The REM on the South Shore: three years on, investors are watching the stations

The question I hear often is whether buying near a REM station is worth the premium. Three years after the South Shore branch opened, I have enough hindsight to answer with numbers instead of a hunch. Here's what the train has actually changed for anyone who owns or is eyeing a building in Brossard and around it.

Three years of service, three stations in Brossard

The REM opened its first segment on July 31, 2023, between Central Station and Brossard. On the South Shore, that means three stations, all in Brossard: Panama, Du Quartier and the Brossard terminus. The ride downtown takes under twenty minutes, with no bridge to cross by car. The terminus has nearly 3,000 park-and-ride spaces and a bus terminal that funnels the rest of the South Shore toward the train.

In the spring of 2026, the network was setting ridership records. A service that keeps gaining riders year after year is exactly what holds up land values around the stations. This isn't a developer's promise. It's a travel habit taking hold.

Where the capital settles

The clearest example sits at Du Quartier station. The Solar Uniquartier project, led by Devimco, plans 2,600 homes and 1.2 million square feet of retail and office space, a hotel included, all grafted directly onto the station. The City of Brossard classifies the area as a transit-oriented neighbourhood, a TOD.

That kind of density doesn't get built just anywhere. It follows the train. When a city concentrates homes, shops and offices around a station, it creates steady rental demand and a pool of buyers who want to walk to the platform. For an investor, that's a signal: the area is built to last, not to ride a single cycle.

What the station really adds to value

Let me be honest on one point. A station nearby is not a blank cheque. It adds value when it comes with real shops, walkable streets and zoning that allows density. An address five minutes on foot from Panama or Du Quartier, in an already-built area, defends itself better at refinancing and resale than an isolated building farther out.

But a station on its own, ringed by parking lots and highways, does not turn an average location into a good one. What I look at with a client is the real walk to the platform, the quality of what sits between the two, and what the zoning allows on the lot. A small multi-unit building well placed near a station keeps its tenants and re-rents fast. That's where the premium earns its keep.

Financing is still the real brake

The Bank of Canada held its policy rate at 2.25% on September 2, a seventh straight hold, and its next decision lands on October 28. Markets put the odds of a hike that day at about one in three. The Government of Canada 10-year bond was running around 3.9% this fall. The five-year fixed rate sits near 4.59% for an insured loan and 5.09% for a conventional one, according to nesto.

For an income property, the cost of borrowing stays glued to the yield, sometimes above it. A good address near the REM doesn't change that math. It only makes it easier to live with, because the building re-rents and resells better when rates weigh on the rest of the market.

What this means for you

• You own a building near a station: it benefits from rental demand backed by the train and the density settling in around it. Before you set a price, get the value established from your leases and your actual expenses, not from REM proximity alone. The station helps, but it's your net income that holds up in front of a buyer.
• You're looking to buy: don't pay the REM premium with your eyes closed. Measure the walk to the platform, look at what's along the way, and check the zoning. A multi-unit building within walking distance of Panama or Du Quartier, in a lively area, beats a bargain wedged between two highways.
• You're allocating capital: the TOD draws developers because demand there is predictable. A small existing building in these areas, bought at the right price, can ride that wave without the risk of a new project. Stress-test your structure at a renewal rate higher than today's before you sign.

I work both residential and commercial, and the income property near a station sits right where the two meet. Want to know what your Brossard building is worth, or run a purchase near the REM past a second set of eyes? Request a free evaluation or write to me directly. I answer myself, every time. I also recently laid out why yields are tightening on the South Shore.