Student housing development in the works for downtown Montreal

A new student apartment building is coming to downtown Montreal, just a few metro stops away from Concordia, McGill and UQAM.

Located on the corner of St-Laurent Boulevard and Ontario Street, the former metal venue Katacombs will turn into "Le Méridien," a residence housing up to 281 students by the start of the 2026 academic year.

That's the plan outlined by city officials Wednesday morning, who announced an investment of $6.3 million into the project.

Student housing nonprofit UTILE will bring the blueprints to life. The company is also behind the Woodnote development in Plateau-Mont-Royal, which houses 144 students, and Rose des Vents in Rosemont-La Petite-Patrie, where 161 students live.

"Students form a segment of the population among those most affected by the current economic situation and the housing crisis," reads a statement from Benoit Dorais, vice president of the city's executive committee.

"The projects of the UTILE organization directly respond to this need not met by other government programs, while helping to reduce pressure on large private rental housing, particularly for families."

There were over 170,000 students enrolled in Montreal universities in the Fall 2022 semester, according to the Bureau de coopération interuniversitaire (interuniversity cooperation bureau). Over 20,000 of them were international students.

In addition to the City of Montreal's investment, UTILE will receive a $8.2 million loan from the FTQ union's Fonds immobilier de solidarité (real estate solidarity fund) and a $1.5 million contribution from the Students' Society of McGill University. Because of this, McGill University will get priority at Le Méridien.