The extension of the lease of an organization that occupies premises in the southern part of Îlot Voyageur in downtown Montreal could delay the expected development of affordable housing, the opposition says.
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The City of Montreal intends to give Les Valoristes premises by the end of 2024. The City Council is expected to approve the change to the contract next Monday.
However, the building on Boulevard De Maisonneuve Est, at the intersection of Rue Berri, is part of an affordable housing project that has been stagnant for several years.
For the opposition critic of economic development, the problem does not lie in the extension of the lease, but in the consequences that this could have for the real estate project.
“If we say to ourselves that we are going to embark on a lease extension plan until the end of 2024, that means that in the best-case scenario we will start work in 2025,” specifies Julien Hénault-Ratelle.
The Îlot Voyageur real estate project was launched in 2005 by UQAM. Faced with skyrocketing costs, Quebec wrote a $200 million check to avoid bankruptcy at the university.
The provincial government regained control of the project in 2010 by purchasing the building in question. It was then sold to the City of Montreal in 2018 for $18 million.
The Plante administration then transferred the mandate to the Société d’habitation et de développement de Montréal (SHDM). The project has since been postponed several times.
Waiting for a new deadline
If the city still supports the project, no new timeline has been proposed yet.
“There is absolutely no follow-up. The sector needs love, it needs a new breath,” said Mr. Hénault-Ratelle, who had asked for a clear plan from the city last September.
According to him, the site has a potential of 650 residential units to be developed. “If we take a certain percentage to turn it into social housing or student housing, that could give a good boost to the sector’s redevelopment.”
For their part, the Plante management ensures that this lease extension will not affect the schedule.
“The flexibility of occupancy and leases allows for adjustment to the redevelopment project and therefore has no impact on the schedule,” said Catherine Cadotte, city press officer.