Montreal’s Wellington Basin is slated to undergo a massive overhaul as part of a long-term redevelopment plan.

Co-ordinated by the federally owned Canada Lands Company, the basin area will contain 2,800 new homes with many expected to be located in multi-residential developments, Of those residences, 1,000 are slated to be affordable and social housing with control measures in place for 55 years.

The proportion of social and affordable housing is 55%, higher than the 40% required by the city’s mixed metropolis bylaw, according to a Canada Lands news release.

The site will also contain a swimming area in the former Wellington Basin.

According to Canada Lands, the project will offer three distinct zones: A community: artisans’ district, Basins’ Beach recreation and tourism area, and an innovation cluster.

Canada is a Crown corporation that specializes in real estate and development, and attractions management.

The redevelopment project is slated to conclude in 10 to 15 years.