Quebec invests $123M to redevelop site in East Montreal

Quebec is providing nearly $123M to accelerate the acquisition, decontamination, and redevelopment of a large parcel of land in eastern Montreal.

Quebec is providing nearly $123 million to accelerate the acquisition, decontamination, and redevelopment of a large parcel of land in eastern Montreal, where Premier Christine Fréchette hopes to establish “promising and strategic” sectors that will create jobs.

The site of the former Esso refinery, which closed more than 40 years ago, covers nearly seven million square feet—the equivalent of 50 Costco stores or 25 IKEA locations, as Fréchette explained during a press conference on Tuesday.

The vast plot of land is located near major highways, port and rail facilities, and residential areas.

The premier would like to see the site “transition from brownfield to greenfield” with the arrival of companies in clean technology or energy transition, among others.

“It could also extend beyond” these fields, she noted, citing “promising and strategic sectors that will help create well-paying jobs” related, for example, to aerospace, artificial intelligence, and defence.

“The vision isn’t set in stone. It will be developed in consultation with local stakeholders,” said Fréchette. But for the premier, there is no question of ending up “with a series of very large warehouses that create very few jobs.”The funding from Quebec will support the Société de mise en valeur de terrains dans l’Est de Montréal (SMTEM), established by Fondaction Gestion d’actifs. The $122.9 million in support takes the form of an investment in SMTEM shares through Investissement Québec.

Fréchette, who previously served as president and CEO of the East Montreal Chamber of Commerce, said she had been dreaming of this announcement for ten years.

SMTEM director Stéphan Morency hopes that the investment announced on Tuesday “will accelerate the implementation of a very ambitious vision” for these millions of square feet.

“We don’t want heavy, single-industry reindustrialization. What we want is a mixed-use development where people living in East Montreal will want to live there even more,” he said.

Montreal Mayor Soraya Martinez Ferrada, who was present at the announcement, believes that the site’s transformation should also serve as an opportunity to build livable communities for residents of the city’s east side.

Fréchette notes that decontamination could take between five and ten years, depending on the specific sections of land. She hopes the federal government will step up to fund the construction of future infrastructure, such as sewers, water mains, and electricity.

Eastern Montreal has approximately 30 million square feet of abandoned industrial land that needs to be decontaminated and revitalized, Fréchette noted.

In addition to the new $123 million contribution, the Quebec government has invested $200 million since 2019 in the redevelopment of land in the eastern part of the city.

- Frédéric Lacroix-Couture

- This report by The Canadian Press was first published in French on June 30, 2026.