Construction is now underway on Phase 2 of the housing development at the former CBC/Radio-Canada building site in Montreal, but it won't include any social housing. The Auguste & Louis project has 253 units, with pricing for studios starting at $290,000 and two-bedroom units going for $660,000 and up. Although Montreal 10 per cent affordable and 10 per cent social housing units in building plans, developers from Devimco said they have instead made a contribution to the city to buy out of the social housing requirement. By doing this, said James Goulet, vice-president of acquisitions and development for Devimco, the company can sell at $750 per square foot, which he said is a relatively good deal for the area. Sixty per cent of the units in the building have already been purchased.

Source: CBC News April 18, 2023 18:29 UTC