
National Bank Provides Kevric with Green Loan for 600 DLG Project
National Bank of Canada has provided a green loan to Kevric and its financial partner for the redevelopment of the bank’s former headquarters building in downtown Montreal.
Kevric is redeveloping the tower, now known as 600 DLG, at 600 De La Gauchetière West prior to CN Rail’s relocation of its head office to the building. CN will start moving in some departments during 2026 with full occupancy and commencement of a 20-year lease scheduled for 2028.
The amount of the green loan and other terms were not disclosed. The World Bank defines a green loan as one that enables borrowers to use the money to fund exclusively fund projects that make a substantial contribution to an environmental objective.
The redevelopment aims to achieve LEED Gold environmental certification, reinforcing the partners’ shared commitment to sustainable development. The amount of the loan was not disclosed.
The project represents a key milestone and massive transformation of the iconic building, which served as National Bank’s headquarters for more than 40 years. The redevelopment is designed to modernize the building for future generations, equipping it with state-of-the-art, sustainable infrastructure.
The building’s transformation includes:
- Reducing energy use: Employing innovative technologies to minimize environmental impact.
- Recommissioning electromechanical equipment: Calibrating and optimizing systems for sustainable operations.
- Maximizing natural light: Installing new windows and reorganizing spaces to enhance daylight usage.
- Creating next-generation workspaces: Designing flexible, modern spaces that prioritize wellbeing and productivity.
- Strengthening connections to Montreal’s economy: Positioning the building as a key player in the downtown ecosystem, attracting new tenants and contributing to the city’s vitality.
- Adopting responsible building practices: Minimizing environmental impact during both renovation and operation.
“By supporting the redevelopment of this building, which has played a significant role in the bank’s history, we’re affirming our commitment to create a better environment for future generations of workers,” said René Demers, National Bank’s senior vice-president of commercial and private real estate banking.
“This transformation will minimize the building’s carbon footprint while revitalizing Montreal’s downtown core, making it even more attractive and dynamic.”
The redevelopment project was sparked by National Bank’s relocation to National Bank Place, which officially opened in September 2024. Standing 40 storeys, National Bank Place is the largest commercial real estate project completed in Montreal in the past three decades.
Montreal-based Kevric specializes in redevelopment. Sébastien Hylands, the company’s president, said the 600 DLG project reflects the company’s vision of transforming iconic buildings to create contemporary spaces that are adapted to their occupants’ needs and aligned with the industry’s latest environmental practices.
“National Bank’s financial support will be essential in bringing this ambitious vision to life,” he added.
National Bank ranks among Canada’s six biggest banks with $462 billion in assets as of October 31, 2024.
Kevric is a leading real estate developer, private owner, and commercial property manager. The firm redeveloped numerous buildings into top-class properties in Montreal, Ottawa, and Toronto.
Current projects include Place Bonaventure, AIMIA Tower (soon to be renamed Air Canada Tower), and 1100 Atwater in Montreal.
Rendering: Courtesy of Kevric
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- ◦Development