A groundbreaking ceremony marking the beginning of a major new living environment in East Montreal
MONTREAL, May 25, 2026 /CNW/ - Groupe HD and Fondaction held the official groundbreaking ceremony last Wednesday, May 20, for Laurea – Quartier d'ambition, a major residential development located at 5505 Chauveau Street, in the heart of the Mercier–Hochelaga-Maisonneuve borough.
The event brought together partners, collaborators and professionals involved in the conception and development of the project, highlighting the official launch of this large scale living environment, which will ultimately include close to 1,200 residential units in a neighbourhood connected to the Olympic District.
Developed by Groupe HD in partnership with Fondaction, the project represents an investment of more than $425 million and will offer a diversified residential mix including condominiums, townhouses and rental units. The development will also include more than 15% affordable units and is targeting LEED Gold environmental certification.
"This groundbreaking ceremony represents an important milestone for all the partners and collaborators involved in this ambitious project. We are proud to bring this vision to life alongside Fondaction and the many firms and professionals contributing to the creation of a significant living environment for the sector," said Thomas Dufour, Co-President of Groupe HD.
"At Fondaction, we believe real estate projects should first and foremost make a positive contribution to the communities in which they are developed. In collaboration with Groupe HD, we are proud to support a project focused on residential diversity, quality living environments and the development of a neighbourhood designed to meet the current and future needs of its residents," added Chad Ruel, Senior Director, Real Estate Investments at Fondaction.
With this groundbreaking ceremony, Groupe HD, Fondaction and all project collaborators are officially launching the development of Laurea – Quartier d'ambition. Construction work will be carried out by Construction Praxis, Groupe HD's construction division, marking the concrete beginning of a project set to sustainably transform the sector.
"The launch of construction at Laurea – Quartier d'ambition marks the beginning of a major project that will mobilize several areas of expertise within Construction Praxis. Our teams are already hard at work to ensure rigorous execution and efficient coordination at every stage of the development," said François Beaulieu, President of Construction Praxis.
About Groupe HD
Groupe HD is a Quebec-based company specializing in real estate investment, development, construction, and management. The firm is committed to redefining tomorrow's housing by designing and delivering large-scale projects that meet the needs of communities and municipalities. To date, the company is involved in over 20 projects, totaling more than 10,000 residential units, including condominiums, rental buildings, and private seniors' residences. Groupe HD continuously rethinks and adapts its practices to create integrated living environments for today and future generations. Backed by a team of 80 professionals, the company currently manages over $4.0 billion in assets. For more information, visit groupehdimmobilier.ca or our LinkedIn page.
About Fondaction
A pioneer for nearly 30 years, Fondaction is the investment fund for individuals and organizations committed to the positive transformation of Quebec's economy -- making it more equitable, inclusive, sustainable and high performing. As a labour sponsored fund created at the initiative of the CSN, Fondaction represents tens of thousands of savers and hundreds of businesses dedicated to advancing Quebec's development. As of November 30, 2025, Fondaction managed net assets totaling more than $4.25 billion, invested largely in hundreds of businesses and financial markets, with a focus on investments that generate positive economic, social and environmental impacts in addition to financial returns. Fondaction contributes to job retention and creation, the reduction of inequalities and the fight against climate change. For more information, visit fondaction.com or our LinkedIn page.
SOURCE Groupe HD
For more information about this transaction or upcoming projects, please contact: Isabelle Drolet, Vice President, Marketing and Commercialization, (514) 775-4758, [email protected]; Groupe HD, 1751 Richardson Street, Suite 5.109, Montréal, QC H3K 1G6, groupehdimmobilier.ca
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