Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • Data Privacy
  • Français
  • my CNW 
    • Login
    • Register
  • Client Login 
    • Online Member Centre
    • Next Gen Communications Cloud
    • Cision Communications Cloud®
  • Sign Up
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
Advanced Search
  • News in Focus
      • Browse News Releases

      • All News Releases
      • All Public Company
      • News Releases Overview

      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
      • Multimedia Gallery Overview

      • Trending Topics

      • All Trending Topics
  • Business
      • Auto & Transportation

      • All Automotive & Transportation
      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • Auto & Transportation Overview

      • View All Auto & Transportation

      • Business Technology

      • All Business Technology
      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • Business Technology Overview

      • View All Business Technology

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Financial Services & Investing

      • All Financial Services & Investing
      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • Financial Services & Investing Overview

      • View All Financial Services & Investing

      • General Business

      • All General Business
      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • General Business Overview

      • View All General Business

  • Science & Tech
      • Consumer Technology

      • All Consumer Technology
      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • Consumer Technology Overview

      • View All Consumer Technology

      • Energy & Natural Resources

      • All Energy
      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • Energy & Natural Resources Overview

      • View All Energy & Natural Resources

      • Environ­ment

      • All Environ­ment
      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • Environ­ment Overview

      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • All Heavy Industry & Manufacturing
      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • Heavy Industry & Manufacturing Overview

      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • All Telecomm­unications
      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • Telecomm­unications Overview

      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • All Consumer Products & Retail
      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • Consumer Products & Retail Overview

      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • All Entertain­ment & Media
      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • Entertain­ment & Media Overview

      • View All Entertain­ment & Media

      • Health

      • All Health
      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • Health Overview

      • View All Health

      • Sports

      • All Sports
      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • Sports Overview

      • View All Sports

      • Travel

      • All Travel
      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • Travel Overview

      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • All Policy & Public Interest
      • Advocacy Group Opinion
      • Animal Welfare
      • Canadian Federal Government
      • Canadian Municipal Government
      • Canadian Provincial Government
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • Policy & Public Interest Overview

      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • All People & Culture
      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • People & Culture Overview

      • View All People & Culture

  • Advanced Search
  • Overview
  • Multichannel Amplification
  • Monitoring
  • Distribution
  • Multimedia
  • Guaranteed Paid Placement
  • AI Tools
  • IR
  • Become a Client
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • General Enquiries
  • Media
  • Worldwide Offices
  • Hamburger menu
  • Cision Canada
  • Send a Release
  • FR
    • Phone

    • 877-269-7890 from 8 AM - 10 PM ET

    • ALL CONTACT INFO
    • Contact Cision

      877-269-7890
      from 8 AM - 10 PM ET

  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
    • Trending Topics
  • Business
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR
  • Overview
  • Multichannel Amplification
  • Monitoring
  • Distribution
  • Multimedia
  • Guaranteed Paid Placement
  • AI Tools
  • IR
  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR
  • Become a Client
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • General Enquiries
  • Media
  • Worldwide Offices
  • Send a Release
  • Sign Up
  • Resources
  • Blog
  • Journalists
  • Webcasts
  • GDPR

Redevelopment of the Quartier des spectacles: Real estate economic benefits assessed at $1.5 billion Français


News provided by

PARTENARIAT DU QUARTIER DES SPECTACLES

Jan 27, 2015, 13:00 ET

Share this article

Share toX

Share this article

Share toX

MONTRÉAL, Jan. 27, 2015 /CNW Telbec/ - The Quartier des spectacles Partnership, the Board of Trade of Metropolitan Montreal and the Ville de Montréal today released the results of the Study on the Real Estate Benefits of the Quartier des Spectacles, which puts the benefits attributable to real estate projects completed since the 2007 announcement of the Quartier des spectacles redevelopment effort at $1.5 billion. The study also shed light on the power of attraction and incentive to investment of this urban redevelopment among merchants. A study was done with 43 businesses of different types among the 120 businesses with storefronts in the Place des Arts area.

"The Quartier des spectacles project is an exciting one," said Jacques Primeau, Chair of the Board of the Quartier des spectacles Partnership. "In just over a decade, this 1 km2 area that is an undeniable cultural asset has flourished in the heart of downtown Montréal. This unifying, ambitious project has created an unprecedented consensus among actors from the cultural sphere. It has been a catalyst, prompting three levels of government to participate financially. The Quartier des spectacles is proof that culture can be a driver of development. This study demonstrates exactly that. And this is only the beginning. Other parts of the Quartier need to be revitalized, particularly the eastern portion so that it too can blossom. We need to build on our momentum, ensuring that culture remains central to the project and that it reaps the benefits of it. Already, new projects have helped consolidate the cultural vocation of the Quartier. And recent real estate projects have further reinforced that. We are delighted with the fact that 25% of the total real estate investments were devoted to cultural projects."

"For over a decade, the Board of Trade of Metropolitan Montreal has been raising awareness in the business community about the critical role of culture in the city's economic development," said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. "During that same period, the Quartier des spectacles – a complete urban district meant to promote culture – has taken shape before our eyes. The study released today confirms the impact and puts the real estate economic benefits of this dramatic redevelopment effort at over $1.5 billion. The magnitude of these benefits shows how revitalizing a district, if done well, can be the spark for major new real estate projects. Plus, the survey conducted among merchants in the Quartier shows that, thanks to the area's redevelopment, we succeeded in creating an environment that fosters private investment. This sort of success, in the context of the economic crisis that existed when the work was launched, should guide us and inspire us in carrying out significant urban projects in the future in Montréal."

"The study we released today confirms yet again than investments in culture generate major benefits that are leverage for and a driver of economic development," said Montréal Mayor Denis Coderre. "This area has always been a site for culture and entertainment in Montréal, and public investments have not only improved the urban environment of the Quartier des spectacles, they have also encouraged private investments, which have enhanced the project and helped revitalize the area. On the eve of the 375th anniversary of Montréal, we will continue to invest in the Quartier des spectacles, particularly through the development of the Esplanade Clark in 2017. This flurry of activity in the heart of our city helps position Montréal as an important cultural metropolis."

Study highlights

  • Real estate economic benefits:
    • Since 2007, over $1 billion has been invested in 48 real estate projects identified.
    • These investments ultimately represent a tax surplus (GST, QST, property and school tax) for different levels of government of around $530 million over the useful life of these new projects.
      • According to estimates, $148 million of this surplus has been already collected since 2007.
  • Commercial impacts:
    • 88% of respondents are satisfied with the new development in the Quartier des spectacles and with the cultural events that have made its reputation.
    • 67% of merchants doing business in the Quartier before 2007 reported having undergone renovations, and the same proportion saw an increase in sales.
    • 35% of merchants doing business in the Quartier before 2007 have increased their staff.
    • 53% of merchants surveyed have been doing business in the Quartier for less than a decade. In explaining why they choose the area, in order of importance, they pointed to the proximity of the clientele, the presence of festivals and events, and traffic on their street.

About the Study on the Real Estate Economic Benefits of the Quartier des Spectacles

In fall 2014, the Quartier des spectacles Partnership, the Board of Trade of Metropolitan Montreal and the Ville de Montréal awarded the Groupe Altus, a firm that specializes in the real estate sector, the mandate to conduct a study on the real estate economic benefits and commercial impact of the redevelopment of the western portion of the Quartier des spectacles.

Conducted in two parts, the study was intended to:

  • Assess the real estate economic benefits in terms of investments made since 2007 and those planned for projects underway and deliverable by 2016.
  • Survey merchants established in the Quartier des spectacles to determine the impact of the redevelopment on attracting new businesses and on traffic, sales and job creation within existing businesses.

To consult a summary of the study, click here.

About the Quartier des spectacles Partnership
Created in 2003, the Quartier des spectacles Partnership is a not-for-profit organization that brings together some 60 members who are active on its territory. Its board is composed of representatives from the cultural, institutional, educational and business sectors, the city of Montréal as well as local residents. The Quartier des spectacles allows the key stakeholders on its territory to combine their efforts and act in concert. It is supported by the Ville de Montréal as well as diverse partners.

About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal has over 7,000 members. Its mission is to be the voice of Montréal's business community and to promote the city's prosperity. It is involved in key areas of economic development, advocating a philosophy of action based on engagement, credibility, proactivity, collaboration and innovation. The Board of Trade also offers a range of specialized services to individuals and to business of all sizes to support them in their growth at home and abroad.

SOURCE PARTENARIAT DU QUARTIER DES SPECTACLES

Catherine Maurice, Press Attaché to the Mayor, Ville de Montréal, 514 346-7598; Isabelle Poulin, Media Relations, Ville de Montréal, 514 868-3888, [email protected]; Marie-Joëlle Corneau, Senior Consultant, Public Relations, Quartier des spectacles Partnership, 514 348-9676, [email protected]; Michelle LLambias Meunier, Advisor, Media Relations, Board of Trade of Metropolitan Montreal, 514 871-4000 ext. 4042, [email protected]

Modal title

Organization Profile

PARTENARIAT DU QUARTIER DES SPECTACLES

Contact Cision

  • 866-245-2317
    from 8 AM - 10 PM ET
  • Become a Client
  • Request a Demo
  • Editorial Bureaus
  • Partnerships
  • General Enquiries
  • Media

Products

  • Cision Communications Cloud®
  • Media Monitoring
  • Content Distribution
  • Multimedia Distribution
  • Measurement & Analytics
  • Investor Relations

About

  • About Cision Canada
  • About Cision
  • Media Partners
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Online Member Centre
  • Next Gen Communications Cloud
  • Cision Communications Cloud®
  • my CNW

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Centre
  • Next Gen Communications Cloud
  • Cision Communications Cloud
  • my CNW
877-269-7890
from 8 AM - 10 PM ET
  • Terms of Use
  • Information Security Policy
  • Site Map
  • Cookie Settings
  • Accessibility Statement
Copyright © 2025 CNW Group Ltd. All Rights Reserved. A Cision company.