MONTREAL, Dec. 15, 2016 /CNW Telbec/ - Montreal businessman Philip Kerub will partake in the realization of the redevelopment project for the Montreal Children's Hospital's former site.
After purchasing the former site from the Government of Quebec, Mr. Kerub resold parts of the property to Devimco Immobilier. The two promoters agreed on a breakdown of the new project that will be marked by its mixed uses.
Mr. Kerub will build a complex that will include a hotel and high-end condominium units, as well as higher quality office space. Furthermore, he will restore the former nurses' residence. This neoclassic pavilion will be preserved due to this intervention. The building's envelope, including the doors and the windows, will be restored.
For his part, Devimco Immobilier will build a community center, rental housing, condominium units, local stores, as well as public areas.
These two projects, when combined, represent an investment of roughly $400M. They will be subjected to public consultations in January, which will be overseen by the Office de consultation publique de Montréal.
A Montreal native, Mr. Kerub has invested in many projects around the world. He is very glad to be back in his hometown in order to contribute to a major project.
He is very familiar with the Montreal Children's Hospital for he has been one of its generous donors for many years.
SOURCE Philip Kerub
For further information: Sarto Blouin, 514 287-9796