Fonds immobilier de solidarité FTQ invests in Côte-des-Neiges Condominium Project

MONTREAL, March 13, 2012 /CNW Telbec/ - Fonds immobilier de solidarité FTQ ("Fonds immobilier") has announced a partnership with Développement Place de la Savane for a 117-unit condominium and townhouse project dubbed LUZ and located at 4970 Place de la Savane in Côte-des-Neiges, Montréal. Construction will be overseen by Constructions Devlor, which is expected to break ground in the fall and begin delivering units in February 2014.

"This residential project is located in a rapidly changing area of the Côte-des-Neiges district that has been targeted by the City of Montréal for revitalization. In fact, the City's plan calls for housing projects built according to sustainable development principles and that give priority to public transit, recycling and extensive green space," said Fonds immobilier president and CEO Normand Bélanger. "Our project fits in perfectly with this direction since it will follow LEED standards, which is consistent with our mission and vision of real estate development. Moreover, the price-to-quality ratio is most competitive, facilitating access to home ownership in a booming neighbourhood," concluded Mr. Bélanger.

Located in the vicinity of Namur/Jean Talon - an area currently undergoing a massive urban renewal - the roughly 35,000-sq.-ft. site is in the middle of the triangle bordered by Jean-Talon, de la Savane and Mountain Sights streets and within walking distance of the de la Savane and Namur métro stations. Aside from the roughly 100 indoor parking spaces, the building will have a gym on three floors and a rooftop terrace with a spa. The units will range in size from 661 ft² to 1,670 ft².

About the Fonds immobilier de solidarité FTQ
Created in 1991 by the Fonds 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. Over the last 20 years, the Fonds immobilier has invested upwards of $1 billion in 300 such projects, creating and preserving some 26,300 in Québec. For more information, visit www.fondsimmobilierftq.com

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Josée Lagacé Communications and Marketing Director
Fonds immobilier de solidarité FTQ
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