New light-rail system (REM) launch: Official opening of the pedestrian overpass connecting the Du Quartier station to the SOLAR UNIQUARTIER project in Brossard Français
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BROSSARD, QC, July 28, 2023 /CNW/ - In anticipation of the REM's official launch on July 31, Groupe Devimco and its partners, the Fonds immobilier de solidarité FTQ and Fondaction, are proud to inaugurate the pedestrian overpass connecting the Du Quartier station to the SOLAR UNIQUARTIER project in Brossard.
Groupe Devimco worked closely with the City of Brossard and CDPQ Infra to build this impressive pedestrian overpass above Highway 10. To date, the SOLAR UNIQUARTIER project has invested more than $16 million in the REM.
SOLAR UNIQUARTIER, a project developed by Groupe Devimco in partnership with the Fonds immobilier de solidarité FTQ and Fondaction, is the largest mixed-use real estate development project in Quebec, as well as the largest transit-oriented development (TOD) project in the province. It represents an investment of more than $1 billion to date and $3 billion over time.
SOLAR UNIQUARTIER has nearly 2,600 residential units already built and will have a total of 7,000 units, including residential units, condominiums, and rental apartments. The project also includes a business hub with office space, local services and shops, a host of restaurants, a hotel, a gathering place for special events on Place de la Gare, and two educational facilities (the Université de Montréal campus and the Institut Teccart campus). The residential units and condominiums are 85% sold for the first phases of the project, and the rental units are 95% leased. Other residential projects are on the horizon to meet demand.
"The new REM is a major attraction for SOLAR UNIQUARTIER tenants and owners who will benefit from a fast and reliable connection to the city. With a 15-minute commute to downtown Montreal, the REM offers the flexibility of getting around quickly without a car. Groupe Devimco has developed leading-edge expertise in the implementation of mixed-use real estate projects based on public transit," said James Goulet, Partner at Groupe Devimco.
"The REM will accelerate the shift towards sustainable development and make it easier for residents and workers to get around. SOLAR UNIQUARTIER is a TOD project designed with public transport at the heart of its concept, and the new light-rail system will redefine day-to-day travel. We are delighted to be taking part in this important milestone, and we acknowledge the collective effort towards greener mobility that is accessible to all," added Martin Raymond, President and CEO of the Fonds immobilier de solidarité FTQ.
"The SOLAR UNIQUARTIER project, with its pedestrian overpass that connects it to the REM, perfectly illustrates our sustainable cities and communities investment philosophy. Fondaction supports mixed-use real estate projects close to public transit to create sustainable living environments for occupants and users, while reducing car use and GHG emissions," concluded Chad Ruel, Senior Real Estate Portfolio Manager at Fondaction.
As part of the open house event on Saturday, July 29, and Sunday, July 30, we invite the general public to come and celebrate this memorable moment at the Du Quartier station. A host of activities will take place, including a 12-foot-high ceiling of colourful lanterns and many fun games for children. There will also be music, Instagram competitions, ambassadors, a mascot, tastings, and surprises from local merchants. For the occasion, access to the REM will be free between 9 a.m. and 7 p.m. on Saturday and Sunday.
Groupe Devimco is a Québec real estate development leader that stands out for the creation and execution of large real estate projects, in particular lifestyle and TOD complexes that blend commercial, business, leisure, and housing components. Combining innovation and creativity, Groupe Devimco participates in enhancing the environments it creates and the communities where they are located, for the benefit of its occupants and visitors. Devimco and Concordia University recently partnered to found the university's Next-Generation Cities Institute.
Since 2005, Groupe Devimco has been developing District Griffin®, a vibrant area where a genuine community is taking root. Another of its projects is SOLAR UniquartierTM, Québec's largest TOD project. Groupe Devimco is also building Square Children's®, a new flagship project at the western extremity of Montréal's downtown core that is revitalizing the former site of the Montréal Children's Hospital and the entire neighbourhood.
The developer also began construction in 2020 on the MAA Condominiums & Penthouses® on Peel Street in Montréal's downtown core, a project as rich as the history of the MAA Sports Club, whose revitalization will be part of it. Maestria Condominiums®, the largest mixed-use residential project ever built in Montréal, located in the heart of the Quartier des Spectacles, was also launched in late 2019. It was followed, in 2021, by the launch of the Auguste & Louis Condominiums®, a unique project that marks the first phase of the Quartier des lumières, located on the site of the former Maison Radio-Canada building. Devimco's newest condo and penthouses project is Wellington sur le Bassin®, at the corner of Wellington and De la Montagne streets.
Finally, Groupe Devimco is now completing the first phase (Sir Charles Condominiums) of a major TOD project in the City of Longueuil's downtown and Longueuil—Université-de-Sherbrooke metro station area.
The Fonds immobilier de solidarité FTQ has been helping to drive economic growth and employment in Québec for over 30 years by strategically investing in profitable and socially responsible real estate projects in partnership with other industry leaders. The Fonds immobilier backs residential, office, commercial, institutional and industrial projects of all sizes across Québec. As of December 31, 2022, the Fonds immobilier had 43 projects worth $4.8 billion in development or construction of which the latter will ultimately create 27,150 jobs, 65 portfolio properties under management, 3.7 million square feet of land for development and a cumulative total of $291 million invested in social and community projects. The Fonds immobilier is a member of Bâtiment durable Québec.
A trailblazer for over 25 years, Fondaction is the investment fund for those committed to the positive transformation of Quebec to make it a more productive, equitable, inclusive and greener economy. As a labour-sponsored fund, Fondaction represents tens of thousands of investors and hundreds of companies committed to the progress of Quebec. It manages a total of $3.34 billion in net assets invested in several hundred companies and in financial markets, prioritizing investments that generate positive economic, social and environmental benefits in addition to financial returns. The company participates in initiatives to maintain and create jobs, eliminate inequality and fight climate change. For more information, visit fondaction.com or its LinkedIn page.
SOURCE Groupe Devimco
Justin Meloche, 514 995-9704, [email protected]
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