CLC Announces Acquisition of Pointe-du-Moulin Pier and its Silo No. 5

MONTRÉAL, Nov. 1 /CNW/ - Canada Lands Company CLC Limited (CLC) today announced its acquisition of a 21-acre (8.5 hectare) property on Montréal's waterfront, known as Pointe-du-Moulin, as part of the Government of Canada's "Montréal's New Harbourfront" initiative.  The property comprises the historic Grain Elevator No. 5, with its marine towers and conveyors, commonly referred to as Silo No. 5.  The Pointe-du-Moulin sector was under the custodianship of Transport Canada and operated by the Montréal Port Authority.

"This is a very important project for the company," said Grant B. Walsh, CLC's Chairman. "We are entirely committed to working with local authorities and the people of Montréal to make this redevelopment a success, and to make a major contribution to this extraordinary city's growth."

During an event held earlier today, Mark Laroche, CLC's President and CEO, said "we firmly believe that the successful redevelopment of this site requires an intimate understanding of the area on the part of everyone who cares about the Pointe-du-Moulin."  Mr. Laroche also paid tribute to Transport Canada, the Montréal Port Authority, the City of Montréal and both the Sud-Ouest and Ville-Marie boroughs for their involvement and commitment in helping the Montréal's New Harbourfront initiative move ahead.

The Honourable Christian Paradis, Minister of Natural Resources, and Minister responsible for Montréal, extended greetings from the Government of Canada at today's event and said "The planned redevelopment of Montréal's harbourfront by CLC will enhance the economic vitality of this important city and Canada as a whole."  He added "The Government of Canada appointed CLC as master developer for this initiative in April 2007.  I am pleased that CLC continues to demonstrate its strong ability to work with various agencies and authorities, community groups and the City of Montréal to move this vital project forward."

Montréal mayor Gérald Tremblay, who also spoke during the event, said "This is excellent news for Montréal. After contributing to the city's past success as a hub in the world grain trade, Silo No. 5 will now be beautified and redeveloped to fit into Montréal's 21st century landscape.  It has the potential to become a symbol of today's Montréal, while continuing to honour its glorious past.  I am confident that the Pointe-du-Moulin and Silo No. 5 redevelopment project will be successfully completed by CLC, a partner well known for its accomplishments and its exemplary participatory approach, which places citizens at the centre of its developments."

During her speech, Sylvie Vachon, President and CEO of the Montréal Port Authority, highlighted the excellent relationship between her organization and CLC: "I am very pleased that CLC is taking charge of this important symbol of Montréal's industrial and port history and will give it a new life."

The Pointe-du-Moulin sector is one of five properties to be redeveloped as part of Montréal's New Harbourfront initiative. Visit www.montrealsnewharbourfront.ca and www.pointedumoulin.ca to learn more. 

Canada Lands Company is an arm's-length, self-financing Crown corporation owned by the Government of Canada.  It purchases federal properties at fair market value, then improves and sells these properties in order to optimize their financial and community value.  It also holds and operates selected assets, such as the CN Tower in Toronto.  Visit www.clc.ca and www.cntower.ca to learn more.

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For further information:

Source:

Gordon McIvor
Vice President, Strategic Acquisitions, Public and Government Affairs
Canada Lands Company CLC Limited
416-562-0560 or [email protected].

For more information:

Marie-Ève Graniero
514-969-4688