Real Estate Property: Belgium Structure Available for Purchase

Real Estate Property: Belgium Structure Available for Purchase

The Belgo Building, a veritable cultural icon in Montreal, has recently been put up for sale, raising concerns among artists and art enthusiasts alike. This 187,164 square-foot building, located at 372 Sainte-Catherine West, is home to more than 25 contemporary art galleries and has been a hub of creativity since the 1980s[1].

The Belgo Building, a significant anchor in the artistic community, has served as a link for galleries, artists, creation residencies, performances, and events such as Nuit blanche. Its sale could potentially disrupt this vibrant ecosystem, with fears of it no longer remaining an arts complex[1].

The building, which consists of six floors, houses artist studios, dance studios, and offers the opportunity to appreciate the richness of artistic practices, making connections between them, and understanding the diversity of approaches[2]. The potential sale could offer an opportunity to revitalize the building and ensure its continued role in the downtown core's arts scene.

The asking price for the Belgo Building is not disclosed, but its municipal evaluation stands at $40.2 million[3]. The Dubrovsky brothers, who have owned the building since 1972, are seeking a buyer to develop the property in a manner similar to the Maison Alcan[4].

The Association des galeries d'art contemporain (AGAC) has already met with the City of Montreal regarding the sale of the Belgo Building[5]. However, details about the sale's progress or the identity of potential buyers have not been disclosed yet.

Soad Carrier, director of McBride Contemporain, expressed his concerns, stating that the Belgo Building is a major loss for the arts ecosystem in the country[6]. Chantal Boulanger, an art historian and former tenant, also voiced her worry about the potential displacement of tenants[7].

Despite the concerns, the Belgo Building continues to thrive, with more than a dozen exhibitions and numerous artists waiting to be discovered, all for free[8]. The success of maintaining the artistic vocation of the Belgo Building will depend on the will and means mobilized.

As the situation remains fluid, the ultimate impact will depend on the intentions of the future owner, the actions of city planners, and arts advocates. The arts community watches closely, hoping for a solution that ensures the continuity of this vital cultural space.

[1] Montreal Gazette, July 17, 2025 [2] Montreal Gazette, July 17, 2025 [3] Montreal Gazette, July 17, 2025 [4] Montreal Gazette, July 17, 2025 [5] Montreal Gazette, July 17, 2025 [6] Montreal Gazette, July 17, 2025 [7] Montreal Gazette, July 17, 2025 [8] Montreal Gazette, July 17, 2025

French investors with a keen interest in finance may find the recent sale of the Belgo Building, a significant cultural icon in Montreal, an appealing opportunity for real-estate investing. The potential buyer could seek to revitalize the building and ensure its continued role in the downtown core's arts scene.

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