The Gay Village is a vibrant neighborhood in downtown Montréal. It’s surrounded by some of the city’s most iconic landmarks, such as the Lafontaine Park and Jacques-Cartier Bridge.
Formerly a working class neighborhood, it progressively became the home of the gay community since the 1970s, attracting residents and businesses alike. A series of highly visible public art projects have given the Village its unique visual signature and artistic feel. As a result, the Village has undergone an impressive transformation, making it an attractive investment opportunity. Le Bourbon is one of the area’s most prestigious and visible large-scale residential projects, which is sure to provide great return on investment as the area keeps becoming more desirable for people from all walks of life. Here are five reasons why it’s a great time to invest in the Gay Village.
Reason #1: Downtown Montréal is Canada’s Hottest Neighborhood for Investing in Real Estate
Montréal’s real estate market is reaching historical levels. The amount of available units for sale has diminished for the 45th consecutive month. With demand skyrocketing, there are 11% less units available in downtown Montréal over the past year, even though there are new constructions to supply the demand. In the last quarter, condo sales have gone up by 2% in the Island of Montréal and 8% in Ville-Marie. The median price of condominiums has risen by 10% in Ville-Marie, and 8% on the Island of Montréal. Ten years ago, there wasn’t much going on in Griffintown and the Peel Basin. Now it’s one of Canada’s fastest growing areas. The Village’s proximity to the downtown core combined with its famous nightlife and restaurant scene make it a highly attractive opportunity for those who like to invest in their own lifestyle.
Reason #2: The Burgeoning Nightlife & Restaurant Scene
From Bouillon Bilk to Le Mousso, Complexe Sky and the legendary Stereo Bar, The Gay Village and surrounding areas are the home to some of Montréal’s most trendy and renowned restaurants, bars and nightclubs. As the neighborhood grows, new spots are set to keep making it a must for locals and tourists alike. Le Bourbon’s future residents will be able to walk to all of these places, as well as Le Quartier Latin and Chinatown.
Reason #3: Residents Will Soon Have Better Access to the St-Lawrence River
Molson-Coors, North America’s oldest brewery, shut its doors and moved its operations to Longueuil. Its site will be transformed to include proximity businesses and green spaces, aligned with a vision that is “inclusive and innovative for Montrealers”.
The City of Montréal recently announced public consultations to improve the access to the St-Lawrence River, under the Jacques-Cartier bridge. The Village Au-Pied-du-Courant is an example of how creative minds have created memorable experiences for everyone. It’s now become one of the prime locations to enjoy the fireworks in the summer.
Just like Griffintown, the Centre-Sud used to rely heavily on industry. However, its proximity to downtown and the old port, and the presence of high-value investments have made it a hub for fresh ideas.
Reason #4: The New Maison Radio-Canada is Set to Open in a Few Months
Radio-Canada, the CBC’s French language television and radio service, will be replacing its current center of operations by a brand new media center, dubbed the Maison Radio-Canada. It will be accessible to the public by early 2020. Le Bourbon residents will be able to walk there in less than 10 minutes. Get a sneak peek at the exciting project here.
Reason #5: The Beaudry Metro Station Will Be Totally Revamped by Spring 2020
Inaugurated in 1966, Beaudry is one of Montréal’s most iconic metro stations. It’s also the only one with a long-running escalator with a stunning view. Its rainbow colored masts pay tribute to the diverse community in the Gay Village. Metro users may have noticed that lately, trains have been skipping it between Berri-UQAM and Papineau stations due to renovation. This past June, the station was reopened to the public. Though the renovation work is still underway, it will be completed by March 2020.
An Ideal Location for a Long-Term Investment
Condominium buyers are interested in having a great living space to call their own, but location a key factor that can make an investment worth while. The Gay Village is already an awesome neighborhood. But it’s only going to get better for the Centre-Sud sector, in the eastern part of the Ville-Marie borough. With a series of high-value projects near the Saint-Lawrence river as well as the renovated metro station and active food scene and nightlife, the Village is becoming one of Montréal’s real estate hot spots. Le Bourbon is in a prime location in the Village, and will become one of its most recognizable buildings. Benefit from our preferential construction pricing and invest in a project that promises phenomenal growth.