The federal, Quebec and municipal governments are investing $49.5 million altogether in an affordable-housing development in downtown Montreal’s Bridge-Bonaventure district.
The project will be the first residential development in Bridge-Bonaventure, where thousands of multi-residential units are slated to be built in coming years.
The project, led by Broccolini in partnership with Bâtir son quartier and the non-profit Point Commun, will include two residential high-rises—one dedicated to non-market housing and the other to market units. The buildings will be constructed in two phases.
The first phase, scheduled to begin in summer 2026, will deliver a 20-storey tower with 376 affordable units at Bridge, Wellington and Saint-Patrick streets in Pointe-Saint-Charles. The $130-million building will include bachelor to three-bedroom apartments, community and commercial space on the ground floor, and is slated for completion in fall 2028.
Funding includes $11.6 million from Ottawa, $25.3 million from Quebec—split between $11.6 million in direct funding and a $13.7-million patient loan—and $12.06 million from the City of Montreal.
Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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Ponderay Apartments, a 40-unit multifamily property located at 5625 15th Ave NE in Seattle’s University District, sold for $6.26 million, equating to $156,625 per unit. Built in 1963, the property totals 21,540 square feet and consists of 22 one-bedroom units and 18 studio apartments. The studios average 478 square feet, while the one-bedroom units average...
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TruAmerica Multifamily acquired Bricks at Perimeter Center for $120 million. Clark Ventures was the seller of the 446-unit, garden-style apartment community in Atlanta’s Perimeter Center submarket. Clark paid $69.5 million for the property in 2016. TruAmerica will revamp nearly all of the rooms in the complex, which was built in 2007. The company plans to incorporate...
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