Technoparc: Montreal buys $30M site to protect its natural environment

The City of Montreal reached a deal on Wednesday with Hypertec to buy their land for $30.6 million in Saint-Laurent.

The technology firm was going to build on the wetlands surrounding the Parc nature des Sources.

The city will acquire 11 new hectares of land, while Hyerptec is expected to relocate and construct on vacant lot in the borough of LaSalle that covers 3.7 hectares, at a cost of $12.6 million.

“The success of this partnership demonstrates our administration’s ability to combine economic development with environmental protection,” said Montreal Mayor Valérie Plante. “This long-term work allows us to apply a win-win solution, which will protect the important biodiversity of the sector. This agreement demonstrates that economic development and the environment are inseparable levers to guarantee the city a green, resilient, and prosperous future.”

Hypertec is expected to generate 800 jobs in the city, while this new deal contributes directly to the City of Montreal’s goal to protect 10 per cent of its territory by 2030.

According to a press release, the company’s new building will become their new global headquarters.

“The site will include a state-of-the-art sustainable technology manufacturing facility as well as research and development labs. This future building will stand out for its innovative approach to sustainability and will become a world reference in eco-responsible construction,” reads a press release.

The park is home to natural environments including a rich biodiversity, with more than 200 birds and endangered species, like the monarch butterfly.

The wetlands are in the middle of an industrial sector, with the Pierre-Elliott-Trudeau International Airport nearby.

“Since its foundation, Hypertec has always placed innovation and sustainability at the heart of its mission,” said Eliot Ahdoot, Head of Innovation and Sustainability at Hypertec. “We are proud to partner with the City of Montreal and the various stakeholders to carry out two major projects: the construction of a new plant, designed to be a world reference in sustainable technological practices, and the preservation of local biodiversity through the extension of the Des Sources nature park. This partnership illustrates our commitment to combining economic development and environmental responsibility, demonstrating that these two goals can not only coexist, but reinforce each other.”

The City of Montreal will receive up to $4.4 million in financial assistance from the Government of Québec and the Communauté métropolitaine de Montréal (CMM) as part of the Greater Montreal Green and Blue Belt program.

Also, The Nature Conservancy of Canada (NCC) will contribute two million towards the project.

“So, I guess the next step for me, every time we use Montrealers money to buy land because we believe this is important and Montrealers believe it is important, there has to be also a consciousness from other level of government where the federal and provincial should support cities who don’t’ have as many financial capacities to buy and sustain those goals and people’s goals are to save green spaces.”