Transaction Closed — Acquisition of a Major Residential Site by a Non-Profit Social Housing Developer

Landerz is proud to announce the closing of a significant transaction involving an exceptional development site located at 1600 Boulevard Henri-Bourassa, in the heart of the Maizerets neighborhood, within the La Cité-Limoilou borough of Quebec City.

The 78,232 sq. ft. site, owned by Groupe Brivia, stands out for the quality of its institutional and residential surroundings. A regulatory review initiated by the City of Quebec aims to facilitate the conversion of this area to large-scale residential use, supporting a vision of integrated and sustainable urban development.

The buyer, Socialim, a non-profit organization supported by the OMHQ, specializes in social housing development, including the administration, management, development, construction, and renovation of residential projects. Socialim’s mission is to create affordable and social housing units.

Located near the Nouveau Complexe Hospitalier (NCH) of the CHU, Cégep de Limoilou, and the future route of the electric tramway, the site offers strong potential for high-density residential development in a sector set to undergo significant transformation in the coming years. The NCH, combining the activities of Hôtel-Dieu de Québec and Hôpital Enfant-Jésus, is expected to open by 2029 with approximately 175,000 m² of medical space and ±700 beds, at an estimated cost of $2 billion.

We congratulate both parties on this transaction and wish the buyer every success in bringing this project to fruition.

Leveraging its knowledge of the land market, Landerz played a key role in connecting the parties and structuring the transaction. This operation demonstrates Landerz’s ability to support developers, investors, and institutions in the execution of complex real estate projects.

Robert MacDougall and Sylvain Bernèche acted as the listing brokers.