Sold for $25 Million -Former Montreal Children’s Hospital

This isn’t the first nor will be the last time you’ll hear about the former Montreal Children’s hospital building. Right from the get-go, and even before the old moved into the new hospital, there were rumours of a new community development plans for the 120,000 square-meter-site.

On Dec 1st, the building was finally sold to a Montreal developer for $25 million, even though it has a city evaluation of just over $45 million.

Black Friday discount, you say?

According to the MUHC, they accepted an unconditional offer that…

“resulted in an expeditious sale, which has minimized the costs of operating the legacy sites at the MUHC’s expense”

Fast sale to alleviate operating costs? It seems that way. The former hospital site’s been empty since September 2015, costing $2 million a year in expenses for heating, security and maintenance.

So what can we expect from the new development?

Nothing has yet been confirmed but some ideas are circulating… A condo development being one of them (Gasp! Really?). Other honorary mentions are offices, senior residences, stores and a baseball stadium.