In an effort to increase the capacity of teaching and research spaces, the Government of Québec is investing $93.5 million in HEC Montréal to build a building in downtown Montreal. The total cost of the project is estimated at $183.1 million.
HEC Montréal is the graduate business school of the Université de Montréal. The French-language institution was founded in 1907.
“HEC Montréal’s reputation is second to none,” said Hélène David, Minister of Higher Education. “A real magnet for Montreal and Quebec, the school attracts students from around the world and trains many students to become agents of change in Quebec and Canada. This financial assistance will enable HEC Montréal to continue its teaching and research missions and to offer spaces more suited to its clientele.”
The new building will occupy a total space of more than 24,000 square metres. It will be located on a vacant lot adjacent to St. Patrick’s Basilica and on the Beaver Hall Coast.
The funds come from the Ministry of Education and Higher Education ($80.8 million), the Ministry of the Economy, Science and Innovation ($12.7 million), the HEC Foundation Montreal ($39.3 million) and HEC Montréal ($50.3 million).
“For many years, HEC Montréal has played a decisive role in the advancement of knowledge within Quebec society,” said Dominique Anglade, Deputy Premier of Quebec. “Thanks to this new infrastructure, this establishment will be able to host applied research and transfer centers, whose work will meet the needs of our businesses. I am therefore delighted by the investments announced today, which will allow the continued development of research and innovation in Quebec, thus meeting the objectives of the Québec Research and Innovation Strategy.”
The total cost of the project is estimated at $183.1 million.