Côté Ouest - A highly awaited Phase II in the Côte-des-Neiges-Notre-Dame-de-Grâce Borough

    MONTREAL, Feb. 6 /CNW Telbec/ - The Société d'habitation et de
développement de Montréal (SHDM) is pleased to launch Phase II of its Côté
Ouest development in the Côte-des-Neiges-Notre-Dame-de-Grâce Borough, barely a
year after Phase I was launched. "We opened the sales office of Phase 1 on
February 8, 2008, and less than a year later, 95% of the 142 units are sold,
built and occupied. This is unquestionable proof of the serious need for the
affordable condos such as those offered by the SHDM in this borough," stated
Guy Hébert, General Director of the SHDM.
    The Coté Ouest II development presents 112 Accès Condos units in six
storeys. "Similar to Phase I, the units offered meet the needs of the
borough's families with almost 75% of the condos consisting of two and three
bedrooms. Moreover, the very affordable prices have been structured to ensure
families will also qualify and have access to the additional subsidy offered
by the City of Montreal granting $10,000 to first time buyers on top of the
10% purchase credit provided under the Corporation's Accès Condos program. The
most expensive unit is priced at $235,000. Thus, for the first time, every
single condo in the development is eligible for the subsidy of Habiter
Montréal program", noted Mr. Hébert.
    In addition, with Phase II of Côté Ouest, the SHDM continues to innovate.
Indeed, for the first time it shares a part of the project with the
builder-developer, Devmont inc. The top two floors remain the property of
Devmont who may sell or rent privately are not eligible to the benefits of the
Acces Condos program "This innovation allows us to negotiate a better purchase
price with the builder-developer directly enabling new buyers to benefit from
these savings. Phase II units start at $137,900 for a studio and from $219,900
for a three-bedroom unit, ," explained the General Director.
    The architecture of Côté Ouest II, designed by Campanella and Associated
Architecture Design, harmonizes fully with Phase I. Distinguished by a
contemporary look with clean lines, the eight-storey concrete structure
features an exterior finish of bricks and architectural blocks balanced with
luminosity created by an abundance of large windows and glassed-in loggia
balconies. Ground floor units all have private terraces while all other units
have balconies. The front of the building faces Paré Street and is the mirror
image of Coté Ouest I on de la Savanne. This concrete construction offers the
most affordable prices, low condo fees, two elevators and an interior garage
with 64 parking spaces, reserved for Accès Condos clients at $18,000 each.
    Several promotional activities have been planned for the opening of Côté
Ouest II. First, the management of the SHDM and the builder met with owners of
Phase I units in the evening of last Tuesday to introduce the development. "It
was the trust demonstrated by Phase I buyers that inspired us to go ahead with
Phase II. Therefore, on February 7, almost one year to the day after the first
units went on sale, we will be opening the Phase II sales office. It seemed
natural to us to introduce Côté Ouest II to Phase I owners first," explained
Mr. Hébert.
    What's more, Côté Ouest II is one of various developments, which new
buyers will have the opportunity to visit during open-house weekends organized
in collaboration with the City of Montreal. "Given the record number of people
registered on our website and the traffic generated by the open houses, there
is little doubt that Côté Ouest II will be one of the city's must-see
developments over the coming weeks," concluded Mr. Hébert.

    Implemented by the SHDM in 2004, Accès Condos is an innovative program
that gives buyers a 10% purchase credit which is recognized by banks as the
down payment on the purchase of their unit. To receive this credit, they must
simply remit a deposit $1,000, be eligible for a mortgage loan and purchase
the condo to reside in it. This program is open to all and is not only for
first time buyers. Since this program was first introduced, more than 1,000
new owners have benefited from this assistance in order to become homeowners
in Montreal.

For further information:

For further information: Media only: Stéphanie Gareau, (514) 806-1033;
Sales office: (514) 329-2008; Source: Kayla Samuels, Sales Coordinator

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Société d'habitation et de développement de Montréal (SHDM)

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