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Quebec  + Multi-residential Housing  | 
Trophy-class office availability is becoming scarce in Montreal, says Avison Young.

Plan Seeks 15K Downtown Montreal Housing Units

The City of Montreal aims to create about 15,000 downtown housing units over the next six years as part of a new $1.8-billion development plan.

The city announced its intention to establish two new residential mixed-use neighbourhoods in the Faubourgs and Bridge-Bonaventure areas. Many of the homes are expected to be rental and condominium units.

The plan also aims to consolidate the downtown’s position in the technology, healthcare and cultural and creative sectors.

The city pledged to prioritize investments in existing buildings to reverse high vacancy rates, particularly in the former Royal Victoria Hospital and Îlot Voyageur (Voyager Island) locations. The plan also aims to accelerate development in the city’s international district (Quartier International) near the Old Montreal area.

Mayor Valérie Plante said in a news release that the plan aims to propel the downtown’s social, economical and cultural appeal on a local, national and international scale.

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Valérie Plante

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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