment and asset management professionals specialize in contract negotiation, debt and equity financing, and short and long-term asset management functions. Their solutions are reflective of their knowledge and dedication to each project.
For more information, please contact us.
Our Leadership Team
Philippe Adam
President and Chief Executive Officer
FCPA, CA, CBV
In 2023, Philippe Adam was named President and Chief Executive Officer (CEO) of Pomerleau, one of Canada’s most prominent construction companies, to lead its growth coast-to-coast. Prior to that, Philippe held the positions of Executive Vice President and Chief Financial Officer (CFO), and was President of Pomerleau Capital, our capital arm focusing on infrastructure investment and financing. Since his arrival at Pomerleau, the company’s revenues have increased from $2.5 billion to more than $6 billion.
As President and CEO, Philippe launched an ambitious 5-year strategic plan centred around Pomerleau's unique and amazing culture that would see the company build projects that address challenges such as the energy and climate transition, and growing needs in housing, health, education, defense, and transportation sectors.
Philippe is committed to improving the construction industry. He is engaged in transforming the perception of Canadians about the industry and is encouraging a new generation of builders to join it and improve communities across the country. As a member of the Canadian Construction Safety Council, Philippe works with other industry leaders to enhance the physical and mental health of construction workers everywhere.
In his previous role as CFO, Philippe spearheaded two of the largest transactions in Pomerleau’s history, including the acquisition of Vancouver-based ITC Construction Group and La Caisse’s $150 million investment in Pomerleau. He also established the company's first investment fund, which now totals near $250 million, to invest in infrastructure, renewable energy, and housing projects. One of Philippe’s proudest achievements has been to open Pomerleau’s shareholding to all employees, which was launched in 2023.
Prior to joining Pomerleau, Philippe worked as a CFO of both publicly listed and private companies. He worked in private equity for several years at Champlain Financial Corporation, and also gained deep financial and strategic expertise at Deloitte and as an investment banker at National Bank Financial. With over 20 years of experience in operations, corporate finance, and business strategy, Philippe has helped to grow companies at a fast-pace across the country and internationally through countless strategic transactions, including mergers and acquisitions, and cross-border operations.
Philippe sits on the board of the Douglas Foundation and is involved in several health-related and cultural philanthropic initiatives. He recently chaired the Montreal hospital grand banquet and the ball of the Montreal Contemporary Art Museum. He also serves as a board member of Pomerleau and for Pomerleau's subsidiaries, Borea Construction and ITC Construction Group. Philippe is active in several associations, including the Young Presidents' Organization, the Cercle des Présidents du Québec, and the Business Council of Canada.
Philippe earned a Bachelor of Commerce at Laval University and a Graduate Diploma in Accounting from HEC Montréal. He is a member of the Canadian Institute of Chartered Professional Accountants (CPA, CA) and holds the designation of Chartered Business Valuator (CBV), for which he was the Canadian gold medalist in 2009. In 2025, he was named a Fellow (FCPA) by the Order of CPAs of Quebec. He also earned a spot on the 2025 edition of Construction’s Most Influential People according to the trade magazine SiteNews.
Pomerleau value he identifies with the most: Authenticity
Sophie Morin
Executive Vice-President and Chief Legal Officer
Sophie Morin is the Executive Vice-President and Chief Legal Officer of Pomerleau.
She is responsible for overseeing the contractual, litigation and project management divisions of Pomerleau's business units, as well as leading the ethics and compliance and governance teams.
Sophie has developed cutting-edge expertise in the construction industry, particularly in managing agreements for major infrastructure projects. She is recognized both internally and by our partners and clients for her sound advice and global vision. Sophie knows how to establish a unique bond of trust with others and possesses a natural empathy that enables her to put herself in other people’s shoes. She has an impeccable eye for finding beneficial solutions.
Since joining Pomerleau, she has been involved in the development and conclusion of numerous contracts, including the deconstruction of the Champlain bridge and contracts for projects carried out in alternative modes involving project financing. She is also responsible for the legal oversight of the major rehabilitation project, Louis-Hippolyte-La Fontaine bridge-tunnel, a project worth over a billion dollars.
Sophie holds a bachelor's degree in law from the Université de Montréal. She began her career in 2005 in a law firm. Four years later, she entered the corporate world and worked on the Autoroute 30 project. After a brief stint at CDPQ Infra, Sophie continued her career in the infrastructure field at Dragados from 2016 to 2018, during which time she was responsible for the legal and contractual aspects of the new Samuel-De-Champlain bridge. She joined Pomerleau in 2018 as senior legal counsel. She was quickly promoted to director and then vice-president- legal affairs and operations, before becoming executive vice-president and chief legal officer in 2024.
Sophie is involved in mentoring young law students and lawyers at the start of their careers.
The Pomerleau value Sophie identifies with the most: Love
The Honourable Lisa Raitt, P.C.
Special Advisor
The Honourable Lisa Raitt joined CIBC Capital Markets in January 2020, having previously worked in both the public and private sectors. Lisa’s current focus is on senior client coverage and business development with clients in the energy, infrastructure and industrial sectors, which align closely with her expertise.
Prior to her current role, Lisa was the President and CEO of the Toronto Port Authority. She was elected into the House of Commons in 2008, where she held three senior portfolios serving as Minister of Natural Resources, Minister of Labour, and Minister of Transport. Most recently, Lisa was the Deputy Leader of the Official Opposition and the Conservative Party of Canada.
Lisa holds a Bachelor of Science degree from St. Francis Xavier University and a master’s degree in Chemistry from the University of Guelph. She possesses an LL.B from Osgoode Hall Law School and was called to the Ontario bar in 1998. In 2020 Lisa was named a Woodrow Wilson Center Global Fellow of the Canada Institute.
https://www.youtube.com/watch?v=pqd6Q3dQEDU
The Honourable Michael M. Fortier, P.C.
Lead Director
Since October 2010, Mr. Fortier is Vice Chairman, RBC Capital Markets. Prior to joining the Royal Bank of Canada, he had been active principally in the fields of banking, politics and law.
Over the past 35 years, Mr. Fortier has worked as a senior relationship banker for several Wall Street (Morgan Stanley, Credit Suisse) and Canadian (TD Securities) investment banking firms and worked in Canada and the UK for one of the leading Canadian law firms (Norton Rose).
Between 2006 and 2008, Mr. Fortier served as Canada's Minister of Public Works and Minister of International Trade. Throughout this period, he also acted as the Minister responsible for Greater Montreal. Mr. Fortier also chaired Prime Minister Stephen Harper's Conservative Party leadership campaign in 2004 and the Party's 2004 and 2006 federal election campaigns.
Mr. Fortier sits on the board of Pomerleau. He also served from 2012 to 2015 as a member of United Technologies’ International Advisory Council and from 2010 to 2023 on the board of CAE. He is active with many philanthropic organizations, having served as Chairman of Ste Justine Hospital’s Foundation between 2012 and 2018 and Co-Chaired Centraide of Greater Montreal’s 2020 campaign. He has also accepted numerous pro bono assignments from governments, notably negotiating the return of Formula One racing to Canada.
Mr. Fortier has six children and lives in Montreal with his wife Michelle Setlakwe (a Member of the National Assembly of Quebec representing the riding of Mount Royal-Outremont).
Michelle Setlakwe is a Canadian politician, who was elected to the National Assembly of Quebec in the 2022 Quebec general election. She represents the riding of Mont-Royal–Outremont as a member of the Quebec Liberal Party.[1]
As of September 7, 2024, she serves as the opposition critic for Municipal Affairs, Access to Information and Privacy, Cybersecurity and Digital Technologies, and Chaudière-Appalaches.
She is the niece (https://gamachenadeau.ca/fr/avis/fiche/+raymond-c-setlakwe ) of former Canadian senator Raymond Setlakwe,[2] and is married to former senator and federal cabinet minister Michael Fortier.
https://www.assnat.qc.ca/fr/deputes/index.html
Députés
L'Assemblée nationale est composée de 125 personnes : chacune est élue dans une circonscription électorale selon le mode de scrutin majoritaire uninominal à un tour. Les dernières élections générales ont eu lieu le 3 octobre 2022.
Depuis le 22 novembre 2025, la composition de l'Assemblée est la suivante :
- Coalition avenir Québec : 81 députés
- Parti libéral du Québec : 20 députés
- Québec solidaire : 11 députés
- Parti québécois : 6 députés
- Indépendants : 6 députés
- Vacant : 1 (Chicoutimi)
Coordonnées du bureau de la circonscription de Chicoutimi
Pour consulter la fiche biographique d'un député, cliquer sur son nom dans la liste des députés en fonction.
Pour en savoir plus sur :
Cercle des ex-parlementaires de l’Assemblée nationale du Québec
Cette association regroupe les anciens députés de l’Assemblée nationale. Elle fait la promotion des institutions parlementaires du Québec et diffuse de l’information sur le parlementarisme.
Consulter le site du Cercle des ex-parlementaires de l’Assemblée nationale du Québec.
Liste des députés en fonction
| Nom | Circonscription | Allégeance politique | Courriel |
|---|---|---|---|
| Abou-Khalil, Alice | Fabre | Coalition avenir Québec | |
| Allaire, Simon | Maskinongé | Coalition avenir Québec | |
| Arseneau, Joël | Îles-de-la-Madeleine | Parti québécois | |
| Asselin, Mario | Vanier-Les Rivières | Coalition avenir Québec | |
| Bachand, André | Richmond | Coalition avenir Québec | |
| Beauchemin, Frédéric | Marguerite-Bourgeoys | Parti libéral du Québec | |
| Bélanger, Gilles | Orford | Coalition avenir Québec | |
| Bélanger, Sonia | Prévost | Coalition avenir Québec | |
| Benjamin, Frantz | Viau | Parti libéral du Québec | |
| Bernard, Daniel | Rouyn-Noranda–Témiscamingue | Coalition avenir Québec | |
| Bérubé, Pascal | Matane-Matapédia | Parti québécois | |
| Biron, Martine | Chutes-de-la-Chaudière | Coalition avenir Québec | |
| Blais, Suzanne | Abitibi-Ouest | Coalition avenir Québec | |
| Blanchette Vézina, Maïté | Rimouski | Indépendante | |
| Blouin, Catherine | Bonaventure | Coalition avenir Québec | |
| Bogemans, Audrey | Iberville | Coalition avenir Québec | |
| Boissonneault, Alex | Arthabaska | Parti québécois | |
| Boivin Roy, Karine | Anjou–Louis-Riel | Coalition avenir Québec | |
| Bonnardel, François | Granby | Coalition avenir Québec | |
| Bouazzi, Haroun | Maurice-Richard | Québec solidaire | |
| Boulet, Jean | Trois-Rivières | Coalition avenir Québec | |
| Bourassa, Kariane | Charlevoix–Côte-de-Beaupré | Coalition avenir Québec | |
| Bussière, Robert | Gatineau | Coalition avenir Québec | |
| Cadet, Madwa-Nika | Bourassa-Sauvé | Parti libéral du Québec | |
| Caire, Éric | La Peltrie | Coalition avenir Québec | |
| Carmant, Lionel | Taillon | Indépendant | |
| Caron, Linda | La Pinière | Parti libéral du Québec | |
| Caron, Vincent | Portneuf | Coalition avenir Québec | |
| Champagne Jourdain, Kateri | Duplessis | Coalition avenir Québec | |
| Charest, Isabelle | Brome-Missisquoi | Coalition avenir Québec | |
| Charette, Benoit | Deux-Montagnes | Coalition avenir Québec | |
| Chassin, Youri | Saint-Jérôme | Indépendant | |
| Ciccone, Enrico | Marquette | Parti libéral du Québec | |
| Cliche-Rivard, Guillaume | Saint-Henri–Sainte-Anne | Québec solidaire | |
| D'Amours, Sylvie | Mirabel | Coalition avenir Québec | |
| Derraji, Monsef | Nelligan | Parti libéral du Québec | |
| Déry, Pascale | Repentigny | Coalition avenir Québec | |
| Dionne, Amélie | Rivière-du-Loup–Témiscouata | Coalition avenir Québec | |
| Dorismond, Shirley | Marie-Victorin | Coalition avenir Québec | |
| Drainville, Bernard | Lévis | Coalition avenir Québec | |
| Dubé, Christian | La Prairie | Coalition avenir Québec | |
| Dufour, Pierre | Abitibi-Est | Indépendant | |
| Dufour, Virginie | Mille-Îles | Parti libéral du Québec | |
| Duranceau, France-Élaine | Bertrand | Coalition avenir Québec | |
| Émond, Jean-Bernard | Richelieu | Coalition avenir Québec | |
| Fontecilla, Andrés | Laurier-Dorion | Québec solidaire | |
| Fortin, André | Pontiac | Parti libéral du Québec | |
| Fréchette, Christine | Sanguinet | Coalition avenir Québec | |
| Gagnon, Yannick | Jonquière | Coalition avenir Québec | |
| Garceau, Brigitte B. | Robert-Baldwin | Parti libéral du Québec | |
| Gendron, Marie-Belle | Châteauguay | Coalition avenir Québec | |
| Gentilcore, Catherine | Terrebonne | Parti québécois | |
| Ghazal, Ruba | Mercier | Québec solidaire | |
| Girard, Eric | Groulx | Coalition avenir Québec | |
| Girard, Éric | Lac-Saint-Jean | Coalition avenir Québec | |
| Grandmont, Etienne | Taschereau | Québec solidaire | |
| Grondin, Agnès | Argenteuil | Coalition avenir Québec | |
| Guilbault, Geneviève | Louis-Hébert | Coalition avenir Québec | |
| Guillemette, Nancy | Roberval | Coalition avenir Québec | |
| Haytayan, Céline | Laval-des-Rapides | Coalition avenir Québec | |
| Hébert, Geneviève | Saint-François | Coalition avenir Québec | |
| Jacques, François | Mégantic | Coalition avenir Québec | |
| Jeannotte, Chantale | Labelle | Coalition avenir Québec | |
| Jolin-Barrette, Simon | Borduas | Coalition avenir Québec | |
| Julien, Jonatan | Charlesbourg | Coalition avenir Québec | |
| Kelley, Gregory | Jacques-Cartier | Parti libéral du Québec | |
| Labrie, Christine | Sherbrooke | Québec solidaire | |
| Lachance, Stéphanie | Bellechasse | Coalition avenir Québec | |
| Lacombe, Mathieu | Papineau | Coalition avenir Québec | |
| Laframboise, Mario | Blainville | Coalition avenir Québec | |
| Lafrenière, Ian | Vachon | Coalition avenir Québec | |
| Lakhoyan Olivier, Sona | Chomedey | Parti libéral du Québec | |
| Lamontagne, André | Johnson | Coalition avenir Québec | |
| Lamothe, Denis | Ungava | Coalition avenir Québec | |
| LeBel, Sonia | Champlain | Coalition avenir Québec | |
| Lecours, Isabelle | Lotbinière-Frontenac | Coalition avenir Québec | |
| Lecours, Lucie | Les Plaines | Coalition avenir Québec | |
| Leduc, Alexandre | Hochelaga-Maisonneuve | Québec solidaire | |
| Legault, François | L'Assomption | Coalition avenir Québec | |
| Lemay, Mathieu | Masson | Coalition avenir Québec | |
| Lemieux, Louis | Saint-Jean | Coalition avenir Québec | |
| Lévesque, Mathieu | Chapleau | Coalition avenir Québec | |
| Lévesque, Sylvain | Chauveau | Coalition avenir Québec | |
| Maccarone, Jennifer | Westmount–Saint-Louis | Parti libéral du Québec | |
| Mallette, Carole | Huntingdon | Coalition avenir Québec | |
| Marissal, Vincent | Rosemont | Indépendant | |
| Martel, Donald | Nicolet-Bécancour | Coalition avenir Québec | |
| Massé, Manon | Sainte-Marie–Saint-Jacques | Québec solidaire | |
| McGraw, Désirée | Notre-Dame-de-Grâce | Parti libéral du Québec | |
| Montigny, Yves | René-Lévesque | Coalition avenir Québec | |
| Morin, André Albert | Acadie | Parti libéral du Québec | |
| Nadeau-Dubois, Gabriel | Gouin | Québec solidaire | |
| Nichols, Marie-Claude | Vaudreuil | Parti libéral du Québec | |
| Paradis, Pascal | Jean-Talon | Parti québécois | |
| Picard, Marilyne | Soulanges | Coalition avenir Québec | |
| Poulet, Isabelle | Laporte | Indépendante | |
| Poulin, Samuel | Beauce-Sud | Coalition avenir Québec | |
| Prass, Elisabeth | D'Arcy-McGee | Parti libéral du Québec | |
| Proulx, Caroline | Berthier | Coalition avenir Québec | |
| Provençal, Luc | Beauce-Nord | Coalition avenir Québec | |
| Reid, Claude | Beauharnois | Coalition avenir Québec | |
| Rivest, Mathieu | Côte-du-Sud | Coalition avenir Québec | |
| Rizqy, Marwah | Saint-Laurent | Parti libéral du Québec | |
| Roberge, Jean-François | Chambly | Coalition avenir Québec | |
| Rotiroti, Filomena | Jeanne-Mance–Viger | Parti libéral du Québec | |
| Rouleau, Chantal | Pointe-aux-Trembles | Coalition avenir Québec | |
| Roy, Nathalie | Montarville | Coalition avenir Québec | |
| Roy, Suzanne | Verchères | Coalition avenir Québec | |
| Sainte-Croix, Stéphane | Gaspé | Coalition avenir Québec | |
| Schmaltz, Valérie | Vimont | Coalition avenir Québec | |
| Schneeberger, Sébastien | Drummond–Bois-Francs | Coalition avenir Québec | |
| Setlakwe, Michelle | Mont-Royal–Outremont | Parti libéral du Québec | |
| Simard, Jean-François | Montmorency | Coalition avenir Québec | |
| Skeete, Christopher | Sainte-Rose | Coalition avenir Québec | |
| Soucy, Chantal | Saint-Hyacinthe | Coalition avenir Québec | |
| St-Louis, François | Joliette | Coalition avenir Québec | |
| St-Pierre Plamondon, Paul | Camille-Laurin | Parti québécois | |
| Tanguay, Marc | LaFontaine | Parti libéral du Québec | |
| Tardif, Marie-Louise | Laviolette–Saint-Maurice | Coalition avenir Québec | |
| Thouin, Louis-Charles | Rousseau | Coalition avenir Québec | |
| Tremblay, François | Dubuc | Coalition avenir Québec | |
| Tremblay, Suzanne | Hull | Coalition avenir Québec | |
| Zaga Mendez, Alejandra | Verdun | Québec solidaire | |
| Zanetti, Sol | Jean-Lesage | Québec solidaire |
With every community, we redefine what's possible.
Stantec empowers clients, people, and communities to rise to the world’s greatest challenges at a time when the world faces more unprecedented concerns than ever before.
We are a global leader in sustainable engineering, architecture, and environmental consulting. Our professionals deliver the expertise, technology, and innovation communities need to manage aging infrastructure, demographic and population changes, the energy transition, and more.
Today’s communities transcend geographic borders. At Stantec, community means everyone with an interest in the work that we do—from our project teams and industry colleagues to our clients and the people our work impacts. The diverse perspectives of our partners and interested parties drive us to think beyond what’s previously been done on critical issues like climate change, digital transformation, and future-proofing our cities and infrastructure.
We are designers, engineers, scientists, project managers, and strategic advisors. We innovate at the intersection of community, creativity, and client relationships to advance communities everywhere, so that together we can redefine what’s possible.
Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at Stantec.com or find us on social media.
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https://www.stantec.com/en/news/2025/stantec-reports-strong-third-quarter-2025
Stantec reports strong third quarter 2025 results, delivering over 17% growth in adjusted earnings per share
11/13/2025 EDMONTON, AB; NEW YORK, NY TSX, NYSE:STN
Highlights
- Net revenue of $1.7 billion, an increase of 11.8% compared to Q3 2024
- Adjusted EBITDA1 increase of 17.8% to $323.4 million and adjusted EBITDA margin1 of 19.0%, a 100 basis point increase over Q3 2024
- Diluted EPS of $1.32 and adjusted EPS1 of $1.53, up 46.7% and 17.7%, respectively, compared to Q3 2024
- Contract backlog increased to $8.4 billion, up 14.9% year-over-year
- Increases full year adjusted EBITDA margin guidance, reflecting the
strong performance year-to-date and expectations for Q4 2025.
Stantec (TSX, NYSE:STN), a global leader in sustainable engineering,
architecture and environmental consulting, released its third quarter
2025 results today which were driven by the continued demand for
Stantec's services, its diversified business model, and solid project
execution.
In the third quarter, net revenue increased to $1.7 billion, an 11.8% year-over-year increase, driven by 5.6% organic growth[1] and 5.2% acquisition growth1. Organic growth was once again achieved in each of Stantec's regional and business operating units, most notably in Water and Energy and Resources which achieved 12.8% and 9.7% organic growth, respectively. Third quarter 2025 adjusted EBITDA increased 17.8% or $48.8 million, and adjusted EBITDA margin reached an all-time high of 19.0%, up 100 basis points compared to the third quarter of 2024. Stantec delivered diluted earnings per share (EPS) of $1.32 and adjusted EPS of $1.53.
“Stantec delivered strong third quarter results, driven by the sustained global demand for our services and a continued focus on project execution and operational efficiency,” said Gord Johnston, President and CEO. “With the close of the Page acquisition in the quarter, and the continued demand we are seeing across all of our operating regions, we expect to deliver another record year for Stantec. We continue to make strong progress towards our 2024-2026 Strategic Plan, positioning us to successfully deliver on our targets.”
About Stantec
Stantec empowers clients, people, and communities to rise to the
world’s greatest challenges at a time when the world faces more
unprecedented concerns than ever before.
We are a global leader in sustainable engineering, architecture, and environmental consulting. Our professionals deliver the expertise, technology, and innovation communities need to manage aging infrastructure, demographic and population changes, the energy transition, and more.
Today’s communities transcend geographic borders. At Stantec, community means everyone with an interest in the work that we do—from our project teams and industry colleagues to our clients and the people our work impacts. The diverse perspectives of our partners and interested parties drive us to think beyond what’s previously been done on critical issues like climate change, digital transformation, and future-proofing our cities and infrastructure.
We are designers, engineers, scientists, project managers, and strategic advisors. We innovate at the intersection of community, creativity, and client relationships to advance communities everywhere, so that together we can redefine what’s possible.
Stantec trades on the TSX and the NYSE under the symbol STN.
Cautionary Statements
Non-IFRS and Other Financial Measures
Stantec reports its financial results in accordance with IFRS.
However, in this press release, the following non-IFRS and other
financial measures are used by the Company: adjusted EBITDA, adjusted
net income, adjusted earnings per share (EPS), adjusted return on
invested capital (ROIC), free cash flow, net debt to adjusted EBITDA,
days sales outstanding (DSO), margin (percentage of net revenue),
organic growth (retraction), acquisition growth, and measures described
as on a constant currency basis and the impact of foreign exchange or
currency fluctuations, as well as measures and ratios calculated using
these non-IFRS or other financial measures. Additional disclosure for
these non-IFRS and other financial measures, incorporated by reference,
is included in the Definitions of Non-IFRS and Other Financial Measures
section of the Q3 2025 Management’s Discussion and Analysis, available
on SEDAR+ at sedarplus.ca, EDGAR at sec.gov, and the Company’s website
at Stantec.com and the reconciliation of Non-IFRS Financial Measures
appended hereto.
These non-IFRS and other financial measures do not have a standardized meaning under IFRS and, therefore, may not be comparable similar measures presented by other issuers. Management believes that, in addition to conventional measures prepared in accordance with IFRS, these non-IFRS and other financial measures provide useful information to investors to assist them in understanding components of Stantec's financial results. These measures should not be considered in isolation or viewed as a substitute for the related financial information prepared in accordance with IFRS.
Forward-looking Statements
Certain statements contained in this news release constitute
forward-looking statements. Forward-looking statements in this news
release include, but are not limited to, Stantec's Outlook and Annual
Targets for 2025 in their entirety, any projections related to revenue,
adjusted EBITDA as a % of net revenue, adjusted net income as a % of net
revenue, adjusted diluted EPS growth, adjusted ROIC, free cash flow to
net income, net debt to adjusted EBITDA, effective tax rate, earnings
patterns, and days sales outstanding. Any such statements represent the
views of management only as of the date hereof and are presented for the
purpose of assisting the Company’s shareholders in understanding
Stantec’s operations, objectives, priorities, and anticipated financial
performance as at and for the periods ended on the dates presented and
may not be appropriate for other purposes. By their nature,
forward-looking statements require management to make assumptions and
are subject to inherent risks and uncertainties. Stantec's assumptions
relating to the 2025 Outlook and Annual Targets are provided in the
Company’s 2024 Annual Report.
Readers of this news release are cautioned not to place undue reliance on forward-looking statements since a number of factors could cause actual future results to differ materially from the expectations expressed in these forward-looking statements. These factors include, but are not limited to, economic downturns, future pandemics or health crises that could adversely affect operations, reduced public or private sector capital spend, changing market conditions for Stantec’s services, and the risk that Stantec fails to capitalize on its strategic initiatives. Investors and the public should carefully consider these factors, other uncertainties, and potential events, as well as the inherent uncertainty of forward-looking statements, when relying on these statements to make decisions with respect to the Company.
Future outcomes relating to forward-looking statements may be influenced by many factors and material risks. For the three and nine month periods ended September 30, 2025, there has been no significant change in the risk factors from those described in Stantec's 2024 Annual Report. This report is accessible online by visiting EDGAR on the SEC website at sec.gov or by visiting the CSA website at sedar+.com or Stantec’s website, stantec.com. You may obtain a hard copy of the 2024 Annual Report free of charge from the investor contact noted below.
Investor Contact
Jess Nieukerk
Stantec Investor Relations
Ph: 403-569-5389
jess.nieukerk@stantec.com
Jamie Burke
Project Manager
Based in Moncton, Jamie works on a broad range of projects for public and private sector clients across Atlantic Canada. Whether it’s new development plans, an official plan or policy review, public engagement or infrastructure planning, Jamie is committed to ensuring the design and approval process to be seamless and efficient so that our clients are successful, and our communities thrive.
Jamie is motivated by a desire to help communities become better places. Solving today’s challenges requires innovative thinking, creativity, and collaboration across professions, and this is what makes designing communities so exciting and important. Community building is fun and deeply meaningful, and no two days are the same. He loves the development process from project conception through to execution.
Jamie loves fresh air and being outside all year round. In the spring, summer and fall you can find him camping with his off-road teardrop trailer named Jaws. Alternatively, you’ll find him on the slopes, hiking, gardening, or trekking around the US watching college football.
- Location
- Fredericton, New Brunswick
- Offices
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Client
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Pomerleau
- Location
- Fredericton, New Brunswick
- Offices
- Client
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- Pomerleau
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Cyber Centre Office Building
Our team was commissioned by Greater Fredericton Knowledge Park Inc. (GFKPI) to help design Cyber Centre—an extension to a five-building complex that was created in 1998 as an economic driver for the knowledge industry.
Set to be occupied by high technology users, we provided multidisciplinary design services for the building, including architecture, civil, structural, mechanical, and electrical engineering from schematic design through to construction completion. Cyber Centre was constructed for the cyber security of Canada’s infrastructure, including defense systems, finance, transportation, hydro-electrical production, and water. The design features two independent office blocks of unequal floor-plate area, both connected, and separated, by a common service core accommodating the common support areas. The building is four floors, consisting of the 35,500 square feet (SF) ground floor, and contains the central core, common collaboration area, and three floors totaling 106,500 SF, including leasable space.
The building is designed to provide modern and efficient space to meet current standards for occupational health and safety, office technology and communications, and energy efficiency. The best part? Upon completion, the facility will help reduce carbon footprint and energy costs with real-time energy monitoring systems.
At a Glance
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$37M
Capital Cost
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142K
Square Feet
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96
Hours Operational Emergency Resilience
Ian MacLaughlan, Principal
Dedicated service to my clients, together with full accountability always leads to a successful project.
The board is responsible for the stewardship of our Company, and the board’s actions reflect its responsibility to establish proper business practices, appropriate ethical standards, and leading inclusive policies. The board oversees the conduct, direction, and results of the business and fosters accountability, guiding Stantec towards the implementation of its vision and mission—with every community, we redefine what’s possible.
The board of directors presently has nine members, the majority of whom are from outside Stantec. Eight of the current directors are unrelated to Stantec, independent of its management, and free from any interest or relationship that could materially interfere with their ability to act in the best interests of the Company.
Board of Directors
- Martin A. à Porta
- Douglas K. Ammerman, Chair
- Shelley A.M. Brown
- Angeline G. Chen
- Rick Eng
- Gord A. Johnston*
- Christopher F. Lopez
- Marie-Lucie Morin
- Celina J. Wang Doka
*non-independent
Audit & Risk Committee
- Shelley A. M. Brown, Chair
- Angeline G. Chen
- Rick Eng
- Christopher F. Lopez
- Celina J. Wang Doka
Corporate Governance & Compensation Committee
- Marie-Lucie Morin, Chair
- Martin A. à Porta
- Angeline G. Chen
- Rick Eng
Sustainability & Safety Committee
- Martin A. à Porta, Chair
- Christopher F. Lopez
- Marie-Lucie Morin
- Celina J. Wang Doka
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