The Société de transport de Montréal (STM) has announced plans for significant real estate developments above existing metro stations. This initiative aims to create approximately 8,000 housing units across the city. Transgesco, the STM’s commercial arm, is currently evaluating various sites suitable for this ambitious project. The announcement was made by Nathalie Lavoie, vice president of real estate development, during a recent panel discussion organized by the Métropolitan Community of Montreal (CMM).
Future Developments Above Metro Stations
Transgesco is set to explore development opportunities at all metro stations in Montreal. Lavoie emphasized the organization’s interest in leveraging available spaces for real estate projects. She noted, “The door is open, and we will look at all stations and spaces to create real estate developments.” This planned expansion is part of a broader strategy to diversify the STM’s revenue sources.
Potential Sites for Housing Projects
While the specific stations targeted for housing developments have not been disclosed, experts suggest several potential candidates. One notable location is the Saint-Laurent station, which is in proximity to the Quartier des Spectacles. Currently, the site hosts bicycle parking and construction materials. Samuel Pagé-Plouffe, director of public affairs for Vivre en Ville, highlighted that the location has long been speculated for development but has yet to materialize.
- Saint-Laurent Station – identified as a strong candidate for new housing.
- Laurier Station – may not be suitable due to surrounding low-rise residential buildings.
Challenges and Considerations
There are complexities involved in developing above operational metro stations. Maha Clour, Transgesco’s general director, pointed out that building during active metro operations can be technically challenging and risky. The STM is keen to test this new real estate model during the upcoming extension of the blue line.
Ongoing Projects and Future Ambitions
The STM is also moving forward with existing projects, including a partnership with Groupe Mach to develop 500 housing units adjacent to the upcoming Césira-Parisotto station at Jean-Talon and Lacordaire. This project is estimated to cost approximately $100 million.
Additionally, plans are in place for three buildings near the Frontenac station, totaling 524 units. This includes 442 rental units and 82 affordable units. The STM awaits government approval to seek developers for this endeavor, marking a strategic shift from their previous approach driven by ownership of the land.
With these developments, the STM aims to enhance Montreal’s urban landscape while addressing housing needs in the city. The results of these initiatives will determine the future of real estate possibilities above metro stations across Montreal.
