Summary#
Montréal city council unanimously adopted a position to approve transferring the City’s rights in the emphyteutic lease (a long-term land-use arrangement) for 7520–7530 and 7540–7550 avenue André-Ampère, in Rivière-des-Prairies–Pointe-aux-Trembles, to Communia for $0. The agglomeration council makes the final decision at a later meeting.
- The transfer is conditional on the Canada Mortgage and Housing Corporation (CMHC) first transferring its leasehold rights to Communia, the project’s full financing being confirmed, and the signed deed being substantially consistent with the draft.
- The deed would require Communia to complete the project within two years of signing and keep the property for affordable, social or community housing for 80 years. That restriction would also apply to future owners.
- City staff say the transfer would allow Communia, a non-profit, to renovate the buildings and keep them in social housing. The project is estimated to cost about $8,294,667.
What it means for you#
- Residents: The decision does not set new tenant rules or promise specific renovations. If the transfer proceeds, the deed would require the housing use to continue for 80 years.
- Communia: It would receive the City’s rights without paying the City, but would take the property without a City guarantee and at its own risk. It would have to meet the deed’s conditions.
- City: It would give up its rights and stop receiving the lease payments. The City’s position is not itself the completed transfer.
Money#
The transfer is for $0; the available material gives no estimate of the City’s cost to administer it.
- City staff estimate the City’s rights were worth $1.82 million as of June 1, 2023.
- The City would give up about $93,588 in future lease payments, calculated as of June 1, 2026.
- A $5.135 million interest-free City loan for this property and two other former co-operatives remains in place. How it will be divided among them is still under discussion. A separate project loan is being considered, not confirmed.
What is unclear#
- The decision depends on confirmation of all project financing; the available material does not say whether or when that will happen.
- The City’s decision does not specify how the existing loan will be allocated among the three properties.
- The draft deed’s conditions apply, but the available material does not describe how compliance with the 80-year housing restriction will be monitored or enforced.
Case for#
- City staff say the project is not financially viable without the City and CMHC transferring their rights without payment.
- The transfer could enable major repairs and preserve the property for affordable, social or community housing for 80 years, including under future owners.
Case against#
- The City would receive no payment despite staff’s estimate that its rights were worth $1.82 million in 2023, and would give up about $93,588 in future lease payments.
- Full financing is not yet confirmed, and the decision does not explain how the City will ensure the repair deadline and long-term housing restriction are met.