Montréal, March 21, 2014 – The Board of Trade of Metropolitan Montreal held the eighth edition of its Strategic Forum on major real estate projects today, with the Minister of International Relations, La Francophonie and External Trade and Minister responsible for the Montréal region, Jean-François Lisée, in attendance. Close to 400 decision makers gathered to discuss major real estate and urban revitalization projects on the Island of Montréal, in Laval and in the Agglomération de Longueuil. These projects, representing an investment of over $5 billion, are testimony to the steady pace of the city’s real estate market.
“The strength of the real estate market is still very much in evidence,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “The densification of the downtown core continues. Major institutional projects, supported by the new city administration, are in the works for Montréal’s 375th anniversary celebrations. Surrounding municipalities are also experiencing a boom. Basically, the conditions are right to make Montréal a city turned toward the future.”
“Cadillac Fairview explained the form its massive investment of $2 billion will take in the Windsor Station area,” Michel Leblanc said. “By creating a large-scale district from scratch with nine residential and commercial towers, this major developer will transform the face of downtown. Plus the investment of $1 billion over three years announced by Ivanhoé Cambridge, notably for an observatory at the top of Place Ville Marie, is a perfect example of the desire to redefine how downtown is experienced, particularly Sainte-Catherine St. The new 28-storey rental space building at 900 De Maisonneuve Blvd. West that will seek LEED Gold certification also demonstrates a long-term vision for the city’s development. The Société de développement Angus will develop a unique mixed complex valued at $160 million, a major part of which will promote culture. All of these structuring projects will connect neighbourhoods that were previously isolated to create an urban whole with incredible potential.”
“Major institutional projects will be making their mark as well,” Mr. Leblanc said. “The Université de Montréal Science Complex on the Outremont campus is taking shape and will consolidate Montréal’s position as a university city. The Pointe-à-Callière Museum, located on the site of the foundation of Ville-Marie, will become a world-class historical tourist attraction for 2017, thanks to a $110 million investment. The Space for Life is modernizing its facilities by way of an international architecture competition to reinforce Montréal’s status as a UNESCO City of Design. While these projects will definitely contribute to Montréal’s reputation, we also have to ensure that they serve as catalysts for private structuring investments in the surrounding areas.”
“For the first time, this Strategic Forum played host to representatives of the cities of Laval and Longueuil, municipalities that are also planning development based on quality living environments,” Michel Leblanc said. “Their involvement in developing a shared metropolitan vision is essential to restoring the city’s momentum. For it to prosper and be competitive, Montréal has to have a strong downtown core and ambitious projects in the surrounding areas.”
For an overview of the Strategic Forum on major real estate projects, click here and watch our video.
About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity, and competitiveness. The Board of Trade is Quebec's leading private economic development organization.
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Michelle LLambias Meunier
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4042
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