The new residential project that will be built on the Blue Bonnets land will accommodate 5000 to 8000 flats or condos. Since each flat will accomodate at least 2 people, you can double these figures to give you an idea of the amount of people that will inhabit this project.
The provincial government bought this land in 1998 for 37 million and will be given to the city of Montreal free of charge but the income of the sale to the promoters will be shared by both.
The land is the size of 80 football fields and is larger than the Lafontaine park. The city wll take 5 years to develop the area so as not to compete with the exhisting projects.
The sale of the land is squeduled for 2017 and the profits from the sale of the land will help to recuperate the 50 million that the government has invested since buying the land in 1998. The sale of the land will be at least 100 million and maybe 125 million and the city will pay the decontamination costs.
Horse races have been held there from 1907 to 2009. The city bought the land from Blue Bonnets in 1991 for 46 million from Robert Campeau then resold to the goverment in 1998. The government announced that it is disolving the Société Nationale du Cheval de Course, created to manage the Quebec Hippodromes. The debt of 50 million is to be assumed by the government.
From La Presse, Saturday 24th of march 2012 (translated by Guy Billard)
Photo from book by Jacques Pharand "à la belle époque des Tramways"