Cadillac Fairview Plans Massive Residential and Commercial District in Downtown Montreal
- Apr 17, 2014
Montreal, Canada—Cadillac Fairview, the real estate arm of Ontario Teachers’ Pension Plan, has recently unveiled its updated plans to develop the impressive Quad Windsor, a new residential and commercial district in downtown Montreal.
The company aims for the development of a total of nine buildings, including the Tour des Canadiens residential high-rise (pictured) and the Deloitte Tower office project, both of which are currently under construction.
Over the next 15 years, Cadillac Fairview intends to build five new residential high-rises and two office towers south of Saint-Antoine Street.
The projects are part of the company’s $2 billion development plan, which will completely transform the city’s downtown core, according to Salvatore Iacono, Cadillac Fairview’s senior vice-president, Development and Portfolio Management, Eastern Canada.
“We are aiming for a mixed-use development that includes office, residential and retail components, for a total of more than 4 million square feet. Such a combination of uses will contribute to creating a vibrant new downtown neighborhood that will successfully continue the natural extension of Montreal’s downtown core, adding new signature towers to the skyline and much-improved connections to neighboring districts and Griffintown,” says Iacono.
Cadillac Fairview is working with the City of Montreal to study and review the proposed project, which will be based on sustainable development principles.
The new district will be completed in four phases, as outlined below:
- The first phase will bring two 38-story residential towers located at 1150 and 1250 Saint-Antoine West, in the block formed by De la Montagne, Saint-Antoine, Jean d’Estrées and Torrance streets. Designed by IBI Group, the buildings will be connected across Sainte-Antoine Street by an aerial walkway, allowing pedestrians to cross Saint-Antoine without having to walk outdoors.
- The second phase will include two office towers located at 750 Peel, with a total leasable area of 1.1 million square feet. Designed by internationally renowned Adrian Smith + Gordon Gill Architecture of Chicago, the project will also feature a plaza and vibrant retail offerings on the north side, while the south side will include terraced gardens along the sidewalk, skylights below and public access to the underground network. While at Skidmore, Owings and Merrill, architects Adrian Smith and Gordon Gill have also designed the Burj Khalifa in Dubai.
- The third phase of the development is planned at 600 Peel and features three residential towers facing Peel and Saint-Jacques streets, with a total potential of up to 1.5 million square feet. Also designed by Adrian Smith + Gordon Gill Architecture, the towers will include townhouses at the base, as well as more retail space and services.
- The final phase of Quad Windsor will include the restoration of the historic Windsor Station, the city’s former rail station that inspired Cadillac Fairview’s overall plans for Montreal.
One of North America’s largest owners, operators and developers of commercial real estate, the Cadillac Fairview Corporation Limited is wholly owned by the Ontario Teachers’ Pension Plan, which invests to secure the retirement income of 303,000 active and retired teachers in Ontario.
With a portfolio valued at more than $23 billion, Cadillac Fairview and its affiliates own and manage nearly 44 million square feet of leasable space at 75 properties across North America, including some of Canada’s landmark developments, such as Toronto-Dominion Centre, Toronto Eaton Centre, Pacific Centre, Chinook Centre and the Montreal Fashion Centres (Carrefour Laval, Galeries d’Anjou, Promenades St-Bruno and Fairview Pointe Claire).