Groupe HD, Capital Property Developments and Kastello are showing continued optimism in the Montreal housing market with their plan to build a 525‑unit rental complex in Longueuil.
The $200 million project planned for 550 Roland-Therrien Boulevard involves the redevelopment of a site with over 450,000 square feet of buildable area in the Vieux-Longueuil district. Construction is scheduled to begin in 2026, led by Construction Praxis, Groupe HD’s building division.
The rental housing development is close to major employers and schools, including Pratt & Whitney Canada, which has over 5,000 employees, and Cégep Édouard-Montpetit, with nearly 7,000 daily students. The site is located approximately 2.5 kilometres from the LongueuUniversité-de-Sherbrookeoke metro station and served by several bus routes. Parks, retail and healthcare services are within walking distance. Parking details are not yet known.
“This site fits our ambition to develop projects in high‑potential locations,” Groupe HD co-President Thomas Dufour said in a statement.
The deal points to confidence in the suburban Montreal area rental market, an area that has thus far been spared some of the downturn in housing values and construction starts seen elsewhere in Canada. The Montreal area posted several months of triple-digit year-over-year increases in apartment construction, including a 212% increase in July and a 135% surge in September, according to Canada Mortgage and Housing Corp. data.
The construction trend continued in October and November, with gains of 104% and 24%, respectively, driven largely by multi-unit developments and purpose-built rental projects, according to CMHC data. This rebound follows sluggish construction activity in 2024.
Aligns with urban plan
Kastello was founded by the Fortin family, best known for creating Alimentation Couche‑Tard, the global convenience store operator behind Circle K. Richard Fortin, who co‑founded Couche‑Tard in 1984 and served as CFO until 2008, is Eric Fortin’s father. Richard Fortin remains a major shareholder and board member of Couche‑Tard. His estimated net worth is about $1.8 billion USD, or roughly $2.4 billion CAD, according to Forbes. The family launched Kastello in 2018 to diversify its holdings into residential real estate.
Vieux‑Longueuil has a population of about 146,388 and a density of 3,236 residents per square kilometre. Over recent years, property values have risen steadily, with condo prices up 6% year‑over‑year and plex sales up 33% in the past four quarters, according to regional statistics.
Longueuil’s urban plan calls for major investments in infrastructure and housing, including the Longue‑Rive redevelopment, which would add about 5,000 units and new public spaces, supporting continued growth and densification, according to the city website.
Both Groupe HD and Kastello often partner on major projects. Recent examples of their working together include a nearly 1,000‑unit transit‑oriented development near the future Anjou metro station and the $190 million Elan and Momento project near Assomption metro. Groupe HD has also worked with Omnia Technologies on the $125 million Citizia development on Cavendish Boulevard.
“Our collaboration is based on a shared vision to invest in promising locations and create long‑term value," Capital Property President Alexandra Kau said in a statement.
For the record
Architects NEUF Architectes will design the complex, and MCAP is providing financing.