The Government of Québec has mandated Caisse de dépôt et placement du Québec (CDPQ) to study the creation of a world-class inter-university campus

​The Minister of Finance, Mr. Eric Girard, the Minister Responsible for Infrastructure, Mr. Jonatan Julien, and the President and Chief Executive Officer of Caisse de dépôt et placement du Québec (CDPQ), Mr. Charles Emond, announce the conclusion of an agreement in principle to conduct a feasibility study on converting a portion of the old Royal Victoria Hospital site into a world-class inter-university campus.

Through this pubic-private partnership, the proposed project will involve creating an inter-university campus that will consist mainly of student housing, as well as a research incubator, local shops and offices. This initiative is in line with the spirit of discussions held during hearings on the site redevelopment project led by the Office de consultation publique de Montréal. This project will contribute to strengthening Montréal’s role as a leading university city and significantly expand student housing, which is in short supply.

Located in the heart of the Mount Royal heritage site, the project will be developed with due regard to the built and natural heritage and in consultation with the community and stakeholders.

Following the feasibility study, which will be conducted by Ivanhoé Cambridge, CDPQ’s real estate subsidiary, the government will decide if it will award the project to CDPQ for execution. If applicable, a development agreement will be concluded at that time. CDPQ aims to present the government with a solution in 12 to 18 months.

“This project is perfectly aligned with CDPQ’s dual mandate to grow depositors’ assets and contribute to Québec’s economic development. The organization’s world-renowned expertise in real estate will help Montréal shine as a university city.” Eric Girard, Minister of Finance and Minister Responsible for Relations with English-Speaking Quebecers

“The feasibility study by CDPQ will permit the government to leverage a leading real estate solution for redeveloping part of the old Royal Victoria Hospital site, a treasure at the foot of Mount Royal, under the responsibility of the Société québécoise des infrastructures.” Jonatan Julien, Minister Responsible for Infrastructure and Minister Responsible for the Capitale Nationale Region

“We are delighted to lend our global real estate expertise to assess the redevelopment potential of this emblematic location for the city. Ivanhoé Cambridge, our real estate subsidiary, will spend the coming months analyzing the essential feasibility to determine the conditions for executing this large-scale project that will enhance Montréal’s status as one of the best cities for students in the world. Ultimately, this is an investment for future generations that will also contribute to funding the retirements of Quebecers.” Charles Emond, President and Chief Executive Officer of Caisse de dépôt et placement du Québec

“This project reflects our ambition to revitalize downtown Montréal and invest in a real estate project that meets real needs for housing in Québec. We look forward to beginning the feasibility study for the project, with due regard for the built heritage and following the highest sustainable development standards.” Nathalie Palladitcheff, President and Chief Executive Officer of Ivanhoé Cambridge

Link to the agreement in principle (in French only)