Montréal city council unanimously supports Old Port of Montréal development projects

MONTREAL, June 28, 2011 /CNW Telbec/ - The Old Port of Montréal Corporation is delighted with the unequivocal support shown by Montréal's elected officials for its development projects.

At a meeting on June 20, Montréal's city council unanimously approved a motion of support for the Old Port of Montréal Corporation in its continued development.

Among other things, the motion underscores the fact that the Old Port of Montréal is among the city's most important tourist destinations, one that generates economic benefits of over 60 million dollars for Montréal's economy.

The motion also recognizes that the Old Port has engaged in defining projects for Montreal, for example, the recent announcement of an urban beach on the Clock Tower Quay, which was greeted enthusiastically by both Montréalers and Montréal mayor, Gérald Tremblay.

The text of the motion also stipulates that in order to reinforce the Old Port's status as a world-class tourist destination, the Old Port of Montréal Corporation needs an investment of $180 million to fund three major projects: the transformation of Shed 16 into an international exhibition and event centre, the redevelopment of Jacques-Cartier Quay to exploit its full commercial potential, and the refurbishment of the Esplanade and Promenade.

Finally, the motion reiterates that in a letter addressed to the four party leaders during the recent federal elections, the mayor of Montréal specifically stressed the importance of the Old Port project for the history of Montréal and Canada, and it commits Montréal's city council to lending its support and complete cooperation in the Old Port of Montréal Corporation's efforts to obtain funding for its projects.

President and CEO, Madam Claude Benoit, applauds this initiative and stresses the invaluable importance of the Old Port's facilities and the significance of its economic impact.

"Since the late 1970s, the $147 million allocated by the Government of Canada, coupled with the $305 million invested jointly by the Montréal and Québec governments, have helped generate over $2.4 billion in investment in Montréal's downtown core, creating over 5,000 businesses that today employ over 120,000 people," stated Madam Benoit.

"Moreover, between 1981 and 2006, thanks to the development of the Old Port of Montréal and the historical sector, the area's population has increased by 108 percent, compared to 5 percent elsewhere on the Island of Montréal, thereby helping to build a whole new community," she added.

The Old Port of Montréal Corporation hopes to achieve these investments within five years in order to be ready to host celebrations for the 375th anniversary of Montréal and the 150th anniversary of Canada. According to its estimates, these investments will create over 2,000 jobs and generate $140 million of economic benefits in the Montréal economy.

The Old Port president and CEO also reiterated her determination to continue the development of this must-see Montréal destination—Québec's most important tourism and recreation site, and the second-most important in Canada—and stressed that this would be achieved primarily through private partnerships.

About the Old Port of Montréal Corporation
The Old Port of Montréal Corporation was created by the Government of Canada in November 1981. As manager of the Quays of the Old Port of Montréal and the Montréal Science Centre, the Corporation plays an active role in Montréal's economic development through the creation of high-calibre recreation, tourism and cultural products and services.

SOURCE OLD PORT OF MONTREAL CORPORATION

For further information:

Source:   Old Port of Montréal Corporation
   
Information:   Estelle Lessard-Lacroix
Tel. 514-283-7160

 

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OLD PORT OF MONTREAL CORPORATION

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