MONTREAL, April 24, 2026 /CNW/ - Groupe HD announces plans for a major new residential project in the heart of downtown Montreal, at 1355 René-Lévesque Boulevard West, on the site of the former YWCA building. This redevelopment will contribute to the transformation of a strategic site and to the evolution of the surrounding area.
The project includes the construction of a rental residential building with over 400 units, spanning 30 storeys, and featuring a commercial component at street level. The development represents an investment of over $200 million.
A clear commitment to downtown
At a time when many residential projects are expanding into peripheral areas, Groupe HD has chosen to invest in downtown Montreal, leveraging its strategic role and long-term potential.
"Downtown remains a key hub of Montreal. We believe in its capacity to evolve and in the importance of maintaining a high-quality residential offering. This project is part of a long-term vision aimed at actively contributing to its vitality," said Thomas Dufour, Co-President of Groupe HD.
This initiative is driven by an opportunistic strategy, supported by a context of stable land prices in the Golden Square Mile, an iconic sector of downtown Montreal, enabling the development of this site as a rental residential project and positioning it as a flagship development in the Ville-Marie borough. The project also aligns with a broader objective of diversifying the financial and real estate assets of Groupe HD's partners.
Redevelopment of a strategic site
The project involves the demolition of the existing building, which has become fully obsolete, following the relocation of YWCA activities to the eastern part of the city in April 2025. This will allow for the redevelopment of an already serviced site and the implementation of a project better suited to current needs.
From an architectural standpoint, the project is designed to align with the existing streetscape, with a commercial base integrated into the built environment and a residential tower set back above. This approach ensures cohesive integration within the sector while optimizing site density. The inclusion of commercial spaces at street level will also contribute to the vitality of the public realm.
"This project is built on strong fundamentals, including a central location and excellent accessibility, in a downtown area that continues to evolve. It reflects a long-term investment vision focused on creating lasting value," said Alexandra Kau, President of Capital Property Developments (CPD).
A TOD project in a strategic sector
Located in immediate proximity to Lucien-L'Allier metro and train stations, a key transportation hub in downtown Montreal, the project follows a transit-oriented development (TOD) approach. This location offers efficient access to urban mobility networks, major employment hubs and downtown services.
The site also benefits from a high-quality surrounding environment, with nearby corporate offices of major financial institutions such as TD Bank and Laurentian Bank of Canada, prestigious hotels including Holiday Inn & Suites and Warwick Le Crystal, as well as several Concordia University buildings.
Through its location, height and residential use, the project will contribute to the renewal of housing in downtown Montreal, specifically within the Ville-Marie sector, and will play an active role in the transformation of this strategic urban hub. It also reflects Groupe HD's commitment to playing a long-term role in the development and evolution of downtown Montreal.
The demolition of the existing building is fully approved, enabling construction of the new project to commence in fall 2026.
Project Summary
- Total investment: $200 million
- Developer: Groupe HD
- Financial partners: Capital Property Developments
- Lender: Desjardins, Real Estate Financing Group
- General contractor: Construction Praxis
- Architects: NEUF Architectes
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.
About CPD Developments
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, 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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