Fonds immobilier de solidarité FTQ and Bilodeau Immobilier team up on student housing project
AM/FM project will offer two buildings near Cité-Universitaire de Québec by end of June 2018
QUÉBEC CITY, March 27, 2018 /CNW Telbec/ - The Fonds immobilier de solidarité FTQ is teaming up with Bilodeau Immobilier on AM/FM, a student housing project consisting of two buildings: the first involves the acquisition of an existing building that was completely rebuilt in 2013 (the "FM"), comprising 28 units and 6,926 ft2 of commercial space on the ground floor, while the second will be a new construction comprising 74 units (the "AM") on an adjacent lot.
The project's name refers to the location of the CHRC 80 radio station, which closed its doors in September 2012 after 86 years in operation and to others that took its place. The building was purchased in 2011, reduced to its shell, rebuilt and named "FM".
Quotes
"Located near Cité-Universitaire, the AM/FM project is in a strategic location, right in the heart of a core area of Québec City. It will also have excellent visibility since it is at the intersection of two major arteries, including Myrand Avenue. There is definitely demand for new, quality housing in Québec City, for both local and foreign students, making the AM/FM an excellent option, especially since it offers indoor parking and a fitness room, rare amenities in Québec City."
- Éric Bilodeau, Bilodeau Immobilier
"We are proud of this new partnership with a property owner and manager that has built itself a name in Québec City. Bilodeau Immobilier has deep expertise in student housing, which has become one of its specialties. Together, we will expand the choices available to this clientele, which is growing in Québec City, and create 120 jobs in the process."
- Normand Bélanger, President and CEO, Fonds immobilier de solidarité FTQ.
The AM/FM project in brief:
- 34,585 ft2 lot
- 102 units spread over 2 buildings (AM/FM)
- 3 ½, 4 ½, 5 ½ and 6½ loft-style units
- Parking spaces: 77 indoor and 27 outdoor
Phase 1 – Existing building - FM
- Built in 1962, renovated in 2013
- Five above-ground floors containing 28 rental units and 6,926 ft2 of commercial space occupied by a Second Cup and three other businesses (a hair salon, a grocery store and the Jet Society clothing store)
Phase 2 – AM building in construction and scheduled for delivery at the end of June 2018
- Concrete building consisting of six above-ground floors containing 74 rental units
- All units have a balcony, large windows, washer-dryer connections, wall-mounted air conditioning and an air exchanger
The location:
- Lot located at 2136 Sainte-Foy Road in Québec City, in the borough of Sainte-Foy-Sillery-Cap-Rouge
- Cité-Universitaire area, at the north-east intersection of Sainte-Foy Road and Myrand Avenue (student area)
- A 10- to 20-minute walk from four educational institutions – Cégep Garneau, Université Laval, Collège St-Lawrence and Cégep Sainte-Foy – serving a combined population of 64,000 students
- Near public transit, including 17 bus routes
- Easy access to Robert-Bourassa highway and Laurier Boulevard
About Bilodeau Immobilier
A property owner and manager for three generations, Bilodeau Immobilier is a well-established family business in Québec City. Since its inception in 1922, Bilodeau Immobilier has owned and managed more than 2,000 units, including the most emblematic, Le Montmorency on Grande-Allée, one of the few buildings still offering concierge service in Québec City. The company is owned by brothers Marc, Jean-Pierre and Éric Bilodeau, who will participate in the Fréquence M (AM / FM) project through the property holding and management company Bilco Capital Inc., of which they are the sole shareholders. www.bilodeauimmobilier.com
About the Fonds immobilier de solidarité FTQ
The Fonds immobilier de solidarité FTQ promotes economic growth and employment in Québec 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. At December 31, 2017, the Fonds immobilier had 47 projects in progress, 53 properties under management, 14 million square feet of land for development and $69 million allocated to affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council.
SOURCE Fonds de solidarité FTQ
Josée Lagacé, Director, Communications and Marketing, Fonds immobilier de solidarité FTQ, Tel.: 514 847-5710 / Mobile: 514 707-5180, [email protected]
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