- Historically, Downtown Montréal office buildings with direct interior access to RESO (the city’s extensive underground network of pedestrian pathways) have maintained lower availability rates than buildings that are not connected. However, as market conditions tightened in the late 2010s, this gap narrowed significantly, with the difference in availability rates between connected and non-connected class A and B buildings compressing to less than 1%. This dynamic shifted drastically when the remote and hybrid work models became more entrenched as a result of the pandemic. From 2021 to 2024, availability rates increased sharply across both cohorts: class A and B connected buildings downtown peaked at 26.5% in Q3 2023, while non-connected buildings reached 25.6% in Q3 2024.
- As demand began to recover in late 2024, supported by return-to-office momentum, availability rates in connected buildings have been declining steadily, reaching 17.3% in 2026. By contrast, non-connected buildings continue to exhibit availability rates above 20%, with no signs of compression yet. This divergence is now reflected in asking rents, which command a premium of approximately $4 to $5 per square foot for RESO-connected buildings relative to their non-connected counterparts. While overall availability remains elevated across Downtown Montréal, except for trophy assets, the supply of space in RESO-connected buildings is expected to tighten more rapidly than in the broader market.
- Direct access to RESO has long been highly valued by downtown workers, particularly in the winter months, serving as an integrated extension of amenities within a vast, connected, and sheltered network of buildings with direct access to the Métro. As employers continue to navigate the push for increased in-office attendance, RESO connectivity’s leasing advantage is further strengthened by the rollout of the new REM stations. Direct underground access to Gare Centrale and the Eaton Centre provides a direct link from the Core Business District to the North Shore, West Island, South Shore, and, in the near term, the airport. For employees commuting from cities as far as Brossard, Sainte-Anne-de-Bellevue or Deux-Montagnes, RESO-connected buildings enable a door-to-desk journey shielded from weather conditions. This enhanced commuting experience is proving to be an effective lever in reducing friction associated with long commute times, while supporting access to downtown workplaces.
Downtown Montréal office buildings with direct access to RESO leasing up faster
June 2, 2026