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The Côte-des-Neiges–Notre-Dame-de-Grâce borough officially acquired a building in the Triangle district on Wednesday that could become a new elementary school or community centre.

After three years of negotiations with its owners, the building — located at 5010 Paré St. — was sold to the borough for $9.1 million. Montreal’s central city supplied the funding for the borough to acquire the building.

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A drastic revamp of the Triangle district has been in the works for more than a decade, and with 3,500 condominium units, many families have moved into the area. It is one of the largest residential developments in Montreal.

However, there are no schools close to it — a sore point for many residents who have complained to the borough.

“We have been hearing over and over again that there’s just no school in the area,” said Côte-des-Neiges–Notre-Dame-de-Grâce Mayor Sue Montgomery.

She said residents clearly expressed their needs — which include a school and community spaces — when they moved to the borough.