BELAIR
MONTREAL
BELAIR
MONTREAL
Strategy
Research
Belair is a two-tower, 140-unit multifamily complex located in Montréal’s Côte-des-Neiges–Notre-Dame-de-Grâce borough—one of the city’s most in-demand rental submarkets due to its proximity to universities, healthcare hubs, major employment corridors, and multiple transit lines.
Despite strong location fundamentals, the property was significantly underperforming. Layouts were outdated and underutilized, bedroom count was limited relative to floor plate potential, and common areas no longer met modern renter expectations. The asset presented a major opportunity for unit densification, modernization, and rent repositioning across an 80,000 sq.ft. community footprint.
1. Right-size and densify units
Unlock hidden value by increasing bedroom count and optimizing layout efficiency.
2. Improve NOI performance
Address weak revenue growth and high operational inefficiency inherited from prior management.
3. Execute renovations during occupancy
Modernize units and common areas with minimal downtime and no major disruption to existing residents.
4. Reposition the asset
Transform the perception of the towers from aging, outdated stock into a modern residential community aligned with current renter expectations.
5. Accelerate leasing and improve tenant profile
Use data-driven marketing and leasing tactics to attract residents seeking value, functionality, and renovated living spaces.
+56.6%
Increase in NOI within 6 months
144%
Increase in dollars per square foot
95%
lease-up by September peak season
91%
Tenant Satisfaction Score
1. Unit Densification & Layout Optimization
- Increasing total bedroom count
- Modernizing kitchens and bathrooms
- Rebalancing unit types to match local demand patterns
2. Full Renovation Program
- Modernizing 140 units
- Upgrading common areas
- Improving lighting, flooring, fixtures, and interior finishes
- Introducing efficient layouts without requiring invasive structural work
3. Leasing Strategy & Tenant Mix Reset
- Implemented structured follow-up systems and targeted marketing
- Focused on renter segments seeking value + functionality
- Strengthened screening and tenant selection criteria
- Used optimized pricing and positioning to raise rent while reducing turnover
4. Brand & Perception Reset
- Updating signage, visual identity, and digital presence
- Creating high-quality visuals and marketing content
- Reframing the asset narrative around renovated, spacious, value-driven units
