Home / Montreal / $700 million real estate development in Montréal’s Quartier des spectacles

$700 million real estate development in Montréal’s Quartier des spectacles

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Real estate development in Montréal’s Quartier des spectacles – Comprising two towers, 51 and 53 storeys high, this flagship project will have access points on Jeanne-Mance, De Bleury and Sainte-Catherine streets. Marketing of the approximately 1,000 condo properties and 500 rental units will begin in February 2019, and construction is due to start by the end of 2019.  

“We are proud to be building a distinctive, avant-garde property that will help enhance the urban fabric of this booming arts and culture district,” said Devimco Immobilier President Serge Goulet. “With this landmark project, we intend to maintain the Devimco tradition of creating a living environment with mixed uses that will serve project residents as well as visitors to this highly popular part of Montréal,” he added.

Normand Bélanger, President and CEO of the Fonds immobilier de solidarité FTQ development capital fund, is pleased that this ambitious project, which promises to attract tens of thousands of Quebecers and tourists alike, is coming together on one of the most strategic sites of Montréal’s entertainment district: “We displayed vision in acquiring the former Spectrum land and other adjacent lots, and the outcome today is that we are part of another structure-enhancing project for Montréal that will help drive the local economy,” Mr. Bélanger said. “As a reminder of the glory days of the Spectrum, we plan to incorporate some commemorative items, including a collection from the legendary concert venue’s archives.”

Pierre Pelletier, Senior Vice‐President, Opportunity and Development Funds, Fiera Properties, remarked: “We are enthusiastic about our partnership in this major project, which promises to be a true masterpiece: an emblematic building complex in the Quartier des spectacles.”

Designed in collaboration with the architectural firm Lemay, MAESTRIA will be a prestigious project inspired by the arts and culture vibe of the Quartier des spectacles. Daniel Arbour, Senior Partner, Lemay, describes it as “a nod in the direction of the Quartier des spectacles, a project with a powerful identity and a unique signature, with the two tall towers seemingly in motion, like a pair of tango dancers.” He added: “The design includes, at the 25th-storey level of the towers, the highest walkway between two buildings ever to be built in Montréal, where residents will enjoy a prime view onto every major event held in the Place des Festivals below.”

The plans also call for a mini-plaza for adjacent retailers, which could be used to host cultural events.

Devimco Immobilier, the Fonds immobilier de solidarité FTQ and Fiera Properties are proud to announce a partnership to develop the largest mixed-use real estate project yet in Montréal’s Quartier des spectacles. MAESTRIA, with a projected cost of $700 million, will be the highest-profile developments of this type in Montréal.

A contribution to the cultural life of Montréal

With this project, Devimco Immobilier, the Fonds immobilier de solidarité FTQ and Fiera Properties also seek to contribute, in their own way, to the cultural life of Montréal. “Discussions are under way with the Partenariat du Quartier des spectacles on how we can best meet the needs of the district,” Mr. Goulet explained. “For instance, rental spaces could be outfitted as recording studios or arts and culture presentation venues.”

A collaboration with artist Bernard Séguin Poirier celebrating children’s welfare

A majestic work measuring 12 feet by 40 feet titled Changer le monde, created in 2010 by 1,500 young people at the Centre jeunesse de Montréal along with artist Bernard Séguin Poirier, has been acquired especially for the project. “It will occupy a prominent location in the finished project,” Mr. Bélanger noted.

In addition, the partners in this real-estate project will acknowledge their social role by making donations totalling $100,000 to promote children’s welfare. In collaboration with Mr. Séguin Poirier, $75,000 will be donated to the Fondation du Centre jeunesse de Montréal – Institut universitaire du CIUSSS du Centre-Sud-de-l’Île-de-Montréal to allow 1,000 young people to take art classes with the artist over the next three years. In the same vein, $25,000 will go to the organization Le Phare Enfants et Familles / The Lighthouse Children and Families, so that 250 children receiving palliative and pediatric care at its residential facility can also receive art education from Mr. Séguin Poirier.

Montréal’s Quartier des spectacles real estate project towers – Photo:Devimco Immobilier

Highlights of the MAESTRIA project

  • 1,500 residential units, including approximately 1,000 prestigious condominiums and 500 rental units
  • Units ranging from 300 to 2,500 square feet
  • 512 interior parking spaces
  • Green spaces developed to promote urban biodiversity
  • A semi-Olympic indoor pool with swimming lanes
  • An outdoor pool with spa
  • A full Scandinavian thermal pool and spa circuit
  • A superior-quality 4,800-square-foot fitness room
  • Two Skylounges with terrasses, 25 stories up, providing access to the SkyBox, a first for downtown Montréal: a bona fide private loge with terrasse overlooking the entire Esplanade des Festivals / Place des Arts complex and connecting the two towers
  • A virtual-golf room
  • A games room for children
  • A library and business centre
  • A movie theatre, multipurpose room and games room
  • Music rehearsal studios and creative studios
  • A 51,000-square-foot lower extension (basilaire) with retail spaces
  • Neighbourhood restaurants, cafés and shops

Prospective buyers are invited to visit www.maestriacondos.com.

Feature image: Montréal’s Quartier des spectacles real estate project – photo:Devimco Immobilier

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