The Société de transport de Montréal (STM) is embarking on an ambitious plan to develop residential properties above existing metro stations. The goal is to create 8,000 new housing units across the city. This initiative was announced by Nathalie Lavoie, Vice President of Real Estate Development at Transgesco, during a recent panel at the Agora Métropolitaine, organized by the Communauté Métropolitaine de Montréal (CMM).
Development Plans Near Montreal Metro Stations
Transgesco, the commercial arm of STM, is currently analyzing potential sites for these developments. Lavoie indicated that they are looking at all available spaces around metro stations for possible real estate projects. The focus includes stations like Laurier and Mont-Royal on the Orange Line.
Potential Locations for Housing Projects
Various stations have been identified as potential candidates for housing projects. According to Samuel Pagé-Plouffe, Director of Public Affairs at Vivre en Ville, the Saint-Laurent station is a strong option. Currently, it houses bicycle parking and construction materials, but its location near the Quartier des Spectacles makes it particularly appealing.
- Saint-Laurent Station: This site has long been speculated for development but has not yet seen progress.
- Laurier Station: Situated in a residential area, it may not be suitable for large-scale projects.
Pagé-Plouffe emphasizes the need for urban coherence in development, stating, “We cannot just build anything.” The new approach taken by STM is viewed positively, but it must navigate the complexities of constructing above operational metro stations.
Current Housing Projects and Future Plans
STM is not only exploring these new developments but is also moving forward with existing projects. Recently, they received government authorization to start a development of 500 units at the future Césira-Parisotto station, located at the intersection of Jean-Talon street and Lacordaire boulevard. This $100 million project is in partnership with Groupe Mach.
Additionally, STM plans to construct three buildings around Frontenac station, totaling 524 housing units, including 442 rental units. Waiting for governmental decrees, STM aims to collaborate with a developer for this project. It’s essential to note that this approach is distinct because STM already owns the land where these buildings will be constructed.
These developments reveal STM’s commitment to diversifying its revenue streams while addressing the housing needs in Montreal. As the planning and analysis of various station sites continue, stakeholders look forward to seeing the successful execution of these housing initiatives.
