Potential Major League Baseball Stadium & Mixed-Use Development
The Peanut Project — Montreal, Quebec
Confidential – Preliminary – Non-Binding
1. Introduction
The Peanut Project is evaluating potential sites in Greater Montreal for a future Major League Baseball stadium and surrounding mixed-use district as part of its effort to support the return and restoration of the Montreal Expos.
We are inviting landowners, corporations, developers, real-estate holding companies, institutions, family offices, public entities and other property stakeholders to submit expressions of interest regarding land that may be suitable for:
- a Major League Baseball stadium;
- a stadium-anchored mixed-use district;
- related entertainment, hospitality, commercial, residential, cultural and public-realm development;
- or an assemblage capable of becoming suitable when combined with adjacent properties.
This Request for Land is intentionally broad.
We are not seeking only large vacant parcels.
We are also interested in industrial sites, underutilized properties, redevelopment opportunities, corporate campuses, parking areas, land assemblages, adjacent parcels, relocation opportunities and properties that may become viable through creative transaction structures.
The objective is simple:
Identify every serious land opportunity before determining which site offers the strongest combination of accessibility, economics, development potential and long-term value for Montreal.
2. What We Are Looking For
We are particularly interested in properties that offer some combination of the following:
Location
Preference will be given to sites:
- in or near central Montreal;
- near Downtown, Griffintown, Old Montreal, Bridge-Bonaventure or other strategically located districts;
- within convenient access of major population and employment centres;
- capable of becoming part of a significant urban redevelopment opportunity.
We remain open to compelling sites outside these areas.
Public Transportation
Strong public-transit access is a major priority.
Sites should ideally offer convenient access to one or more of:
- Metro;
- REM;
- commuter rail;
- major bus corridors;
- future transit infrastructure;
- pedestrian and cycling networks.
A Major League Baseball club may host 81 regular-season home games annually, making predictable and convenient transportation essential.
Pedestrian Accessibility
Preference will be given to locations capable of attracting significant pedestrian traffic from:
- Downtown Montreal;
- employment districts;
- residential neighbourhoods;
- hotels;
- tourism areas;
- restaurants and entertainment districts.
Road Access
Sites should also offer reasonable vehicular connectivity to major roadways and the regional transportation network.
3. Size
There is no absolute minimum parcel size for submission.
While larger contiguous sites may offer obvious advantages, highly urban stadium projects can sometimes be developed through:
- adjacent parcels;
- land assembly;
- air rights;
- road or infrastructure reconfiguration;
- public-private cooperation;
- vertical development;
- shared parking;
- neighboring development partnerships.
Accordingly, we encourage submissions involving:
Individual properties
Generally 5 acres or more where strategically located.
Larger sites
Approximately 10–20+ acres, particularly where a comprehensive stadium and mixed-use district may be possible.
Assemblages
Multiple adjacent properties that could collectively create a viable site.
Smaller strategic parcels
Properties below 5 acres may also be relevant where they are critical to a larger assemblage.
We encourage property owners to look beyond their own lot lines.
A 6-acre property adjacent to another 6-acre property may ultimately be considerably more valuable to the project than an isolated 15-acre parcel in the wrong location.
4. Existing Uses Are Not a Disqualifier
The property does not need to be vacant.
We welcome submissions involving:
- active industrial facilities;
- warehouses;
- retail properties;
- commercial facilities;
- parking lots;
- low-density developments;
- aging or obsolete buildings;
- corporate facilities;
- redevelopment sites.
Where appropriate, the Peanut Project may explore solutions involving:
- relocation;
- replacement facilities;
- land swaps;
- phased redevelopment;
- sale-leaseback structures;
- joint ventures;
- participation in surrounding development.
The fact that a property is currently occupied does not necessarily prevent it from being considered.
5. Potential Transaction Structures
We are deliberately approaching land acquisition with flexibility.
A successful proposal does not necessarily require a conventional cash sale.
Interested parties may propose one or more of the following structures:
A. Cash Sale
Sale of the property or relevant interest for cash at an agreed valuation.
B. Land Swap
Exchange of an existing property for another site that better meets the owner’s operational or investment requirements.
This may be particularly relevant for companies whose operations could relocate within the same general area without materially affecting their business.
C. Equity Rollover
A property owner may consider contributing land value into the broader project in exchange for an ownership or economic interest, subject to applicable securities, legal and financing requirements.
D. Joint Venture
Landowners may propose participating in development alongside project partners.
Potential opportunities may include:
- residential development;
- hospitality;
- retail;
- office;
- entertainment;
- parking;
- public realm;
- other complementary uses.
E. Long-Term Ground Lease
Owners wishing to retain title may propose a long-term ground lease or similar structure.
F. Partial Sale or Subdivision
In some circumstances, only part of a property may be required.
G. Relocation
Corporate or industrial owners may propose relocation arrangements under which existing operations move to another suitable property while the current site becomes available for redevelopment.
H. Other Structures
We welcome creative proposals.
If a structure creates compelling economics for the property owner while helping create a viable stadium district, we are prepared to consider it.
6. Mixed-Use Development Opportunity
We are not necessarily evaluating sites solely for a stadium.
The preferred opportunity may ultimately support a broader district incorporating some combination of:
- residential development;
- affordable housing;
- hotels;
- restaurants;
- retail;
- offices;
- entertainment;
- technology;
- media;
- academic or innovation uses;
- public parks;
- waterfront development;
- cultural facilities;
- parking and transportation infrastructure.
A Major League Baseball stadium could potentially serve as an anchor rather than the entirety of the development.
Accordingly, owners of larger landholdings should identify opportunities to participate in the surrounding real-estate development rather than assuming that the entire property would necessarily be acquired.
7. Information Requested
Initial submissions need not be extensive.
Please provide, where available:
- Property address
- Cadastral lot number(s)
- Approximate land area
- Current ownership entity
- Current use
- Existing buildings and approximate square footage
- Any known environmental conditions
- Current zoning
- Existing mortgages, leases, easements or other material encumbrances, if relevant
- Transit proximity
- Road access
- Adjacent properties that may potentially form part of an assemblage
- Whether the property is currently for sale
- Whether the owner would consider a future sale
- Preferred transaction structure
- Indicative valuation expectations, if available
- Any timing constraints
- Name and contact information of the appropriate representative
Supporting documents may include:
- surveys;
- site plans;
- zoning materials;
- aerial images;
- environmental reports;
- appraisals;
- development studies;
- preliminary concepts.
These materials are helpful but not required for an initial submission.
8. Evaluation Criteria
Properties will be evaluated using criteria that may include:
Stadium feasibility
Ability to accommodate a modern Major League Baseball stadium.
Transportation
Public transit, pedestrian, cycling and vehicular access.
Centrality
Convenience for residents, workers, tourists and regional visitors.
Development potential
Ability to support complementary mixed-use development.
Site control
Complexity associated with acquiring or assembling the required land.
Economics
Land cost, redevelopment costs, relocation requirements and overall project economics.
Regulatory feasibility
Zoning, permitting, planning and approval considerations.
Infrastructure
Utilities, roads, transit, servicing and other infrastructure.
Urban integration
Ability to create a development that contributes meaningfully to the surrounding community.
Timing
Ability to secure site control within a timeframe compatible with a potential MLB expansion process.
No single criterion will determine the outcome.
9. Assemblages Are Encouraged
One objective of this process is to identify opportunities that may not be obvious when properties are considered individually.
For example:
Owner A controls 6 acres.
Owner B controls 5 acres beside it.
A public agency owns another strategic parcel.
Individually, none may constitute a stadium site.
Collectively, they may.
We therefore encourage respondents to identify neighboring properties, potential collaborators or adjacent landowners where an assemblage may create a stronger opportunity.
10. Confidentiality
The Peanut Project understands that land discussions may involve sensitive commercial information.
Submissions may be identified as confidential.
Where appropriate, a mutual non-disclosure agreement may be executed before detailed financial, operational or transactional information is exchanged.
The Peanut Project will seek to treat commercially sensitive information responsibly, subject to applicable legal requirements.
11. Process
Following receipt of submissions, the Peanut Project may:
- conduct preliminary site analysis;
- review property records and zoning;
- consult architects, planners, engineers and other advisors;
- evaluate transportation and infrastructure;
- request additional information;
- conduct site visits;
- discuss transaction structures with property owners;
- explore potential assemblages involving neighboring properties;
- enter into confidentiality agreements;
- request non-binding indications of value or terms;
- identify a shortlist of sites for more detailed feasibility work.
Submission of a property does not guarantee that it will advance to further evaluation.
12. No Obligation
This Request for Land is exploratory and non-binding.
It does not constitute:
- an offer to purchase;
- a commitment to lease;
- a commitment to invest;
- a solicitation for securities;
- a promise of participation in any future development;
- a representation that Major League Baseball has approved a Montreal expansion franchise;
- or a commitment by the Peanut Project or any related party to proceed with a transaction.
Any future transaction would remain subject to:
- due diligence;
- legal documentation;
- financing;
- regulatory approvals;
- project feasibility;
- ownership approvals;
- and any other conditions deemed necessary.
The Peanut Project reserves the right to:
- consider or reject any submission;
- modify its site criteria;
- engage directly with landowners outside this process;
- evaluate multiple sites simultaneously;
- terminate discussions at any time.
13. Who Should Respond
We encourage submissions from:
Private landowners
Corporations
Developers
Real-estate investment firms
Family offices
Institutional owners
Industrial companies
Retailers
Government entities
Public agencies
Universities and institutions
Pension funds
Property managers
Brokers acting with owner authorization
We are particularly interested in hearing from owners who may not currently be marketing their property but who would be willing to consider an attractive proposal.
14. Submission
Please submit expressions of interest to:
Ashkan Karbasfrooshan
The Peanut Project
Ash at WatchMojo dot com
Subject:
REQUEST FOR LAND — [PROPERTY ADDRESS / OWNER]
Initial submissions may be brief.
If you own or control a potentially relevant property but are uncertain whether it qualifies, we encourage you to submit it.
15. The Opportunity
Montreal does not necessarily need to discover one perfect vacant parcel.
It may need to assemble the right pieces.
A corporate site.
An adjacent property.
A redevelopment opportunity.
A land swap.
A public parcel.
A creative partnership.
Individually, they may appear unrelated.
Together, they may create something extraordinary.
Our objective is to identify those possibilities before dismissing them.
If you control strategically located land in Montreal, we would like to hear from you.
Sell it.
Swap it.
Roll it.
Partner with us.
Or simply start a conversation.
The right site may already exist.
It may simply not have been looked at this way before.
The Peanut Project
Montreal, Quebec