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Châteauguay puts four million square feet up for sale

mercredi le 19 janvier 2022
Modifié à 14 h 44 min le 19 janvier 2022
Par Valérie Lessard

vlessard@gravitemedia.com

The land that has put up for sale is in purple on the map. The protected portion is the area where no development can be observed. (Photo: Courtesy)

The City of Châteauguay has put some four million square feet of its vacant land in its industrial park met on the market in an effort to attract new businesses. This sale was made possible when the municipality came to an agreement with the Ministry of the Environment which offered financial compensation to fill in wetlands and protect other lots in the park.  

Translation Amanda Bennett

According to Châteauguay Mayor Eric Allard, development in Châteauguay’s industrial park has been “on hold” for a few years due to the presence of wetlands on several of the remaining available lots.

The situation with the Ministry of the Environment resolved itself last fall. The ministry authorized the city to go ahead with filling in the wetlands so that they can be used. In return the city of committed to permanently protecting 3.5 million square feet of wetlands in the industrial park. It also paid $2.7 million in compensation.  

In a presentation made to the media, Mr. Allard indicated that the city made a call for proposals and is confident that the Châteauguay’s industrial park has attraction power thanks to its proximity to Highway 30, which provides quick access to Ontario as well as the United States, and is also quite close to the metropolis. “We shouldn’t forget that in the CMM there isn’t much land like this available in an industrial park,” Mr. Allard said.

$33M and More to Pay for Infrastructures

The city calculates that the sale of its land will generate between $33 and 37 million in revenues. This money will be used to fund additional municipal infrastructures in the sectors of the park that are currently lacking.

“It will completely cover the costs of infrastructures that we will establish in the industrial park,” the mayor explained. “The burden will not be passed on to citizens. It will fund all the new installations.”

Eric Allard, Mayor of Châteauguay

The arrival of new companies will also generate additional revenues from transfer duties and taxes. According to the mayor, the industrial park currently represents 25% of the city’s revenues.

Questioned about whether strategies such as tax exemptions could be used to attract businesses, Mr. Allard responded that it was not in the plans.

The City of Châteauguay states that it has established certain selection criteria for developing its industrial park. Among others, it is calling for buildings to maximize floor space and use natural resources responsibly. Companies that are interested in community involvement and can be part of the circular economy will also be favoured.