Arrondissement 74: New Residential Rental Project in Charlesbourg

Fonds de solidarité FTQ

A Project by GCS Développement immobilier and Fonds immobilier de solidarité FTQ

QUÉBEC CITY, Aug. 16, 2016 /CNW Telbec/ - GCS Développement immobilier and Fonds immobilier de solidarité FTQ today broke ground on Arrondissement 74, a residential rental building at the intersection of Boulevard Henri-Bourassa and et 74^e Rue Est in Charlesbourg, a quiet neighbourhood within close proximity of basic services.

Set on a 30,687-ft² lot, the six-storey concrete building will have 92 apartments and two levels of underground parking. The project, valued at $20 million, will offer various layouts of 3 ½, 4 ½ and 5 ½ units ranging from 730 ft² to 1,053 ft². Features include a panoramic view of Québec City from most apartments, security cameras and a superintendent on-site at all times. Occupancy is slated for the end of spring 2017.

"Charlesbourg is a modern, sought-after Québec City suburb that offers an enviable quality of life and numerous wooded areas. This is why we've chosen this place to build an apartment building with condo-style units that will appeal to an active clientele in search of quality, peace of mind and proximity to services," said Mr. Sylvain Gilbert, President and CEO of GCS Développement Immobilier.

"We're looking to increase our presence in Québec City and are capitalizing on this opportunity to team up with a new partner who not only has in-depth knowledge of the local market but also owns strategically located lots conducive to the development of real estate projects that will benefit the community. For example, Arrondissement 74 will help stimulate the regional economy by creating over 150 jobs," added Mr. Normand Bélanger, President and CEO of the Fonds immobilier de solidarité FTQ.

The contemporary-style building will have a rooftop terrace with spectacular views of the provincial capital. It will be built according to superior quality standards, ensuring maximum soundproofing and comfort. All apartments will have central air, large windows, and a balcony with glass railings. "In order to meet our clientele's needs, each unit will come with a parking space, the price of which will be included in the rent, as well as storage space inside the unit. Most units will have additional storage space in the basement," added Mr. Gilbert.

Rental Office	Opening Hours
155 74^e Rue Est	De 12 :00 à 17 :00
Charlesbourg QC, G1H OEO	Every day except Friday
Tel.: [phone]	Appointments available by phone

About GCS Développement immobilier

In business for almost 30 years, GCS Développement Immobilier has carved itself an enviable reputation and today ranks among the top real estate developers in the Québec City area. Owner of several commercial properties including Pyramide de Ste-Foy, Place de la Gare and the Fidéen, GCS Développement Immobilier manages and owns dozens of multiresidential and commercial buildings. The company is involved in the revitalization of various commercial arteries and in so doing is actively contributing to the economic growth of Québec City. GCS Développement Immobilier recently announced that it will invest upwards of $250 million in various large-scale projects in Québec City, proudly continuing its tradition of delivering quality and satisfaction.

About 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 March 32, 2016, the Fonds immobilier had 38 projects in progress, along with 43 properties under management, 17million square feet of land to develop for future projects and $59 million invested in affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council.

SOURCE Fonds de solidarité FTQ

Image with caption: "Arrondissement 74 in Charlesbourg: a new residential rental project by GCS Développement immobilier and the Fonds immobilier de solidarité FTQ (CNW Group/Fonds de solidarité FTQ)". Image available at: http://photos.newswire.ca/images/download/20160816_C7913_PHOTO_EN_753003.jpg

Hélène Lemieux, Communications and Marketing Director, GCS Développement immobilier, Tel. [phone] Mobile [phone], [email protected]; Josée Lagacé, Communications and Marketing Director, Fonds immobilier de solidarité FTQ, Tel.: [phone] Mobile [phone], [email protected]