Groupe HD and Fondaction officially broke ground last week on a development which will ultimately bring nearly 1,200 residential units to a neighbourhood connected to the Olympic District of Montreal.

The Laurea – Quartier d'ambition development will be located on 5505 Chauveau St. in the heart of the Mercier–Hochelaga-Maisonneuve borough and represents and investment of over $425 million. 

"This groundbreaking ceremony represents an important milestone for all the partners and collaborators involved in this ambitious project. We are proud to bring this vision to life alongside Fondaction and the many firms and professionals contributing to the creation of a significant living environment for the sector," Thomas Dufour, co-president of Groupe HD, said in an announcement about the launch of construction.

Affordable units, LEED Gold certification

The residential development will include a diversified residential mix including condominiums, townhouses and rental units as well as over 15 per cent affordable units. The Groupe HD-Fondaction partnership is also targeting LEED Gold environmental certification for the project.

The five-acre site for the development was acquired last summer. It comprises over 210,000 square feet and is currently vacant land.

"At Fondaction, we believe real estate projects should first and foremost make a positive contribution to the communities in which they are developed. In collaboration with Groupe HD, we are proud to support a project focused on residential diversity, quality living environments and the development of a neighbourhood designed to meet the current and future needs of its residents," Chad Ruel, senior director, real estate investments at Fondaction, said in the announcement.

Construction work will be carried out by Construction Praxis, Groupe HD's construction division.

"The launch of construction at Laurea – Quartier d'ambition marks the beginning of a major project that will mobilize several areas of expertise within Construction Praxis. Our teams are already hard at work to ensure rigorous execution and efficient coordination at every stage of the development," François Beaulieu, president of Construction Praxis, said.

About Groupe HD and Fondaction

Quebec-based Groupe HD specializes in real estate investment, development, construction and management. To date, the company is involved in over 20 projects, totalling more than 10,000 residential units. The company currently manages over $4 billion in assets.

It was founded in 2020 by Dufour, a former Cogir and Devimco employee and Jean-Philippe Hébert, formerly of Ivanhoé Cambridge and Cogir. The HD name is a combination of the founders' last names.

Fondaction is a 30-year-old investment fund for individuals and organizations committed to the positive transformation of Quebec's economy in the hopes of making it more equitable, inclusive, sustainable and high performing.

As a labour-sponsored fund created at the initiative of the CSN, Fondaction represents tens of thousands of savers and hundreds of businesses. As of Nov. 30, 2025, Fondaction managed net assets totalling more than $4.25 billion.