Leyad plans to convert a Montreal warehouse into a local artist hub.

The property is located at 5655 Rue de Marseille in the city’s Mercier-Hochelaga-Maisonneuve borough. Montreal-based Leyad purchased the 65,000-square-foot warehouse from industrial-focused PROREIT for an undisclosed price.

Following substantial renovations, the building’s vacant spaces will be repurposed into individual studios for a wide variety of artistic practices, said Leyad in a news release. The studios will be surrounded by lively communal spaces.

“By offering affordable rental spaces in an industrial setting, we aim to encourage collaboration, innovation, and community among Montreal’s creative talents, said Henry Zavriyev, Leyad’s CEO.

“The facility will be designed to promote a sense of unity, with shared common areas that inspire interaction and mutual support among artists.”

The building was constructed in 1968 and underwent extensive renovations in 2013. The property comprises about two acres of land.

“This initiative is more than just an investment in property,” said, Zavriyev. “It’s an investment in Montreal’s cultural fabric.”

Pictured: Gregory Castiel, Leyad’s director of commercial properties (left) and Henry Zavriyev, Leyad, founder and CEO.

Photo: CNW Group/Leyad