Devimco Immobilier and its partner Fonds immobilier de solidarité FTQ are launching the
construction of a 555-unit project featuring the tallest residential tower on the South Shore.
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LONGUEUIL, QC, Feb. 21, 2024 /CNW/ - Today marks a milestone for the Longueuil community, with the groundbreaking ceremony for the Myral Condominiums project. Developed by Devimco Immobilier and its partner, the Fonds immobilier de solidarité FTQ, this innovative mixed-use residential project, valued at $230 million, includes a 33-storey tower with 555 rental units, condominiums, and a ground-level retail space.
Myral Condominiums is the only residential project located directly above the Longueuil–Université-de-Sherbrooke metro station, adjacent to Place Charles-Le Moyne, with the Jacques Cartier Bridge and the city as a backdrop. It reflects the promising future of downtown Longueuil. One of the project's key assets is its connectivity to the public transport network, responding to residents' need to reduce car use while promoting an eco-friendly lifestyle.
The project is generating unprecedented interest. The launch of the first units in fall 2023 has been a resounding success, selling more than twice as many units as other projects on the South Shore.
Myral Condominiums boasts the largest common areas on the South Shore, with a Mediterranean feel and more than 20,000 square feet of space. The project also features:
- A lobby with a coworking space and lounge section
- A training room
- A Scandinavian spa circuit with a dry sauna, wet sauna, hot and cold baths
- A private dining room
- An art studio
- An outdoor pool with a BBQ, pergola, lounge, and outdoor workout area
- An urban chalet and a terrace offering panoramic views
"Myral Condominiums marks an important milestone in real estate development on the South Shore. We are convinced that this project will redefine the concept of urban living in the region, offering a modern, dynamic, and highly connected living environment," said James Goulet, Partner at Groupe Devimco.
"This mixed-use project will help add 555 units to the market. The first units are scheduled to be delivered by 2027. Much more than a simple residential building, its position above the Longueuil–Université-de-Sherbrooke metro station makes it a structuring and sustainable real estate project connected to several public transit options," added Martin Raymond, President and CEO of the Fonds immobilier de solidarité FTQ.
For more details, visit the project's website Myral Condominiums.
The Fonds immobilier de solidarité FTQ drives economic growth and employment in Québec by strategically investing in profitable and socially responsible real estate projects in partnership with leading industry players. The Fonds immobilier supports projects across Québec in the residential, office, commercial, institutional and industrial sectors, in particular those that consider ESG (environmental, social, governance) factors with a view to developing sustainable properties. As at December 31, 2023, the Fonds immobilier had 44 projects with a combined value of $5.7 billion in development or construction, 80 portfolio properties under management, 3.5 million square feet of land for development and a cumulative total of $345 million invested in social and community projects. The Fonds immobilier is a member of Bâtiment durable Québec.
Groupe Devimco is a Québec real estate development leader that stands out for the creation and execution of large real estate projects, in particular lifestyle and TOD complexes that blend commercial, business, leisure, and housing components. Combining innovation and creativity, Groupe Devimco participates in enhancing the environments it creates and the communities where they are located, for the benefit of its occupants and visitors. Devimco and Concordia University recently partnered to found the university's Next-Generation Cities Institute.
Since 2005, Groupe Devimco has been developing District Griffin®, a vibrant area where a genuine community is taking root. Another of its projects is SOLAR Uniquartier™, Québec's largest TOD project. Groupe Devimco is also building Square Children's®, a new flagship project at the western extremity of Montréal's downtown core that is revitalizing the former site of the Montréal Children's Hospital and the entire neighbourhood.
The developer also began construction in 2020 on the MAA Condominiums & Penthouses® on Peel Street in Montréal's downtown core, a project as rich as the history of the MAA Club Sportif whose revitalization will be part of it. Maestria Condominiums®, the largest mixed-use residential project ever built in Montréal, located in the heart of the Quartier des Spectacles, was also launched in late 2019. It was followed, in 2021, by the launch of the Auguste & Louis Condominiums®, a unique project that marks the first phase of the Quartier des lumières, located on the site of the former Maison Radio-Canada building. Devimco's newest condo and penthouses project is Wellington sur le Bassin®, at the corner of Wellington and De la Montagne streets.
Finally, Groupe Devimco is now completing the first phase (Sir Charles Condominiums) of a major TOD project in the City of Longueuil's downtown and Longueuil—Université-de-Sherbrooke metro station area.
SOURCE Devimco Immobilier
Justin Meloche, [email protected], 514-995-9704
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