The project was launched seven years after the acquisition of three properties along Peel Street.

The first phase of construction will begin in September and will include a 15-story, 115,000-square-foot building housing 155 residential units.

The cost of this first phase is estimated at $61 million.

The second phase, scheduled to begin in early 2026, will see the construction of a 15-story, 270,000-square-foot tower comprising 312 residential units.

The cost of this phase is estimated at approximately $135 million. The construction of each phase is expected to take about 30 months.

The third building, located at 280 Young Street, will house approximately 280 residential units.

However, no date has yet been set for the start of this phase, as the site is currently occupied by an automotive service center.

The promoter had to overcome several obstacles to obtain the necessary permits for this project.

Initially, the City of Montreal had zoned the property for commercial use and rejected Mondev's initial plan for residential development.

However, after public consultations and zoning changes by the city, the promoter finally obtained the necessary permits to demolish the existing structures and begin construction.

The project will also include approximately 15,000 square feet of commercial space, and 10% of the units will be family apartments with three bedrooms.

Mondev, which has primarily developed rental projects over the past 15 years, continues to respond to the growing demand for rental housing in Montreal, despite the challenges posed by high interest rates and rising construction costs.

This project represents a significant milestone for this entrepreneur and the Griffintown neighborhood.

It offers new housing options and contributing to the ongoing revitalization of this rapidly expanding area.