Sunday, September 24, 2023

Montreal reaches milestone of 100 rooms “protected from speculation”

The Plante administration is once again using its right of pre-emption to acquire a building and create social housing there. This time, it will cost $590,000 in the South-West borough, bringing the total number of rooms “acquired and protected from speculation” to over a hundred.

This will be announced by the head of housing in the executive committee, Benoit Dorais, this Monday. The building in question is a three-story, one-bedroom house with 11 units on Wellington Street, in the Pointe-Saint-Charles district.

Without giving many details of what will happen next, Montreal nevertheless assured that “the work will be done to improve the building and maintain its vocation as social housing”.

In a statement, Benoit Dorais stated that, “through this acquisition, the City contributes to the preservation of an inclusive living environment in a sector where the needs are important.” “Thanks to the right of pre-emption, we were able to confirm, last year, the acquisition of 104 rooms and small accommodations in the boroughs of Sud-Ouest, Mercier–Hochelaga-Maisonneuve, Ville- Marie and Villeray–Saint -Michel–Parc-Extension,” he continued.

“Concrete actions”

In total, these claims cost the City more than 22 million. “These acquisitions are part of our concrete actions to protect existing affordable housing and maintain housing solutions tailored to vulnerable populations,” said Mr. Dorais, who is also vice-president of executive committee and mayor of South-West.

Earlier, in June, the City also announced the purchase of the former Gordon Gardens, in Verdun. The 99-room residence closed its doors last year and has been vacant ever since. “We know the pressure is intense in Verdun,” Mayor Valérie Plante said in front of Verdun’s town hall. “What we try to do is protect the buildings when we have the chance. »

Montreal then spent 8.1 million for acquiring the building, while it was worth 3.9 million according to the land roll. It was the third time in as many months that Montreal had to break the bank to buy buildings at prices that were more than double their property appraisals.

Last November, the Plante administration announced the purchase of land on rue Jarry Est for 4.75 million (municipal assessment: 1.3 million), as well as a building in poor condition on rue Bernard Est for 4 million (assessment of municipality: 1.6 million).

For several years now in Montreal and other cities, the right of pre-emption essentially allows a city to have priority over any buyer when selling a building or even land. The administration can then create social housing or develop community infrastructure, for example.

Nation World News Desk
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