2026-09-25
Plans are for shovels to go in the ground in March 2027 with completion by January 2029.
The hotel project was previously approved by the city and Oktodev is in the process of updating the permit.
Ipso Facto recently acquired 165 unsold condominiums at Phillips Square for $65 million and plans to convert the units into rental housing.
Chaîné said the demand for hotels is strong in Montreal, with occupancy rates having reached close to 80 per cent last summer.
“The market is really attractive for different brands,” he said. “Hotel brands have been trying to enter Montreal for the past 24, 36 months. There’s a lot of interest around the site and hotels in general in Montreal.”
