At the end of the 19th century, Paul Ménard Galarneau and his associate, who already had a building where they sold fabrics and haberdashery items, decided to open their horizons and built a 4-storey building to make their warehouse. After several years established in the district, Alphonse Racine, owner of a wholesale fabric store buys the building and adds a floor in 1910. In 1933, Alphonse Racine ltée merged with two other companies to form Greenshields, Hodgson, Racine Ltd. They occupy the building during about thirty years to finally leave the building. In early 2000, the building was remodeled into luxury condos with indoor parking.

Now called the Cité du Nouveau Monde, this building includes 49 elegant units, several businesses including the Scandinavian Spa (private access to owners), the LeRoyer Art Gallery and Verses Bistro.

Since 2012, this building is protected under the Cultural Heritage Act