LE SEVILLE: it's a go! - Work begins today in downtown Montreal, on Ste.
Catherine St. West at Chomedey

MONTREAL, June 8 /CNW Telbec/ - Développement Immobilier Seville Inc., a partnership between Claridge Inc. and Prével, is proud to announce that site preparation work for residential and commercial complex LE SEVILLE was officially launched today in the presence of Montreal Mayor, Mr. Gérald Tremblay.

Mr. Tremblay said he was pleased to see a major project being realized in the neighbourhood. "This important revitalization project is excellent news in terms of the impact it will have on urban, social and economic development. The revitalization of the Îlot Seville as well as the western part of Ste. Catherine Street will contribute to the economic dynamism of downtown Montreal while simultaneously offering a better quality of life to the thousands of people who live, work and study in the immediate area," said Gérald Tremblay, Mayor of Montreal and Mayor of the Ville Marie borough.

More than 100 million dollars will be invested in downtown Montréal by Développement Immobilier Seville. LE SEVILLE will be a first step in the transformation of Shaughnessy Village. Prével's ability to revive entire neighbourhoods through its building projects has already been demonstrated with the Quai de la Commune, Lowney and Impérial. LE SEVILLE will offer a quality, mixed-use development composed of affordably priced apartments, accessible to a diverse market. Commercial spaces are also planned at the street level of this residential complex, which will be located on the northern side of Ste. Catherine Street West, between Chomedey and Lambert-Closse, near the old Forum.

"LE SEVILLE is a large-scale project of which we are particularly proud. In the coming months, our efforts will mainly be focused on demolition work and to get the site ready for construction. We therefore plan to begin the construction work of LE SEVILLE during the fall of 2010 to allow for a first delivery in the spring of 2012. We are really happy to finally be able to start working on the site," said Jacques Vincent, from Prével.

Stephen Bronfman, Chairman of Claridge, added: "We made sure to develop a project well adapted to the specific needs of a sector that is clearly strategic for Montreal. We also took the time to select dependable partners who shared our preoccupation for sustainable development. This partnership with Prével allows us to finally materialize our will to offer a project that is both accessible and affordable for the sector."

Développement Immobilier Seville plans to open a sales office this coming August. Details on the evolution of the project will be available at the following address: www.leseville.ca.

About Claridge Inc.

Claridge, a Montreal-based investment firm representing the interests of the Stephen R. Bronfman family, is actively involved in the management of a diverse portfolio of third-party managed investments, as well as direct interests in branded and private label food manufacturing businesses throughout Canada and the United States. In addition, Claridge actively evaluates opportunistic real estate investments with seasoned operators.

About Prével

With more than 30 years of experience, Prével is a property developer renowned for its ability to deliver innovative architectural solutions and projects with a unique character creating quality environments. Prével proudly built projects such as the Loft Impérial (Saint-Henri), the Quai de la Commune (Old Montreal), and the Lowney (Griffintown). An award winning company, Prével has among other distinctions been recently received the awards of Builder of the Year and Project of the Year by the Association provinciale des constructeurs d'habitations du Québec (APCHQ).

For further information: Annie Paré, [phone] x. 227, [phone]