Le Meridiem: A New Residential Rental Project in Longueuil - A Partnership Between Alternative Capital Group and Fonds immobilier de solidarité FTQ

LONGUEUIL, QC, Dec. 14, 2015 /CNW Telbec/ - The Fonds immobilier de solidarité FTQ and Alternative Capital Group are teaming up on Le Meridiem, a new residential rental project in Longueuil. Construction of the building began in September and will be ready for its first tenants in June 2016.

Located on Chemin de Chambly, just 200 metres from the Longueuil-Saint-Hubert commuter train station, in a neighbourhood that revolves around Transit-Oriented Development (TOD), the four-storey Le Meridiem will offer 26 studios, 47 one-bedroom and 48 two-bedroom apartments ranging from 430 to 940 sq. ft., for a total of 121 units.

The building will have 2 elevators and 133 indoor parking spaces. Food stores, a shopping centre and a public market are all nearby, as are the main South Shore roads.

"Le Meridiem is a multi-residential development in a prime location, near the train station, and it can therefore capitalize on the traffic and future expansion of public transit in this part of Longueuil. Another boon is the recently announced redevelopment of the shopping centre facing our project," said Nicolas Beauchamp, cofounder of Alternative Capital Group.  

"We are proud to team up with Alternative Capital Group on this project, valued at about $19 million, and that will create almost 160 jobs," said in turn Normand Bélanger, President and Chief Executive Officer of Fonds immobilier de solidarité FTQ.

The developer will take advantage of the building's U shape to build an enclosed courtyard with a heated outdoor pool. With its contemporary architecture, the outside of the building will have recessed balconies in black brick, enhancing the façade's visual interest.  The living room in each unit will boast large windows. Inovim will oversee the construction of the building, designed by Forme Studio Architectes.

About Alternative Capital Group
Alternative Capital Group is an integrated business bank dedicated to small and medium-sized enterprises. Co-founded by Claude Delage and Nicolas Beauchamp, the Group offers the following services: corporate finance, including M&A advisory services, advisory services for issuers and investors in the exempt market and interim financing solutions through its division Interim Capital.
www.alternativecapitalgroup.ca

About Fonds immobilier de solidarité FTQ
Created in 1991, 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 May 31, 2015, the Fonds immobilier had 38 projects in progress, 38 properties under management, 18 million square feet of land and $53 million invested in affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council.

Le Meridiem
www.lemeridiem.ca
www.facebook.com/LeMeridiem
www.twitter.com/LeMeridiem

Rental Office (opening in February 2016)
3641 Chemin de Chambly
Telephone: [phone]
Email: [email protected]

SOURCE Fonds immobilier de solidarité FTQ

Image with caption: "Le Meridiem in Longueuil, a Fonds immobilier de solidarité FTQ and Alternative Capital Group project (CNW Group/Fonds immobilier de solidarité FTQ)". Image available at: http://photos.newswire.ca/images/download/20151214_C8880_PHOTO_EN_563845.jpg

Image with caption: "Le Meridiem in Longueuil, a Fonds immobilier de solidarité FTQ and Alternative Capital Group project (CNW Group/Fonds immobilier de solidarité FTQ)". Image available at: http://photos.newswire.ca/images/download/20151214_C8880_PHOTO_EN_563847.jpg

Source (for journalists only): Josée Lagacé, Director, Communications and Marketing, Fonds immobilier de solidarité FTQ, Telephone: [phone]; Mobile: [phone], E-mail: [email protected]