A 253-unit condominium project for a total investment of 111 million dollars in Quartier des lumières
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MONTREAL, April 18, 2023 /CNW/ - Today, Groupe Devimco and its partners, Fonds immobilier de solidarité FTQ and Fiera Real Estate, proceeded to the official groundbreaking ceremony for the Auguste & Louis Phase 2 project in Quartier des lumières, at the intersection of René-Lévesque Boulevard East and Beaudry Street, in the heart of the illustrious site of the former CBC/Radio-Canada tower.
Valued at $111 million, Phase 2 features 253 condominium units over 21 floors. Studios and one- to three-bedroom units span up to 1,259 square feet. The first units are scheduled for delivery in 2025. This second phase is part of a major real estate project of 2,200 condominium units in Quartier des lumières, representing a total investment of $1.15 billion.
The architecture of Auguste & Louis Phase 2, designed by the firm Provencher_Roy, is intended to be a continuation of the first phase of the project. To embody the motion-picture theme inspired by the Lumière brothers, the building's architecture has been carefully thought out to offer a play of light that varies from light to dark.
Designed to showcase the best of urban living, Auguste & Louis Phase 2 balances the dynamism of the city with the tranquillity of the surrounding greenery through its vast common spaces, including a rooftop terrace with an urban garden, an outdoor lounge with a BBQ area, fire pit, Adirondack chairs, urban gardens and a pergola, an indoor lounge on the ground floor with a double-height ceiling that can be privatized, and a majestic 32,000 sq. ft. landscaped inner courtyard.
"Groupe Devimco is extremely proud to contribute to Montreal's economic vitality by investing a total of nearly $1.15 billion for the construction of 2,200 residential units in this historic neighbourhood that promises to become a beacon of the city. The Quartier des lumières will redefine the landscape of the Ville-Marie borough, and we are particularly excited to contribute to building this unique living environment for Montrealers," said James Goulet, partner of Groupe Devimco.
"Based on the positive response to Auguste & Louis Phase 1, launched in 2021, we are proud to continue our partnership for the second phase of this job-creating project. It will enhance the residential offer in the Ville-Marie borough by creating a dynamic living environment for Montrealers, whether they are first-time buyers or discerning clients looking for the freedom a low-maintenance property provides," said Martin Raymond, Senior Vice-President, Real Estate Investments, Fonds immobilier de solidarité FTQ.
"We are excited to begin Phase 2 of this landmark project for Montreal, which promises to modernize the historic Faubourgs area at the gateway to downtown. This second phase is part of a mixed-use real estate project that spans 4 million sq. ft., including more than 2,000 residential units, 1 million sq. ft. of office space and close to 230,000 sq. ft. of commercial space," said Pierre Pelletier, Head of Real Estate Development and Financing at Fiera Real Estate.
Auguste & Louis
The project's architectural concept, which will stand out with its contrasts and plays of light, is rooted in the theme of the Quartier des lumières, paying tribute to the Lumière brothers. The double-height lobby will also allude to the art of cinema by immersing residents in an atmosphere reminiscent of "black box" film projection.
On the roof, green spaces will be designed to promote a friendly and lively community spirit. The project will be crowned by an outdoor rooftop pool offering residents a breathtaking panoramic view stretching from the Jacques Cartier Bridge to the downtown core.
Auguste & Louis Phase 2—highlights:
253 residential units for Phase 2
312 to 1259 sq. ft. units (studios and 1- to 3-bedroom condos)
Over 21 floors
Access to a landscaped inner courtyard
Outdoor rooftop lounge with BBQ area, fireplace, Adirondack chairs, urban gardens and pergola
An indoor lounge on the ground floor with a double-height ceiling that can be privatized
Phase 1 and Phase 2—shared common areas:
14,200 sq. ft. of shared common areas for Phase 1 and Phase 2, plus a 32,000 sq. ft. inner courtyard
An urban chalet with an unobstructed view of downtown
About Quartier des lumières
Groupe MACH, the developer of the Quartier des lumières, is one of the largest private real estate owners and developers in Canada. At the gateway to downtown, the Quartier des lumières is a mixed-use development of approximately 4 million square feet of buildable space. Its residential component will consist of nearly 3,000 residential units including rental apartments, condominiums, social, and affordable housing. The creation of 1 million sq. ft. of office space will make it possible to accommodate several thousand workers on the site, and close to 230,000 sq. ft. of large-scale commercial space and convenience stores, stores. This includes 200,000 sq. ft. of basement floor space and 30,000 sq. ft. of street-level retail space that will complete the sector's current offer. This mix of uses, combined with its accessibility by public and active transportation, makes it the perfect example of the "quarter-hour city" concept. Its large park, spanning 68,000 sq. ft. over two lots, and numerous plazas will increase dedicated green spaces by 200%, reducing heat islands by 80%. The site will also house a community space and a school.
About Fonds immobilier de solidarité FTQ
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.
About Fiera Real Estate
Fiera Real Estate is a leading investment management company with offices in North America and Europe and a team of over 80 employees. The firm globally manages over C$7.8 billion of commercial real estate through a range of investment funds and accounts as of September 30, 2022. It is an entrepreneurial team working within an institutional framework, enabling clients to benefit from a unique combination of creativity and innovation supported by industry-leading expertise and investment analysis – the best of both worlds. The highly diverse nature of its portfolio – in terms of both geographies and types of properties – combined with a range of best-in-class strategies provides investors with exceptional opportunities to diversify their exposure and customize their investment experience within the real estate asset class.
Fiera Real Estate is wholly owned by Fiera Capital Corporation, which provides Fiera Real Estate with access to global investment market intelligence, enhancing its ability to innovate within a framework that emphasizes risk assessment and mitigation.
About Groupe Devimco
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.
SOURCE Groupe Devimco
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