The city of Montreal is buying 700 housing units in Côte-des-Neiges Notre-Dame-de-Grâce to keep them off the market and alleviate the housing crisis.
With a $103 million dollar move, the city will use its right of first refusal to buy around 30 apartment buildings, most of them just east of Côte-des-Neiges road in an area local politicians describe as fairly low income and at times rough.
The city plans on keeping rents affordable in these units, but have not come to a decision on how those rents will be set. This task will be in the hands of Montreal’s municipal housing office.There are also repairs to be done on many of the buildings, the city plans on getting these done without permanently displacing current residents.
