New affordable three-storey housing project on Verdun’s Gordon Street

With the lack of affordable housing a growing concern in Montreal, the city continues to acquire properties to transform for use – including one in Verdun on Gordon street.

On Thursday, Montreal mayor Valérie Plante, accompanied by Benoit Dorais, vice-president of the executive committee of the city of Montreal and responsible for housing, real estate strategy and legal affairs, announced the acquisition of the three-storey, 99-apartment building.

The cost $8.1 million – that will then be resold to a non-profit organization to develop affordable housing and be responsible for its management.

The city says the existing building can quickly be converted into affordable housing and operated in the short term. It also offers a great opportunity for densification.

Proactive solutions to the housing crisis

“Our administration has always made housing a priority,” said mayor Plante. “Faced with the housing crisis, we are very proactive in finding solutions and providing the population with quality housing that respects their ability to pay. The right of pre-emption that we are using today to acquire the building on Gordon Street demonstrates our ability to innovate to accelerate the development of social and affordable housing in Montreal. This acquisition will allow us to offer a better supply of affordable housing in a sector that is facing significant pressure.”

The borough of Verdun has experienced its own set of challenges as gentrification has transformed it into a trendy neighbourhood, directly affecting rents and affordability in the area.

Gentrification a growing problem for Verdun tenants

“Verdun is a neighborhood where life is good and which stands out on the international scene,” said Verdun mayor, Marie-Andrée Mauger. “It is well served by public transport, local services and local businesses. All these qualities, however, lead to a high demand for housing, which pushes prices up. This new affordable housing offer, located in the heart of Verdun and close to the Aqueduct promenade and green spaces, will help preserve the diversity and dynamism of our borough.”

Exercising the right of first refusal allows the city to act with greater agility on the resale market to acquire properties that meet needs and protect them from speculation, says Dorais.

“This building is in good condition and is ideally located, near the metro and services. It will make it possible to create at least 85 affordable units and to respond quickly to very concrete needs. We will take the necessary steps to ensure that the conversion of the building and the renovation work, which will be carried out by the organization to which the city will resell the building, are carried out quickly to welcome tenants back into it.”