Sweep the broom, empty the rubbish bins, add cycle paths, install sculptures, transform the Latin Quarter into a 24-hour French-speaking area…
Published at 1.14am Updated at 5.00am
Valérie Plante’s administration presented this week its strategy to revitalize downtown Montreal by 2030, which pulls a bit in all directions and recycles some old ads, but some elements are promising.
One, perhaps even more than all the others: the expansion of the Palais des Congrès. And above all: the redevelopment of the entire surrounding neighborhood, undoubtedly one of the most decrepit in the metropolis.
The idea is far from new, but I’ve been tracking down my sources for new information for two days, with success.
Here is the summary:
The expansion, as currently planned, would be accompanied by the covering of the Ville-Marie highway, a true open-air scar that separates the city center from Old Montreal. There is talk of building a hotel, a park, commercial premises and up to 3,000 homes on top of this expansion.
It’s important.
According to the most ambitious version of the project, the Ville-Marie motorway would be run on two entire quadrilaterals, up to the Place des Montréalaises, in front of the town hall. The concrete slab would serve as a foundation for future developments and reweave the urban fabric in this very inhospitable area.
The project seems gigantic and it is. But a new element could help unlock it. According to my information, a large investor, Ivanhoé Cambridge, the real estate arm of the Caisse de dépôt et placement du Québec, would be willing to accept orders if the right conditions were met.
I’m told the federal government could also get involved by paying for some or all of the concrete through its infrastructure financing programs. An expense estimated at approximately 120 million.
The expansion project of the Palais des Congrès is nothing new, it must be said.
The former PQ government of Pauline Marois decreed in 2012 a land reserve on a number of plots, just east of the current building, with a view to future expansion. The case cost millions in expropriation costs and even ended up in court1.
PHOTO FRANÇOIS ROY, THE PRESS
The buildings acquired by Quebec, east of the current Congress Palace, are in critical condition.
The dossier progressed, slowly, laboriously, through the governments. Then came the pandemic. And the roof of the Olympic Stadium risked collapsing.
Result: a large part of the funds from the Quebec Infrastructure Plan intended for the metropolis were redirected to the renovation of the Stadium, which leaves almost nothing for the Palais des congrès.
Why is this problematic?
Over the last decade, major investments have been made in Toronto, Vancouver and Calgary to attract ever-larger conventions that elude the Quebec metropolis. Montreal risks finding itself in the “second zone” category, according to the CEO of the Palais2.
According to a confidential document in my possession, Montreal loses about thirty conferences a year due to the limitations of its premises. Annual losses of almost 170 million for the local economy.
There’s nothing heady or glamorous about hosting conventions, we agree, but it’s an important economic driver for big cities. Last year, events at the Palais des congrès de Montréal generated more than $426 million in revenue, a record.
With an expansion, the arrival of thousands more conventioneers could give new impetus to downtown hoteliers, restaurateurs and retailers, many of whom are struggling.
The Legault government is reluctant to invest in the project3. But what changes the situation this time is Ivanhoé Cambridge’s interest in the case.
This turning point is not trivial.
This branch of the Caisse de dépôt has global assets of 77 billion and a declared intention to invest more in Quebec. The group is currently working on the conversion of the former Royal Victoria Hospital into student residences, in collaboration with the Société québécoise des infrastructures4.
This new type of business model could be reproduced with the Palais des congrès and its surroundings. Ivanhoé Cambridge could contribute large sums to carry out the project, and then receive rental income over the years, which would fully correspond to its profile as an institutional investor.
However, a key ingredient is missing to move forward: a clear mandate from Quebec.
In essence, Ivanhoé Cambridge will not spend millions on feasibility studies if it is not convinced of the seriousness of the issue. Behind the scenes discussions are taking place between the office of the mayor Valérie Plante, that of the minister responsible for the metropolis, Pierre Fitzgibbon, and the inhabitants of Ivanhnoé Cambridge, but everything is still in an embryonic stage.
We’ll see what happens next, but on paper this project would have three concrete benefits: give a shock to the Montreal economy, revitalize a dodgy sector and add a much-needed housing package in the current crisis context.
What else is in Montreal’s downtown recovery strategy?
What was unveiled Tuesday includes several announcements already made, such as the development of new neighborhoods in the Bridge-Bonaventure sector and around the former Molson brewery. There is talk of “accelerating” these projects.
We also want to add new street furniture to the city center, create public art circuits, focus on the winter character of the metropolis, lark. The billion in investments announced by the Municipality largely represents the sum of the sums already allocated.
Montreal wants to invest more to improve cleanliness. This will not be a luxury, since the streets and sidewalks are often repulsively dirty, especially in the eastern part of the city center.
This neighborhood, around the Berri-UQAM station and in the Village, will also receive numerous investments will be made in the coming years, with the construction of a complex of 700 residential units in the former Voyageur block and the renovation of Sainte-Catherine Street East. It may get worse before it gets better, but at least we feel some support.
Another point, not of little importance: Montreal wants to return love to the Latin Quarter, which strangely will be called the “Francophony district”. The municipality plans to transform it into a “24/7” area, with businesses open all night. Quite a gamble, considering that this area has become gloomy even in broad daylight.
The issue of access to the city centre, surrounded by construction sites, appears to have been eliminated from the strategy, which has startled the business community. This is understandable: not all suburbanites will come to see a show at TNM by bike or subway.
But finally everyone seems to want to work in the same direction, to give new impetus to the city centre. This is already a fact, since no one benefits from seeing the economic heart of Quebec decline.
Will we talk about it again in 2030?
2024-01-18 06:14:27
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