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National Bank to Build Biggest Montreal Tower in 25 Years

  • Canada’s No. 6 bank to shift headquarters and staff by 2022
  • Construction will cost over C$500 million; old site to be sold
National Bank of Canada

Photographer: Brent Lewin/Bloomberg

National Bank of Canada plans to invest more than C$500 million ($402 million) to build a new headquarters near the old city of Montreal that will be the largest office tower built in the area in 25 years.

National Bank will be the sole occupant of the estimated 36-story tower on the corner of St-Jacques Street and Robert Bourassa Boulevard, on the same street where the bank had a head office more than 100 years ago, spokesman Claude Breton said in a phone interview. The tower that currently houses the head office will be sold, with proceeds directed to the new building, slated for occupancy in 2022.