MONTRÉAL, June 16, 2025 /CNW/ - Groupe HD, in partnership with Kastello Immobilier and CPD Immobilier, is launching the redevelopment of the site located at 2601 Jarry Street East, in the heart of Montreal's Saint-Michel neighbourhood.
The project involves the construction of a six-storey residential complex featuring 380 rental units and more than 20,000 square feet of commercial space. This investment of over $150 million is part of an ongoing revitalization of the area, driven by planned densification and a strong demand for quality, well-served housing.
"By harnessing the potential of this evolving sector, Groupe HD is once again committed to creating sustainable living environments that align with the transformation of neighbourhoods and the people who live in them," says Thomas Dufour, Co-President of Groupe HD.
Located near Frédéric-Back Park, the Cirque du Soleil headquarters, and the TOHU, the site is also within walking distance of the Saint-Michel metro station. It benefits from a strategic location with excellent access to public transportation (bus, BIXI, REV) and proximity to essential services, including retail, schools, and healthcare facilities.
"Kastello Immobilier is proud to contribute to the development of a high-quality living environment in a neighbourhood undergoing major change, while also integrating nearly forty affordable housing units," says Mathieu Colette, Partner and Vice-President of Real Estate at Kastello Immobilier.
The project aims to support the long-term revitalization of the sector and offers a mix of residential and commercial uses in line with the borough's urban planning orientations. Construction will be carried out by Construction Praxis, the construction division of Groupe HD. The work is scheduled to begin at the end of 2025.
"CPD Immobilier is pleased to partner with Groupe HD and Kastello on this new residential development at 2601 Jarry Street East. This new collaboration marks a significant milestone in our shared commitment to building sustainable, innovative, and human scale living environments," says Alexandra Kau, President of CPD Immobilier.
This partnership represents a key moment in the evolution of the Saint-Michel neighbourhood, bringing forward a new residential and commercial offering tailored to the current and future needs of the community.
Project Overview
Investment: $150 million
Developer: Groupe HD
Financial Partners: Kastello Immobilier and CPD Immobilier
Lender: Otéra Capital (CDPQ)
General Contractor: Construction Praxis
Architects: NEUF Architect(e)s
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 7,000 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 60 professionals, the company currently manages over $3.0 billion in assets.
For more information: groupehdimmobilier.ca.
About Kastello
Kastello is a family-owned investment company with deep expertise in real estate development. It was founded in 2018 by the Fortin family of Couche-Tard fame, a name well known in Québec's business landscape. Its subsidiary, Kastello Immobilier, focuses on residential real estate investment, particularly through acquisitions, joint development with real estate partners, and long-term management of its rental properties. Kastello's portfolio primarily consists of multi-residential buildings held for the long term.
For more information: kastello.ca
About CPD Immobilier
CPD is a fast-growing private real estate company that develops, acquires, and manages shopping centres in the Greater Montréal area, as well as in Ottawa and Toronto. With over 40 years of experience, CPD began as a retail business before evolving into a real estate developer and investor. Headquartered in Montréal, the company now holds a diversified portfolio. In addition to its commercial real estate expertise, CPD also acts as a real estate family office, strategically investing in multi-residential projects. This long-term, legacy-driven approach allows the company to manage its assets sustainably while fostering steady growth.
For more information: cpd-developments.com
SOURCE Groupe HD
For more information about this transaction or upcoming projects, please contact: Isabelle Drolet, Director of Marketing and Commercialisation, (514) 775-4758, [email protected]; Groupe HD, 1751 Richardson Street, Suite 5.109, Montréal, QC H3K 1G6, groupehdimmobilier.ca
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