Strategic Forum on major real estate projects: the city forges ahead

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Added on 30 March 2012 in Press releases

 

Press Release

Strategic Forum on major real estate projects:
the city forges ahead

Montréal, March 30, 2012 – The Board of Trade of Metropolitan Montreal today held the sixth edition of its Strategic Forum on major projects. Over 500 decision-makers came together to discuss the major real estate projects contributing to the effervescence observed in Montréal over the last few years.

“While last year signalled an end of stasis in Montréal, today we can declare that Montréal is forging ahead and that the development of real estate projects is enjoying exceptional growth. There are currently 21 more cranes on the Montréal territory compared to the same date last year, and an additional 20 should be seen shortly. It is a situation on a scale not seen in the last 40 years,” stated Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal.

“We are currently seeing a major reconfiguration of entire neighbourhoods around big structuring projects. Beyond these skyscrapers and real estate projects, it is the environment of Montrealers that is being transformed. This translates into massive investments of over $6.5 billion from the private sector. In fact, private developers are following in the footsteps of institutional projects—like the mega-hospitals and the Outremont Campus—to redraw Montréal’s map. Take the Triangle Namur, for example, where some 4,000 new residential units are being built in the Côte-des-Neiges sector, with investments of over $500 million, or the new Viger Station project, which promises an investment of $450 million in a complex that will combine commercial and residential space in the heart of the Quartier de la santé,” continued Mr. Leblanc.

“A year ago, we expressed our hope that the Olympic Park would be in a position to present a new vision that would reposition this emblem of the city at the core of citizens’ concerns. David Heurtel, the President and CEO of the Olympic Park, came to present a recovery plan that is notably centred on a $95 million investment to maintain infrastructures, including $14 million for the complete renovation of the sports facilities. Finally, in light of today’s presentations, we can see that there is both great diversity in the types of projects that are developing and an assortment of functions at the heart of these developments,” concluded Michel Leblanc.

About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity and competitiveness. The Board of Trade is Quebec's leading private economic development organization.

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 Source:
Sylvie Paquette
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Phone: 514 871-4000, extension 4015
sylvie.paquette@ccmm.qc.ca

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