Fonds immobilier de Solidarité FTQ and Trigone to Revamp Laval Neighborhood
- Dec 18, 2015
Quebec, Canada–The Fonds immobilier de solidarité FTQ has teamed up with residential developer Habitations Trigone for the construction of a 1,400-unit condo project in the up-and-coming Laval-des-Rapides neighborhood in Laval, a Canadian city located in southwestern Quebec.
Called District Concorde, the new development will be built in 15 phases over a time span of eight years. The initial $214 million (C$300 million) phase, consisting of a seven-story building with 58 one-, two- and three-bedroom units and underground parking, will be ready for occupancy in a few weeks. The property is located at the intersection of Léo-Lacombe and François-Souillard, in proximity of the De la Concorde metro and train stations.
“District Concorde was designed to reflect our vision of an accessible real estate project, built according to environmentally friendly and sustainable development principles. We also make it a point to look for locations that are conducive to Transit-Oriented Development (TOD), and in so doing, provide owners with easy access to public transit, shops, daycare facilities and schools,” said Patrice Saint-Pierre, president of de Habitations Trigone.
“With public space next to a metro station, many trees, multipurpose path and a pedestrian and cycling overpass to cross the railroad tracks to the other side of the neighborhood on the west side of the metro station, this project is consistent with the objectives of Laval’s Programme particulier d’urbanisme (PPU) and sustainable urban development policy. This $300 million project is important for the area and will create some 2,500 jobs, which is just one more great spinoff,” added Normand Bélanger, president & CEO of the Fonds immobilier de solidarité FTQ.
The Fonds immobilier and Habitations Trigone have also partnered for the construction of Le Namur, a residential rental project on Place de la Savane in Montréal.
The Fonds immobilier and its partners have invested more than $250 million (C$350 million) to date in residential, commercial and office projects in the greater Laval area. The company is currently involved in four major projects that are contributing to the city’s revitalization, including Concorde District. These four projects alone, which total an investment of more than $714 million (C$1 billion), will lead to the creation of about 8,000 jobs over eight years.
One of the projects is Espace Montmorency, a bold $300 million (C$420 million) development the Fonds immobilier is building in partnership with Montoni and Claridge. Upon completion, Espace Montmorency, which will offer direct access to the Montmorency metro station, will consist of about 10 mixed-use buildings (retail, office, hotel, entertainment and public services).
Meanwhile, Urbania 2, a residential development in which the Fonds immobilier has teamed up with Société de développement Urbania, will offer 1,150 condos spread over six buildings.
Another major project, Industria 440, is a new industrial park aiming for LEED certification. The project will rise on a 1.5-million-square-foot lot on Autoroute 440 near Autoroute 13, and will consist of industrial and commercial condos built in partnership with construction company Consoltec.
Rendering courtesy of The Fonds immobilier de solidarité FTQ