Place Versailles owners plan mall's transformation, construction of 5,000 housing units

The owners of Place Versailles, alarge 60-year-old shopping mall in eastern Montreal, are looking to get approval for a $2.2-billion project that would see them demolish at least part of the buildingto make way for a new neighbourhood that would include 5,200 housing units, three parks and a school.

Place Versailles, which was inaugurated in 1963 and has 225 shops,is located steps away from the Radisson Metro station in theMercierHochelaga-Maisonneuveborough. It's recognized as the first shopping mall of its kind in the city.

It's located near Highway 25 and a bus terminus that connects commuters to the city's North and South Shore.

Richard Dubrovskyand John William Gregory are the listed owners on the province's business registry.

The borough department in charge of urban planning and business services, referred to in French as theDirection de l'amnagement urbain et des services aux entreprises, is in favour of the project. It will present the planat Monday evening's borough council meeting.

According to documents made public on the borough's website, theproperty covers about 1.8 million square feet with its4,000 parking spaces taking up about half of that space. Thechange being proposedis meant to reduce the effects of heat islands and densify the area by creating housing.

The borough's documents state that thousands of people move out of the Montreal area every yearand housing projects near Metro stations can help curb that trend.

It's not clear how this proposal could affect the different businesses located inside the mall.

In a statement posted to Facebook, Place Versailles said it was"regrettable that some media outlets have disseminated erroneous information by prematurely announcing the end of Place Versailles."

"In fact, we are on the dawn of a new era for Place Versailles, a time of renewal and innovation," the statement reads. "The commercial vocation of our site will remain predominant and will continue to play a central role in our development."

It also says work on the project will not start for "another two or three years" and businesses inside the mall will be kept in the loop at each step of the process.

According to a statement fromNational, a public relations firm speaking on behalf of the mall's owners, the team behind the project is "workingclosely with municipal authorities to ensure the project's harmonious integration into the urban fabric."

Seeking green light for 25-storey buildings

According to the plans outlined in the borough documents, A little under 30 per cent of the property about 516,000 square feet would still be for commercial use after the demolition and construction work.

The owners are not only looking for demolition approval, they also need a zoning change for the project to go ahead.

According to the borough's documents, current zoning rules where the mall is located only allow buildings of up to eight storeys. The owners' plans include buildings ranging from 12 to 16 storeys, with a few of them expected to be as high as 25 storeys.

About 170,000 square feet would be transferred to the city to create three parks, the documents show.