Groupe HD and Fondaction have partnered to acquire a strategic land parcel in Montreal for the development of nearly 1,200 residential units, with a total investment of over $425 million.

Information on the Target

Groupe HD and Fondaction have officially entered into a significant partnership for the acquisition of a strategic land parcel exceeding 210,000 square feet, located at 5600 Sherbrooke Street East, in the Mercier-Hochelaga-Maisonneuve district of Montreal. This development will accommodate nearly 1,200 new residential units, representing a total investment of over $425 million. Thomas Dufour, Co-President of Groupe HD, remarked, 'This acquisition stands as one of the most remarkable and promising transactions for our organization to date. We are deeply grateful to our partner Fondaction for their trust and support in executing large-scale projects such as the one on Sherbrooke Street.'

The project is designed in alignment with the particular urban planning program (PPU) of Assomption Nord in Montreal, focusing on inclusive residential diversity, quality green spaces, and harmonious densification, actively contributing to the revitalization of the area. Approximately 15% of the units, or about 180 housing units, will be designated as affordable, and the project will aim for LEED Gold certification for environmental responsibility.

Industry Overview in Montreal

Montreal's real estate market has shown resilience and strong growth in recent years, driven by robust population growth and a rising demand for residential housing. The city has positioned itself as an attractive location for