Vacancies: Difficulties confirmed at Sainte-Catherine

Despite signs of improvement, many of Montreal's main commercial arteries continue to struggle, starting with streets Sainte-Catherine and Sainte-Denis.

“The situation of these two legendary arteries is very problematic,” analyzed Christian-Pierre Côté, a partner at Cote Mercier, specializing in real estate data collection.

“These are two arteries that are under reconstruction, completely redefining their careers. Despite a lot of attention, expertise and money being given to them, the work is not done and we must continue.

Last July, the percentage of vacant commercial premises in Sainte-Catherine was 17.8%. In other words, no fewer than 111 of the 622 commercial spaces along the 11-kilometer stretch of this street are vacant, rented or completely abandoned.

Surprisingly, Sainte-Catherine East is one of the least favorable commercial areas in the metropolis. Roughly speaking, according to Côte Mercier, one in five (19.9%) windows on this central artery of the Village offer nothing more to passers-by than empty spaces.

Saint-Catherine Street West, measured between Atwater and Saint-Urbain streets, fared better with a vacancy rate of 15.3%, compared to last year (14.4%). However, the situation there remains difficult – particularly west of Peel Street – with the vacancy rate reaching 19.1% in July.

Naturally, ongoing construction work there and resistance by teleworkers to return to their downtown offices is wreaking havoc on the sector, Mr. Cote notes.

Christian-Pierre Cote, Cote Mercier, Data Services Partner

Courtesy: Côté Mercier.

The latter yesterday unveiled the results of its annual report on no fewer than 63 major commercial arteries in the province this year. Despite improvements, the latter cited continued difficulties with a 15% vacancy rate on rue Saint-Denis.

It turns on the red light towards Monkland Street in Notre-Dame-de-Grace, which doubled the proportion of unoccupied storefronts in a year, from 4.3% to 8.6%.

We have to take care of that, he said, citing the apparent success of the work on Plaza Saint-Hubert as an example. After many years of hard work, the covered street was found this year with only 6.5% vacant lots.

Percentage of empty spaces by arteries

Commercial arteries 2023 2024

Saint-Viator 10.9% 1.8%

Mason 3.2% 4.0%

Mount Royal 5.9% 6.1%

Plaza Saint-Hubert 9.2% 6.5%

Saint-Laurent 7.1% 8.4%

Monkland 4.3% 8.6%

Saint-Denis 16.6% 15.0%

Ste-Catherine West 14.4% 15.3%

Ste-Catherine East 21.5% 19.9%

Source: Quote Mercier, Data Service