The City of Montreal has announced its intention to acquire about 700 affordable housing units in the Côte-des-Neiges area.

The $103.8-million acquisition will ensure the units are protected from real estate speculation and remain accessible to those in need, said the city in a news release.

The properties will be managed by the Office municipal d’habitation de Montréal (OMHM), which plans to conduct a detailed health check of the buildings in the coming months to identify renovation priorities.

“Protecting more Montrealers by guaranteeing them affordable housing on a sustainable basis is our concrete way of combating the housing crisis and preventing homelessness,” said Montreal Mayor Valérie Plante. “Thanks to the historic sums we invest and the right of pre-emption we use, we enable the city to act as an active promoter of residential affordability.

“Our administration’s efforts are yielding results and bringing us closer to our goal of achieving 20% non-market housing by 2050.”

The acquisition is part of Montreal’s broader housing initiative, Loger +, which focuses on protecting existing affordable housing and creating new units. The right of pre-emption, a legal mechanism that allows the city to acquire properties before they are sold to private buyers, has played a critical role in this effort, Plante’s office contends. Since 2018, the city has used this tool to preserve 240 affordable housing units across the city.

“We are proud to collaborate with OMHM on this ambitious project,”

This announcement demonstrates our ability to make large-scale strategic real estate investments,” said Benoit Dorais, vice-president of the city’s executive committee and head of housing, real estate strategy, property assessment, and legal affairs.

Local borough leaders also expressed their enthusiasm for the project. Gracia Kasoki Katahwa, mayor of Côte-des-Neiges–Notre-Dame-de-Grâce, emphasized its significance for her community. (Borough mayors are, essentially, city councillors.)

“Thanks to these acquisitions, we will continue to ensure healthy, affordable housing for our community over the long term,” she said. “I would also like to thank my colleague Benoit Dorais for his exemplary collaboration in bringing this acquisition to fruition. This achievement is further proof of our determination to take concrete action in response to the housing crisis.”

OMHM General Manager Isabelle Pépin said the acquisition will enable her group to act as a key player in expanding affordable housing in the city.

“Our team will put all its expertise and know-how into action to manage and keep these buildings in good condition,” she said.

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