Griffintown: A major private project in an up-and-coming area

Press release

Griffintown: A major private project in an up-and-coming area

Montréal, August 30, 2010 – The Board of Trade of Metropolitan Montreal welcomes today’s announcement by the developer Devimco about relaunching the Griffintown development project. “This private development project worth $475 million is going to be central to the emergence of this area of the city where many institutional projects are already underway,” said Michel Leblanc, President and CEO of the Board of Trade.

“The investment in this major residential and commercial development is testimony to the beginnings of a recovery in Montréal,” said Michel Leblanc. “During our Strategic Forum on major projects in March, we expressed our strong desire to have private projects materialize over the next year. Devimco has stepped up, and the business community welcomes this announcement enthusiastically.”

“This new multi-faceted project will attract families to Montréal and give the City of Montréal the chance to invest in the revitalization of an entire neighbourhood,” said Mr. Leblanc. “The Griffintown project combines modern principles of sustainability and the rich heritage of an old working-class neighbourhood near downtown Montréal.”

“During public consultations for the initial project, the Board of Trade listed three conditions for supporting the project,” said Michel Leblanc. “We emphasized the importance of the quality of the project, its economic and social benefits, as well as innovation, particularly in terms of sustainable development. The new version of the project not only meets these conditions, it also combines the initial ambition of the project with the reality of the new economic situation. A credible, experienced developer has partnered with a team of renowned architects and urban developers. We have all the ingredients for the successful completion of a major project that will make its mark on Montréal.”

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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Sylvie Paquette
Coordinator, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4015


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