The City of Montreal plans to build some forty social housing units in a building it recently acquired in the Plateau-Mont-Royal borough.
Posted at 12:29 p.m.
This is what the City announced Wednesday in a press release. Montreal used its right of first refusal, which allows it to buy land or property for community purposes as a priority, to get its hands on a building in the Plateau-Mont-Royal, on rue Bernard Est, near the Rosemont metro station.
“The right of first refusal that we are exercising today will contribute to the creation of a mixed, inclusive and stimulating living environment,” declared Luc Rabouin, Mayor of Plateau Mont-Royal.
Purchased for 4 million dollars, the building will be the subject of a development of about forty social and community housing units, the City indicated. A community organization, still unknown, will take part in the project.
“In a context of land scarcity, it is crucial to seize development opportunities to improve and protect the supply of social housing in Montreal. This building, acquired at market value, is in line with our ambition to offer Montrealers a roof that meets their needs and respects their budget,” added Benoit Dorais, Vice-President of the Executive Committee and responsible for housing, real estate strategy and legal affairs.
Last winter, Montreal adopted a new right of first refusal to increase the supply of affordable housing in the city. Exactly 623 lots are recorded in the inventory of buildings and land subject to the right of pre-emption of the City of Montreal, according to Data Quebec.
“This new by-law allows the City to quickly acquire land or buildings for housing purposes, in particular to carry out affordable housing projects. The City may also acquire existing rental buildings to preserve their affordability,” the statement read.