Montreal Neighbourhoods to Watch in 2022

Joe’s post-election analysis offers some optimism for ambitious builders

“The truth is, it has always been a challenge to sell Montrealers on the idea of density in real estate,” explained Joe Rullier, vice-president with Colliers International — Private Capital Markets Division. “Montreal’s unique geography and the importance of Mont Royal is an omnipresent concern, regardless of who is leading the city politically.”

The longstanding debate over allowing for more density in housing and other real estate development projects — as Rullier puts it, the need to #BuildUpMTL — has been tense following recent municipal elections in Montreal. While the central city’s administration takes a cautious approach, there are boroughs where the potential for real estate development remains strong, as does the potential for strategic investments in what remains one of Canada’s hottest housing markets.

Despite unstable political landscapes, Joe says some neighbourhoods are undeniable real estate hotspots. Watch these boroughs and their growth in 2022:

Lasalle

It is an emerging, practically booming suburb in Montreal’s real estate landscape. Those leading the southwestern borough of Lasalle are certainly not shy about building up, and their unique hyper-local Équipe Lasalle Team convincingly won every seat available on council.

“Maybe some Montrealers are excited about building up after all,” Joe noted.

It’s a hot suburb for affordable family housing, as the “Downtown Lasalle” projects in development showcases the potential of transit-oriented suburban development.

Read more about Joe’s work to #BuildUpMTL in Lasalle here.

“All the right conditions are there,” explained Rullier. “You’re in a public transit nexus that includes access to metros, designated bus lanes and improved cycling infrastructure. More density will help drive down apartment prices in Lasalle but elsewhere in Montreal as well, which will contribute to keeping families on the island as opposed to Laval or the South Shore. Add to that the perfectly central location and modern conveniences including the Angrignon mall right in ‘Downtown Lasalle’ — what’s not to love?”

Saint-Laurent

Like Lasalle, Saint-Laurent is a central suburban Montreal borough (to the north, whereas Lasalle is to the south) where residents have embraced the modern conveniences of suburban life while preferring dense, transit-oriented housing. 

Place Vertu is the Angrignon mall of the area, a central commercial district adjacent to major thoroughfares that has for decades been a gathering hub and is increasingly surrounded by high-density housing.

On the political front, most elected officials are associated with more favourable policies on housing density. It’s also worth noting that the Leader of the Opposition is Saint-Laurent councillor Aref Salem, who is expected to have a moderate position on density and how it can contribute to solving Montreal’s housing crisis.

“The proximity of services, including an REM (electric train) station on Marcel-Laurin, are a major selling point,” added Joe. “You also have a shopping mall — again, right next to the highway — and it’s still very affordable. I’ve sold a lot of properties in the area and they’ll go vertical. What makes people stay is simple: better services, public transit options, and proximity to downtown. It’s a great example of how, if you offer a person what they need, they won’t leave.”

Verdun

While political policies on density would presumably be in line with the central city’s, given the recent election results, what is undeniable about Verdun is that it is one of, if not the hottest central Montreal borough for residential housing. 

Like the trendy Plateau, Verdun’s three-storey walk-ups, close to Metro stations and a short drive from the downtown core, make it ideal city living. 

It may be difficult to predict exactly how open or not the borough will be to ambitious real estate projects as physical space is quite limited, but the market conditions are certainly pointing to a clear hotspot. 

“Verdun is definitely riding a wave but there are still lots of obstacles to contend with,” he continued. “Verdun is an area that is still very affordable but the quality of what’s available needs some modernization. Again, density is the key; they must allow developers to do what they do best, and in doing so, we’ll attract more people to live there.”

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Joé Rullier.