Project Maestro: $ 10 million for social housing

Projet Maestria: 10 millions pour des logements sociaux

Photo: Devimco
The real estate complex to be constructed on the site of the old Spectrum.

The proponents of the Mastery, a real-estate complex, which should see the light of day on the former site of the Spectrum, promises to pay a contribution of $ 10.1 million to compensate for the lack of social housing in their project.

The mayor Valérie Plante made the announcement Tuesday night as the borough council would rule on the real estate project, which will include 1636 residential units.

As the project was not a waiver or regulatory change in use or density, it was not subject to the rules of the inclusion Strategy and no social housing was required. Devimco real Estate, however, has agreed to pay $ 2.6 million in contribution Funds to the Strategy for inclusion of affordable housing. For its part, the Fonds immobilier de solidarité of the FTQ will invest $ 7.5 million in real estate projects in social or community of Ville-Marie.

“It’s been a few months that the district was in discussion with them about it. The proponents have understood the guidance of our directors in the area of gender equality and the needs for social housing in Ville-Marie. It sends a very positive signal, ” said councillor Sophie Mauzerolle, who also chairs the city’s planning advisory Committee (CCU) of Ville-Marie.

It is not known for the moment in what specific projects these funds will be invested, but the money will be for projects in the borough of Ville-Marie. The promoters were not available Wednesday for comment on the announcement.

The proponents have understood the guidance of our directors in the area of gender equality and the needs for social housing in Ville-Marie

— Sophie Mauzerolle


Earlier this week, the Committee on housing of Ville-Marie had deplored the fact that the City has not demanded of the proponents of the inclusion of social housing in the project Maestra. The share of social housing being built in Ville-Marie represents only 3.8 % of the total units of housing starts in the borough, reported the coordinator of the Committee, Eric Michaud.

The project Mastery has undergone several changes since the announcement made by the promoters last November. The two towers, which were from 51 and 53 storeys, will now 55 and 58 floors. The number of units is increased from 1500 to 1636, of which 700 will be put in rental.

It remains for the real estate project several steps to go through before construction can go ahead. On the 27th of February next, it will be the subject of a public consultation meeting. It must also be reviewed by the CCU before being resubmitted to the borough council.