The first phase of Inspire Bio Innovations’ downtown Montreal biomedical hub is set for completion this summer, The Globe and Mail reported.

The first phase’s completion will mark a major milestone in the redevelopment of the former Montreal Chest Institute site. The second phase, an eight-storey addition, is expected to be finished in 2026, according to the Globe

Located on Saint-Urbain Street between Avenue des Pins and Prince-Arthur Street, the site had remained vacant for a decade following the chest institute’s relocation in 2015. Now, through a redevelopment effort led by real estate development firm Jadco Group, architecture firm NEUF, and contract research lab CellCarta, the property is being transformed into a $350-million medical research lab and life-sciences startup incubator.

“We needed state-of-the-art laboratories downtown to attract talent, biotech companies and financial investment,” Normand Rivard, managing partner of life sciences and innovation at Jadco, told the Globe. “That was the missing piece to make Montreal an international player in the life-sciences field.”

The Inspire Bio hub will feature a rooftop terrace and a glazed atrium linking its two phases, providing a collaborative environment for research and development. The award-winning project aligns with Quebec’s Life Sciences Strategy, which aims to attract $4 billion in private investment by 2025 to position the province as one of the top five life-sciences markets globally by 2027.

“This is a win for the private and the public sector as the Quebec government figures out what to do with hundreds of thousands of square feet of unused buildings throughout the province,” said Azad Chichmanian, architect and partner at NEUF, told the Globe.

Interest in leasing space within the hub has been strong, particularly among companies focused on precision medicine, a field that tailors treatment to individual genetic, environmental, and lifestyle factors. According to Rivard, ongoing negotiations with several firms could further enhance Montreal’s standing as a life-sciences leader.

“Turning a legacy building that needed a lot of love … into a place where drugs of the future will be developed is quite an achievement,” Rivard told the Globe.

Pictured: Inspire Bio’s future downtown Montreal biomedical hub.

Rendering: Neuf