A Quebec consortium has finalized the purchase of Montreal’s Molson brewery site, clearing the way for a redevelopment that will introduce “diverse housing alternatives that meet the needs of the neighborhood and future residents.”
The consortium consists of Selection Group, Montoni, and the Fonds immobilier de solidarité FTQ. It intends to redevelop the former Molson site on Notre-Dame Street into a district featuring condominiums, retail outlets, and private, social, and community-inspired rental units.
“We want to provide Montrealers with a complete, lively neighborhood that combines quality of life, an employment hub and respect for the environment,” said Réal Bouclin, Founding President and Chief Executive Officer, Selection Group. “When the Molson family set up its brewery on the banks of the river at the end of the 18th century, it foreshadowed the city’s industrial development. Today, Selection Group wants to play a leading role in the transformation of this part of downtown Montréal.”
The consortium plans to make the neighbourhood greener and take full advantage of the nearby St. Lawrence River. Moreover, it aims to make the area more engaging for community members and tourists alike.
“The site will remain an important employment hub and will also be transformed into a lively neighborhood that will be swarming with residents,” said Normand Bélanger, President and Chief Executive Officer, Fonds immobilier de solidarité FTQ, adding, “The next steps in this structuring project will be inspired by the common goal of successfully transforming the area.”
Molson Coors will relocate its head office to the future site. Company president and CEO added the consortium’s vision is fitting for the riverside area, noting, “It goes without saying that Molson Coors is naturally very attached to the Montréal island site and the sales process was rigorously structured to ensure a lasting legacy for Montrealers that Molson could be proud of.”