Construction

There is a total of 2.7 million square feet currently under construction in Greater Montréal, including the 1.1 million square foot head office being erected for National Bank’s headquarters. Other projects being built downtown include 700 Saint-Jacques (320,000 sf), right next to National Bank, 1300 Sherbrooke West (100,000 sf), and further East, 700 Saint-Hubert (150,000 sf) on the Gare Viger site. Nearly 60% of the office space currently under construction is located downtown.

The supply of new office space in Midtown will be improved this year with the delivery of more than 600,000 sf, including the Royalmount project, a 340,000 sf office building at 8400 Décarie Boulevard. Although the conversion of former industrial buildings into lofts office space has slowed down in the central neighbourhoods of Midtown, two projects, one on Saint-Urbain and the other on Rue du Canal, should be completed this year.

In the suburbs, the majority of the development activity is related to Transit Oriented Development (TOD) projects. In Laval, the only office supply underway (200,000 sf) is part of the mixed-use TOD Espace Montmorency project. The other TOD project currently underway, 3400 De l’Éclipse, will add 230,000 sf of office space on the site located around the future REM station at Solar Uniquartier. Two other buildings were delivered in this sector shortly before and during the pandemic.