The real estate of the City of Montreal is in poor condition and continues to deteriorate, revealed Friday the real estate service of the metropolis.
The municipal housing stock has been suffering from a recurring maintenance deficit for years.
According to data from the Building Management and Planning Department, the “dilapidation rate” of Montreal’s municipal real estate stock will reach 40% in 2022, up 2 points from 2021. The dilapidation rate represents the proportion between the work required on a building and the cost of rebuilding it.
The objective of the City of Montreal is to maintain the rate of dilapidation of its housing stock below 20%.
“Although we have a large envelope of 1.4 billion, […] the fact remains that the needs for protection, modernization and reduction of the investment deficit continue to grow”, affirmed Sophie Lalonde, the director of the service. She testified before the Finance Commission of the City of Montreal, responsible for studying the 2022 balance sheets and the 2023 budgets of municipal services.