Government of Québec commits an additional C$123M in Société de mise en valeur de terrains dans l'Est de Montréal s.e.c.

On June 30, 2026, the Government of Québec announced an additional investment of C$123 million into Société de mise en valeur de terrains dans l'Est de Montréal s.e.c. (“SMTEM”), a limited partnership established by Fondaction gestion d’actifs Inc. (“FGA”) with the mandate to acquire land located in Montréal East for the purpose of its remediation, redevelopment and disposition in furtherance of sustainable development objectives. Following this additional investment made through Investissement Québec (“IQ”), SMTEM’s capital now totals C$223 million.

The investment forms part of the Québec government's long-term initiative to revitalize Montréal’s eastern industrial corridor and to create opportunities for new industrial, clean technology and innovation-focused developments. 

FGA is an impact investment manager established in 2022 and a subsidiary of Fondaction, le Fonds de développement de la Confédération des syndicats nationaux pour la coopération et l’emploi. FGA deploys institutional capital into underserved sectors to address environmental and social challenges while generating competitive financial returns.

IQ is a Québec government corporation whose mandate is to foster economic development, innovation and export growth. It supports businesses of all sizes by providing financing solutions, including loans and guarantees, as well as strategic advisory services.

McCarthy Tétrault LLP advised FGA and SMTEM in connection with the additional investment with a team led by Mathieu Laflamme that included Alexandre Saulnier-Marceau, Kim Godbout, Carol-Ann Tremblay (Business), Dominique Amyot-Bilodeau, Roxane Courjal (Environment), Matthew Pekofsky, Joannie Jacques, Xin Yue Zhang, Nicholas Alevras (RPP), Christian Meighen, Nicolas Cloutier, Simon Douville, Hubert Cadotte, Julien Leblanc (Tax).