A partnership between MONTONI, Groupe Sélection and Fonds immobilier de solidarité FTQ
LAVAL, QC, June 11, 2019 /CNW Telbec/ - Construction begins today on Espace Montmorency, Laval's largest ever mixed-used project. This brand new $450 million urban hub will be located in the heart of Laval and will be directly connected to Montréal's underground network via the Montmorency metro station. With an impressive offering of offices, cafés, restaurants, a hotel, residential units and inviting green spaces, the community and visitors will enjoy a vibrant new space. The project's champions, MONTONI and the Fonds immobilier de solidarité FTQ, are pleased to welcome a brand new partner, Groupe Sélection, for the development and construction of the residential portion, which will integrate three different types of living spaces to serve the needs of a diverse intergenerational clientele.
Groupe Sélection, a new strategic partner
Capitalizing on Groupe Sélection's 30 years of cumulative experience, Espace Montmorency will offer three of Sélection's flagship products to create a community within the project:
- frïdom, which targets a clientele aged 55 and over, will offer 200 boutique apartments at a monthly "all-inclusive" price;
- REZ, which is aimed at a diversified clientele (young households, professionals and families), will offer 300 rental units at a value price;
- Yimby, a banner designed by and for Millennials, will offer 200 units for people under 35.
In addition to quality housing and neighbourhood services, common spaces will be designed to encourage intergenerational mingling and to foster a sense of belonging to the community for all those who work, live or play at Espace Montmorency.
Construction will go on until 2022
Designed with a bold architecture revolving around a "block design" and aiming for both LEED Gold and LEED ND certification, Espace Montmorency will break ground in spring 2019 and is slated for completion in fall 2022. To facilitate construction management, the project will be divided into three parts:
- The first part involves construction of the foundation, an underground parking with 1,400 spaces (connecting the project to Montréal's underground network via the Montmorency metro station) and a 150,000-square-foot commercial podium erected on two floors;
- The second part will see construction of towers 1 and 4, which will house 700 residential units over 635,000 square feet;
- The third part is the construction of tower 2, which will offer 350,000 square feet of office space, and tower 3, which will include a 180-room hotel.
New headquarters for Groupe Sélection
To take advantage of this unique living space, Groupe Sélection has decided to move its head office to Espace Montmorency, where its employees will enjoy a more modern and user-friendly workspace, as well as an easier commute due to the underground access to indoor parking and the Montmorency metro station.
"True to our values, we have carefully planned Espace Montmorency so as to combine sustainable design and high-quality spaces while respecting the environment. We are very proud to break ground today. With the expertise of our partners, we are confident that the project will be completed on schedule. We chose to build this multifunctional project in a single phase so that future occupants can fully enjoy the Espace Montmorency experience as soon as the work is finished."
– Dario Montoni, President, Groupe MONTONI
"We are proud to contribute to Espace Montmorency, an innovative project that embodies a new way of thinking about urban development. This flagship project for the city of Laval is in line with our mission to create communities, by building living spaces that foster business relationships and bring together individuals of all generations. The emergence of this new dynamic neighbourhood will have a significant economic and social impact."
– Réal Bouclin, Founding President and CEO, Groupe Sélection
"Espace Montmorency is an important project for Laval that has been widely anticipated by the community. Not only will this bold development create more than 3,200 jobs, it will be at the heart of a new urban area in Laval where business, culture and community will coexist. Its strategic location near major arteries, public transportation and knowledge institutions, coupled with densification and a mix of uses, make Espace Montmorency a centrepiece of downtown Laval."
– Normand Bélanger, President and CEO, Fonds immobilier de solidarité FTQ
"Laval welcomes Espace Montmorency, an avant-garde urban development that fits directly into our strategic vision for the City's future. With its residential spaces, places of business, retail shops and common spaces, Espace Montmorency will contribute to the emergence of an innovative, human-scale neighbourhood that will contribute to the growth and vitality of downtown Laval."
– Marc Demers, Mayor of Laval
For nearly 25 years, Montoni has stood out in the construction and real estate industry for its client-based approach centred on market opportunities. MONTONI offers a complete range of unified and vertically integrated services covering all aspects of development projects, from excavation to interior design. Through its development division, MONTONI specializes in land and real estate acquisition for both construction and leasing. Proud to be named one of Canada's Best Managed Companies since 2001 and a member of the Platinum Club since 2007, MONTONI offers bold solutions in a competitive marketplace. With over 12 million square feet of industrial and commercial projects completed, 10 office buildings and 15 million square feet of projects under development, MONTONI is committed to building an avant-garde legacy that combines technology and sustainable practices. The company is a LEED-certified member of the Canada Green Building Council (CaGBC) with a portfolio that includes nearly 3.5 million square feet of LEED-certified buildings. www.groupemontoni.com
About Groupe Sélection
Groupe Sélection is a Canadian leader in the in the creation and management of intergenerational living environments where all generations can come together and thrive. Enjoying exceptional growth since its creation 30 years ago, Groupe Sélection is recognized as a market leader in the retirement home industry. The company continues to innovate with its avant-garde approach to intergenerational living and its unique, vertically-integrated structure. These assets are the key pillars driving its geographic expansion and diversification of its real estate products geared to young peoples, families and retirees. Groupe Sélection has more than 50 housing complexes in operation, construction and development in Canada and the United States and assets in excess of $4 billion. Headquartered in Laval, Québec, the company employs over 5,000 people committed to the well-being of some 15,000 customers and boasts an exceptional 95% satisfaction rate. www.groupeselection.com
About the Fonds immobilier de solidarité FTQ
Launched in 1991, 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. It backs residential, office, commercial, institutional and industrial projects of all sizes across Québec. At December 31, 2018, the Fonds immobilier had 52 projects worth $3.4 billion in progress, 69 properties under management, 1.5 million square feet of land for development and $82 million allocated to affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council. www.fondsimmobilierftq.com
SOURCE Fonds de solidarité FTQ
For further information: Media requests and information: Frédérick Truchon-Gagnon, For MONTONI, [email protected], Mobile : 438 350-1001; Mylène Dupéré, Groupe Sélection, [email protected], Mobile : 514-833-7880; Josée Lagacé, Fonds immobilier de solidarité FTQ, [email protected], Mobile : 514 707-5180