Montreal’s Gay Village Ready for Retail Revival Amid New Area Developments: Developer
Montreal boutique developer MTRPL has a knack of finding unique but under-utilized or unused, buildings in high traffic areas and turning them into gems that not only fit into their neighbourhoods but draw people to those areas.
The latest project is a historic bank property from the 1920s located on Sainte Catherine E in the heart of Gay Village, said Bryan Spatzner Co-Founder of MTRPL.
“It’s a primary commercial artery that is in need of some urban revitalization, which we plan to be a big part of. The area has a tremendous amount of master planned projects going on. The city of Montreal has coined the area the Quartier des Faubourgs.
“We’ve certainly been busy and Gay Village, Sainte Catherine Street is like a new area we’ve identified as a target.”
The building was originally built by the District and Savings Bank which later was purchased by the Laurentian Bank. In the early 2000s, Laurentian divested most of its real estate. The building is 18,000 square feet with two upper floors fully leased out to the Quebec government.
“There’s about 6,000 square feet of vacant space on the ground floor which is where we create the value and where we’re looking for a tenant. It’s a beautiful space,” said Spatzner, adding it has coffered ceilings, a marble floor, intricate woodwork throughout, gold leaf on the ceiling, with about 15-foot high ceilings, arched windows.
It’s at the corner at Saint-Timothée Street right next to the Metro Station.
Complete article from Retail Insider