Fonds immobilier de solidarité FTQ Invests in Sfère Condos in Ahuntsic

MONTREAL, April 18, 2012 /CNW Telbec/ - Fonds immobilier de solidarité FTQ has partnered with Loracon Construction and Struktur, respectively the contractor and the co-developer of the Sfère Condos project in Montréal's Ahuntsic-Cartierville borough. The residential condominium project will consist of 112 units, to be built in two phases. The first will require the revitalization of an old industrial building and the second will see the construction of a new building adjacent to the first.

"Right now the market is conducive to the development of these competitively-priced condos, which are geared to families and located in a thriving neighbourhood," said Normand Bélanger, President and CEO of Fonds immobilier de solidarité FTQ. "This project is in a prime location and allows us to forge business ties with two new seasoned partners and help create almost 200 jobs."

Sfère Condos will be centrally located in a mature residential neighbourhood, within walking distance of the stores and restaurants in Promenades Fleury and within easy reach of public transit. In fact, one of the stations of the new Train de l'Est, which will ferry commuters between Mascouche and downtown Montréal, will be built around 2014 near the Sauvé metro station, not far from the Sfère condos. For the first phase, an old textile place will be converted to accommodate 84 units while Phase 2 will see the construction of a brick and wood 28-unit building adjacent to Phase 1.  The complex will offer studios and 1-, 2- and 3-bedroom units, ranging from 775 to 1,170 sq. ft. in size, as well as 122 parking spaces.

About the Fonds immobilier de solidarité FTQ
Created in 1991 by the Fonds de solidarité FTQ, 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. Over the last 20 years, the Fonds immobilier has invested upwards of $1 billion in 300 such projects, creating and preserving some 26,300 in Québec. For more information, visit www.fondsimmobilierftq.com

For more information, visit www.fondsimmobilierftq.com. Photo available from the undersigned.

For further information:

Information for media only:
Josée Lagacé
Communications and Marketing Director
Fonds immobilier de solidarité FTQ
Phone :  [phone]
Mobile :  [phone]
Email : [email protected]