Montreal Greenlights $2.2B Mixed-Use Redevelopment at Place Versailles

This Week in Calgary CRE: Montreal Greenlights $2.2B Mixed-Use Redevelopment at Place Versailles

Montreal City Council has approved a bold $2.2 billion, 25-year redevelopment plan to transform the aging Place Versailles shopping mall into a high-density, mixed-use neighbourhood featuring 6,000 residential units, including 1,000 social housing apartments, a school, a hotel, and expansive green space. The project will add two 25-storey towers, with scaled-down heights on adjacent residential streets to address community concerns.

Despite some pushback regarding building height, transit strain, and the potential loss of mall-based small businesses, the city is pushing forward with what it calls a "strong green vision." The site will evolve in phases, preserving retail continuity while gradually replacing surface parking with underground lots, parks, and new housing. A focus on cycling infrastructure and proximity to Radisson Metro station will support transit-oriented development.

For Calgary’s CRE community, the Place Versailles model reflects a growing urban consensus: malls as static retail-only sites are being reimagined into integrated, sustainable communities. As Calgary explores ways to optimize retail footprints, such as at North Hill, Chinook, or Sunridge, Montreal’s experience highlights the extended timelines, community resistance, and infrastructure compromises often involved in transforming legacy mall sites.

Reference: CBC News, “Montreal readies to turn east-end mall into densified neighbourhood with green space,” May 2025. Read article

Connect with ClearView: Curious how mall redevelopments might play out in Calgary? Let’s talk. Contact us at info@cvpartners.ca — we’re tracking retail densification trends across Canada.

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