Cadillac Fairview Breaks Ground on Second Residential Rental Project in Montréal Metropolitan Area at CF Carrefour Laval Français
MONTRÉAL, Nov. 18, 2024 /CNW/ - Cadillac Fairview (CF), is pleased to announce the launch of its second residential rental project in the Montréal Metropolitan Area, located at CF Carrefour Laval, the leading shopping centre in Québec. This marks CF's third major residential rental undertaking, following announcements of the Rideau Registry in Ottawa and 750 Peel in downtown Montréal.
The first phase of residential development at CF Carrefour Laval will feature 365 units across two towers, featuring 20 and 11 floors, respectively, sharing a six-storey podium housing the development's common areas, including a swimming pool and best-in-class amenities. The project accommodates public realm improvements, future retail spaces on its ground floor, two levels of underground parking, and seamless transit access for residents via connectivity to the shopping centre.
In addition to bolstering CF's investment in greater Montréal's residential market, which includes its development of the three completed Tours des Canadiens towers in downtown Montréal, the project at CF Carrefour Laval represents the company's continued commitment to housing development as part of its broader strategy to create vibrant communities across Canada.
Sal Iacono, President & CEO of Cadillac Fairview, noted the significance of the project: "This announcement is not just about building much-needed homes in Montréal, but it's also about creating a dynamic, connected community. With our strong legacy in residential development dating back to 1953, CF is proud to be at the forefront of addressing Canada's housing needs while transforming our retail properties into vibrant mixed-use communities."
CF's foray into the residential rental sector is in line with the company's diversification strategy within its existing land bank to address Canada's critical housing shortage.
"We've been dedicated to placemaking since the company's inception and the exciting evolution of this property is a strong reflection of our ongoing commitment to the city of Laval." added Brian Salpeter, Executive Vice President, Development, Cadillac Fairview. "This past March we proudly celebrated the centre's 50th anniversary, and since building and officially opening the property in 1974, the centre has evolved from 125 stores to become a cornerstone in the Laval community."
Today, the centre is home to 266 stores and is recognized as Québec's most productive retail destination according to the International Council of Shopping Centres' annual rankings in Canada.
Construction at CF Carrefour Laval is set to commence this month, with initial occupancy expected in summer 2027. The project will form the first phase of CF's master-planned community at CF Carrefour Laval, redefining the shopping centre as a hub for living, working, and leisure.
About Cadillac Fairview
Cadillac Fairview (CF) is one of the largest owners, operators, investors and developers of best-in-class office, retail, multi-family residential, industrial and mixed-use properties in North America.
Wholly owned by the Ontario Teachers' Pension Plan, with assets under management of $30 billion, CF manages over 36 million square feet of leasable space at 64 landmark properties across Canada, including CF Toronto Eaton Centre, 160 Front, Toronto-Dominion Centre, CF Carrefour Laval, CF Chinook Centre and CF Pacific Centre.
Driven by its purpose of Transforming Communities for a Vibrant Tomorrow, CF is continually striving to make a positive impact in communities where it operates. Visit cadillacfairview.com for more information.
SOURCE Cadillac Fairview
Media Contacts: Anna Ng, Cadillac Fairview, [email protected]
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