Billion-Dollar Mixed Use Real Estate Project to Include a Tramway Station - Devimco Immobilier and the City of Brossard Sign an Agreement to Develop TOD Quartier

BROSSARD, QC, Dec. 8, 2015 /CNW Telbec/ - The City of Brossard and Devimco Immobilier have signed a memorandum of understanding which will allow the development of a $1 billion mixed use real estate TOD zone (Transit Oriented Development), on the northwest corner of Highways 10 and 30, in Sector C of the municipality.

This agreement is subject to approval by members of the Municipal Council of the City of Brossard during tonight's Municipal Council meeting. Subsequently, the municipality will undertake a consultation with the citizens on the Development Guide included in the memorandum of understanding.

Named "TOD Quartier", this vast real estate project will combine residential, commercial/recreational tourism and office space, and can accommodate a tramway station (LRT), two hotels and a convention center. Pedestrian and cyclist access will be a key priority.  The residential component will account for about 67% of the project (about half the units will be rentals, the other half will be condos).

Mr. Serge Goulet, President of Devimco Immobilier, is very pleased with the signature of the agreement with the City of Brossard, aiming for the first building to be delivered in December 2017. He intends to respect the planned regulatory steps, including the adoption of the development plan by the agglomeration of Longueuil as well as the public consultation process to be initiated by the City of Brossard.

"We are offering a mixed use project, aiming for a whole new lifestyle concept founded on the principles of an eco-neighborhood, where residents and visitors can develop a strong sense of belonging. Our innovative project will register in the collective psyche as the flagship project of the greater metropolitan area and be the top reference in TOD type developments. Because of its density and its diversity, our project will be representative of a true TOD as defined by the Metropolitan Land Use and Development Plan (PMAD)," said Goulet, during the press conference with the Mayor of the City of Brossard Mr. Paul Leduc.

Once completed, the TOD project will include the following:

  • Nearly 2,000 residential units, including condominiums (50%) and rental units (50%); the residential portion of the project covers 67% of the area: two million square feet out of three million square feet;
  • 500,000 square feet of office space (16.66% of the area);
  • 500,000 square feet of commercial and recreational tourism space (16.66% of the area), including a convention center with a capacity of 800 people for conferences, seminars and conventions, as well as local, regional and national cultural events;
  • Two hotels with 150 rooms each;
  • A public transportation and future LRT-type tramway station;
  • Nearly 200,000 square feet of public space including a central park, a pedestrian walkway and public art.

With this project, Devimco Immobilier will create the second generation of TOD projects: when exiting the train or bus, the people will no longer have to navigate their way through a large parking lot; they will be immersed instead in a real living environment.

Construction of a viaduct over Highway 10
To address traffic needs, the City of Brossard will finalize the extension of Quartier Boulevard by building a viaduct (overpass) over Highway 10. It should be operational in late 2017 and will include a covered pedestrian walkway and bike path.

Lapinière Boulevard will be extended within the project and will loop to reach Quartier Boulevard north of the project. On both sides, businesses will set up shop and terraces will add to the site's dynamism and vitality.

The City is responsible for the completion of the development of the central park and the extension of Lapinière Street, no later than December 31, 2017, and Place de la Gare, before December 1, 2022.

Devimco Immobilier will be giving to the City, prior to the completion of the construction, rights for central park, Lapinière Boulevard, the public transport station and other plots.

PMAD and Lewis Report
In 2012, the Metropolitan Land Use and Development Plan (PMAD), adopted by the Montreal Metropolitan Community, identified the site as a TOD area. This orientation primarily affects the densely populated, mixed and structured neighborhoods around public transport stations (possibly LRT). Devimco Immobilier's proposed plan provides a density per hectare greater than the PMAD's minimum requirements.

In March 2014, the City of Brossard asked Mr. Paul Lewis, Dean of la Faculté d'aménagement, Université de Montréal, to provide guidance so the City could develop an exemplary and sustainable urbanism plan for Sector C. In his report, Mr. Lewis focused on four criteria: encouraging the use of public transit, creating a dense and mixed urban neighborhood, building quality public spaces, and promoting alternatives to cars.

"Our project meets these four criteria", concluded Mr. Goulet.

About Devimco Immobilier

Devimco Immobilier is a leader in real estate development in Quebec that stands out for completion of large-scale real estate projects, including lifestyle projects that combine commercial, business, leisure and residential components. Devimco was in fact the first real estate company to develop a project of this kind in Canada, which was the Quartier DIX30TM. Since 2005, Devimco has been working on the design of the largest mixed use private real estate project in Montreal, the District GriffinTM: a living environment where the whole social fabric of a true community is represented, as well as the O'Nessy project on 1800 boulevard René-Lévesque West.

www.devimco.com.

 

SOURCE Devimco Immobilier

For further information: Geneviève Chalifour, For Devimco Immobilier, 514 845-7043, genevieve.chalifour@cohnwolfe.ca


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