Start of work on the Square Children's project

Devimco Immobilier will continue to work closely with the City and with citizens in the area

MONTREAL, June 14, 2017 /CNW Telbec/ - Devimco Immobilier and its partners welcome the adoption by Montreal City Council of a bylaw authorizing construction and occupation of their Square Children's project on the site of the former Montreal Children's Hospital, and announce the imminent start of work.

Serge Goulet, President of Devimco Immobilier, said he was pleased to have taken part in the dialogue with citizens in the Peter-McGill district and in the consultation process conducted by the Office de consultation publique de Montréal (OCPM). "We intend to continue working closely with the municipal authorities and with representatives of the area's citizens to make our project a striking example of mixed-use real estate, and to enhance it by heeding recommendations from the OCPM accepted by the City of Montreal," he stated.

Devimco will begin preparatory work for its project on June 19 by removing asbestos from the former hospital buildings. Apart from the former nurses' residence, a building of great heritage value that will be preserved and integrated within the new project, demolition of the other buildings on the site, some architectural elements of which will be conserved with a view to highlighting them later on, will begin on August 29 and will end on April 10, 2018. Excavation work is expected to begin on November 1, 2017, and the project should be fully completed in July 2022.

A project with solid roots in its community  

With this project, Devimco Immobilier and its partners, the Fonds immobilier de solidarité FTQ and Fiera Private Lending, have made a commitment to create a place that blends perfectly into the neighbourhood while adding value for its citizens. The Square Children's will offer a varied residential mix, including condominiums, rental apartments and social housing (to be managed by the Office municipal d'habitation de Montréal) spread across six towers with an innovative design produced by the firm Menkès Shooner Dagenais LeTourneux Architectes.

In addition, to serve current and future area residents better, ground-floor spaces are planned for neighbourhood shops in this diversified project.

Spectacular common areas will round out the offering to residents, starting with a Sky Lounge located on the top floor of one of the towers that will offer a breathtaking panorama of the city and the mountain. Occupants will also benefit from one of the biggest fitness centres ever built in a Montreal apartment tower, offering technologically cutting-edge equipment.

Focused on rich and lively community life

Construction of the Square Children's will not only provide for revitalization of the former Montreal Children's Hospital site but will also breathe new life into the entire neighbourhood by creating access to new services and facilities tailored for nearby citizens.

Henri-Dunant Park will be considerably expanded. The new park will have more than twice the combined area of the current Henri-Dunant and Hector-Toe-Blake parks. Everyone will be able to gather there to relax and to enjoy the nature and beauty of the large surrounding gardens while exercising on playgrounds designed for sports activities. Overall, development of green spaces and a public park will account for more than 40% of the project's total area.

The neighbourhood's community life will also be greatly enhanced with construction of the brand-new Peter-McGill Community Centre, which will include a library and a performance venue.

To perpetuate the memory of the hospital for future generations, the oldest of the former hospital's wings, the first nurses' residence with its great heritage value, will be restored and integrated within the project. Art Deco architectural features will also be conserved and incorporated into the new building.

About Devimco Immobilier

Devimco Immobilier is a real estate development leader in Quebec that stands out for the development and construction of real estate projects, including lifestyle and TOD (transit-oriented development) complexes that combine commercial, business, leisure and residential components. The company's real estate projects are defined by the creation of unique environments that take the community's needs into account.

Since 2005, Devimco Immobilier has been developing District Griffin™, a lifestyle project in Griffintown that clearly reflects the social fabric of an entire community. It is also building SOLAR UNIQUARTIER, the largest TOD project in Quebec. Located in the northwest quadrant formed by highways 30 and 10. This $1-billion development will become the South Shore's new city centre. www.devimco.com/en

For more information on the Square Children's project, visit www.squarechildrens.ca 

About the Fonds immobilier de solidarité FTQ

The Fonds immobilier de solidarité FTQ promotes economic growth and employment in Quebec by strategically investing in profitable and socially responsible real estate projects in partnership with other industry leaders. The Fonds backs residential, office, commercial, institutional and industrial projects of all sizes across Quebec. As at December 31, 2016, it had 48 projects in progress with a combined worth of $2.9 billion, which will create some 24,000 jobs, 41 properties under management, 17 million ft² of land for development and $59 million allocated to affordable, social and community housing. www.fondsftq.com/en.aspx

About Fiera Private Lending

Fiera Private Lending, a subsidiary of Fiera Capital Corporation, acting as a fund manager, is a Canadian leader in private financing and private investment. It offers expertise in temporary construction financing, business financing and real estate development investment, in addition to providing Fiera Capital's clients with access to alternative investment strategies. www.fieracapital.com/en

SOURCE Devimco Immobilier

Frédérick Truchon-Gagnon, 514-843-2349, [email protected]