Groupe HD, Kastello Immobilier and Société Financière Bourgie have acquired a Montreal auto dealership site for a conversion project.

Plans call for the Fortier Ford property in the borough of Anjou to be redeveloped as a multi-family residential property containing approximately 1,000 units. The project differs from other conversions that often involve offices spaces being turned into residential suites.

The transit-oriented development site is located at 7000 Boulevard Louis-H.-La Fontaine, near the terminus of the Montreal metro’s blue line extension. The acquisition marks the launch of a planning and development process, said the companies in a news release.

All three partners are based in Montreal.

“The boom in the Anjou area, driven particularly by the extension of the Montreal metro’s blue line, is a huge asset for the development of a new TOD-type residential neighbourhood, said Thomas Dufour, a Groupe HD co-president. “Groupe HD is honoured to be continuing its mission and helping to build the housing of tomorrow.” 

The coming Anjou metro station will connect the development’s residents to downtown Montreal, said Mathieu Collette, Kostello’s vice-president of real estate.

Groupe HD specializes in multi-resident real estate investment, development, construction and management. Kastello Immobilier specializes in residential real estate investment, particularly in the acquisition and management of residential rental properties and their development in partnership with developers. The firm is a subsidiary of Kastello, a family-owned investment company focused on residential development.

Société Financière Bourgie is a family office private wealth management firm founded by entrepreneur Pierre Bourgie.

Pictured: Site of future multi-family redevelopment project (left, in orange) in Montreal.

Photo: CNW Group/Groupe HD

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