|ESPACE MONTMORENCY: A $420-Million Investment in the Largest Commercial Real Estate Project Ever Built in Laval|
|Laval, November 30, 2015 - In the centre of what is now referred to as Laval's "Cité du savoir et de la culture,"
MONTONI, Claridge and the Fonds immobilier de solidarité FTQ are partnering on a bold $420 million development
project. Once completed, Espace Montmorency, which offers direct access to the metro, will consist of about 10
buildings with shops, offices, a hotel, entertainment venues and other public spaces.
Aiming for LEED Gold certification, Espace Montmorency is an iconic project that will seek to maximize the potential of this area, which revolves around transit-oriented development. Located on a 277,000-square-foot lot east of Autoroute des Laurentides, between Du Souvenir and Boulevard De la Concorde West, the project will deliver a mix of buildings that ultimately will create a new city within the city.
The four-phase Montmorency project will consist of about 10 buildings of up to 20 storeys each, offering over 1 million square feet of leasable space. "We are taking advantage of an exceptional site to develop a major project that will create more than 3,500 jobs over 5 years. We worked with the City of Laval to come up with an avant- garde urban development concept that will meet the needs of a varied clientele. The retail and office space will be well diversified, which will stimulate employment, and will be surrounded by green space. With almost $1 billion of projects in Laval, we're thrilled about the spinoffs for Fonds de solidarité FTQ shareholders," said Normand Bélanger, President and CEO of the Fonds immobilier de solidarité FTQ.
"Whenever we partner in a project, we always look for innovation, an exceptional location and a mixed-use plan in order to get the most out of the urban development. Espace Montmorency fits right in with our vision of a modern project that creates a genuine living environment and that has the potential for tremendous spinoffs," continued Pierre Boivin, President and Chief Executive Officer of Claridge.
"Because of our extensive experience in Laval, we understand what's involved in commercial construction and are therefore well placed to come up with projects that perfectly meet the needs of the target clientele. With Espace Montmorency, we're looking to push the limits of a typical suburban development by incorporating a metropolitan approach in the form of densification and mixed-use properties. With its exceptional location, Espace Montmorency offers unbeatable advantages to future users, who will have easy access not just to public transit but to knowledge and cultural institutions, and as such will enjoy a unique living environment with unmatched services," said MONTONI president Dario Montoni.
"Typically, high-density sites are developed around a series of towers built on a podium. Here, we're looking for something a bit different. In this hybrid project, we will have more public areas spread over several floors. Espace Montmorency will be developed according to a horizontal and vertical phasing principle based on standard 100,000-square-foot blocks. Each phase can be as much as five storeys high and to which private gardens will be added. The green spaces will attract different types of users on a daily basis and create a welcoming, bustling area with a diverse offering. The project will also be green in every sense of the word," said Jean Pelland, senior partner of Sid Lee Architecture.
The residential area, located north of the quadrangle, will be anchored by the Urbania 2 project which, on completion, will consist of 6 buildings totalling 1,150 condos. The new Place Bell to the south, with its skating rink and amphitheatre, will add more energy to an already vibrant neighbourhood that is home to a Université de Montréal campus and other educational institutions, shops and performance halls, all with direct access to the Montmorency metro station.
Founded in 1995, MONTONI is a leader in commercial and industrial real estate, offering its clients a level of service not found anywhere else in the industry. MONTONI has been named one of Canada's 50 Best Managed Companies, since 2001 and has been a member of its Platinum Member since 2007, a testament to its ability to offer quality construction and unparalleled customer service. MONTONI focuses on projects in the Greater Montreal but is also active in other areas of Quebec and elsewhere in Canada. Since its inception, the company has been involved in industrial and commercial projects totalling over 12 million square feet, 10 office buildings and currently has 15 million square feet of other projects in progress or substantially completed. A member of the Canada Green Building Council, MONTONI has 3.5 million square feet of LEED-certified buildings to its credit. www.groupemontoni.com
Founded in 1987 by Charles Bronfman, Claridge is an investment firm headquartered in Montréal, Québec. Today, the firm represents the interests of the Stephen Bronfman family and is actively involved in managing a diverse portfolio of third-party investments, as well as direct equity participations in the food, technology, energy, entertainment and real estate industries. www.claridgeinc.com.
About the Fonds immobilier de solidarité FTQ
Created in 1991, the Fonds immobilier de solidarité FTQ promotes economic growth and employment in Québec by strategically investing in profitable and socially responsible real estate projects in partnership with other industry leaders. The Fonds immobilier backs residential, office, commercial, institutional and industrial projects of all sizes across Québec. At May 31, 2015, the Fonds immobilier had 38 projects in progress valued at $1.8 billion, 38 properties under management, 18 million square feet of land and $54 million invested in affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council.