After months of rumors and speculation, the promoters of the Espace Montmorency, a huge building complex 420 million set out like large Lego blocks, today launch their project in Laval.
The property FTQ Solidarity Fund and Claridge MONTONI are equal partners in this futuristic project. The complex, adjacent to the future Bell Place and connected to the Montmorency metro station will be built in four phases from the end of 2016. It should be completed in the next five years, according to the consortium.
“We really focused our development near the metro station because we really think this is where we will attract people,” explained Normand Bélanger, CEO of Real Estate Fund QFL Solidarity during an exclusive presentation La Presse Affaires.
The project will comprise ten buildings nested within each other, the maximum height could reach 20 floors. The complex “multipurpose” designed by Sid Lee Architecture will include a hotel, offices, shops, shared workspaces for young companies and many public squares and green terraces.
It was in 2003 that the Fonds FTQ began to acquire more land around the Montmorency station in anticipation of future development. Densification has accelerated since two years, with the construction of the Bell Place – a cultural and sporting amphitheater of 10,000 places – and Urbania residential complex that will include condos term in 1150.
“Around the Place Bell, there will be a dramatic change in terms of animation,” argued Pierre Boivin, CEO of Claridge, who took part in the meeting.
“What we mainly research, it is not as signature projects, which involve some notion of pride, but of transformative projects that will change the quality of life in an area, sued former CEO Canadiens Montreal. It comes close to Espace Montmorency. ”
Jean Pelland, senior partner at Sid Lee Architecture, also believes that this project will consolidate the vicinity of Montmorency metro as new urban center foreground. “Laval always moves its downtown every year it moves, but now we really feel that it is being set.”
The four phases of the project will include each have their own underground parking as well as their common areas and commercial spaces. Manufacturers’ phasing will both horizontally and vertically, “says Jean Pelland and build the complex as assembling large Lego blocks.
“According to the velocity of the market, there will be the possibility of adding blocks over,” said the architect during his presentation.
Each “block” will have an area of about 10 square feet 0000, and the total area of Laval complex is expected to be just over 1 million square feet. This is more than the 1000 de La Gauchetière, a skyscraper 51 floors of which has 898,000 square feet.
He may Laval’s market absorb this amount of new office? According to a report from the firm Colliers, the availability rate (including spaces offered for sublease) stood at 15.7% at the beginning of the year in Laval, against 10.6% in downtown Montreal .
Dario Montoni, president of MONTONI builder, nevertheless shows confidence. He noted that developers are already in discussions with several potential tenants, including international retailers hospitality.
“It’s a product that is unique, he has argued La Presse Affaires. The fact that creates a building like this, which brings together several needs, it’s interesting to attract a company. We see this as a metropolitan project, not a project of Laval. ”
Snippets of information about the project had been circulating in the media Laval last spring after MONTONI had published pictures on its website. The group had quickly removed the data of its website, and the consortium had never given any details publicly last Friday before the meeting.
The project will be officially launched Monday as part of the real estate forum Laval.