Montreal CRE 2026 Outlook: Office Comeback, AI, Housing Policy, and Where Capital Is Moving

Montreal commercial real estate is entering 2026 with a very different set of tailwinds and constraints. In this episode, Axel Monsaingeon sits down with James Papadimitriou, Senior Partner at McCarthy Tétrault and a long-time governance leader, to unpack what is actually changing beneath the headlines. They cover why "alternative" real estate is increasingly an operating business (hotels, senior living, data centers, student housing), how AI and automation could reshape industrial and construction productivity, and what programs like Canada Builds Homes could mean for financing, land, and delivery speed. They also dig into the macro shifts that matter for Montreal: defense and infrastructure momentum, immigration resets and rental dynamics, the return of in-person work and what that does to Class A office, and why boring and stable is still Canada's biggest advantage for global capital. Expect a grounded, optimistic, long-term lens on where the puck is going and how to position for it. Topics & Timestamps 🎙️ Intro and James' path to leading in real estate law and governance (01:03) 🤝 Relationship advantage: empathy, humility, and understanding counterparties (02:31) 🏨 Alternative assets surge: senior living, hotels, data centers, student housing (03:50) 🧠 "Stay calm and carry on": cycles, resilience, and the long game in CRE (05:25) 🤖 AI and robotics: legal guardrails, industrial automation, "dark factories" (07:39) 🏗️ Why construction still lags, and what prefab could finally unlock (10:18) 🏠 Housing urgency and delivery: what Canada Builds Homes is trying to solve (12:05) 🧩 Canada Builds Homes toolkit: land, loan guarantees, lending, partnerships (13:05) 🛡️ Defense and infrastructure: where Montreal-area real estate opportunities may emerge (15:58) 🌎 Immigration reset, rent plateaus, and the pendulum effect (18:55) 🏢 2026 theme: the return of office and the value of in-person community (20:36) 🚆 Transit and downtown recovery: REM, foot traffic, and the payoff of disruption (22:36) 💰 Foreign capital and "vibe vs fundamentals": why investors never really left (24:55) ⚡ Canada's edge: energy, resources, and renewed confidence (27:28) 🔗 Connect with James Papadimitriou 💼 LinkedIn: 🏢 Avison Young: 👤 Follow Axel Monsaingeon 💼 LinkedIn: 📸 Instagram: 🌐 Explore more resources 📊 Market guides, data, and advertising opportunities:

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Montreal CRE 2026 Outlook: Office Comeback, AI, Housing Policy, and Where Capital Is Moving is an episode from The Very Real Estate Effect Investing in Quebec by Axel Monsaingeon.

This episode is 28:53 long.

This episode was published on Jan 9, 2026.

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