Friday, April 26, 2024 
Friday, April 26, 2024
October 14, 2021
Devimco Immobilier and its partners, the Fonds immobilier de solidarité FTQ and Fiera Real Estate, today launched the first phase of the major Auguste & Louis condominiums project on the site of the former Maison de Radio-Canada.
Last year, Devimco Immobilier signed an agreement with Groupe Mach to build more than 2,000 condo units in 10 towers in what is now known as the Quartier des lumières. This is an $800-million investment. Phase 1, valued at $80 million, comprises 265 condominium units on nine and 14 floors, including studios and one- to three-bedroom units. The first units are scheduled for delivery in the summer of 2023.
The Provencher_Roy architectural firm was chosen to design this first phase. The Fonds immobilier de solidarité FTQ and Fiera Immobilier are Devimco Immobilier’s financial partners.
Phase 1 of this major project is named Auguste & Louis, a nod to the “Lumière brothers,” two French engineers who played a key role in the history of cinema and photography.
“Devimco Immobilier has extensive expertise in the construction of residential units of all categories, having built a total of 6,300 residential units, representing an investment of $2.6 billion, over the past eight years,” said Serge Goulet, President of Devimco Group. “We are pleased to launch Auguste & Louis, our first project in the Faubourgs area, a history-filled neighbourhood that is highly symbolic for Montréal.”
For his part, Normand Bélanger, President and CEO of the Fonds immobilier de solidarité FTQ, said: “The Fonds immobilier de solidarité FTQ is proud to pursue its business relationship with Devimco Immobilier and Fiera Immobilier in such transformative and job-creating projects, estimated at 600 for this first phase. The project will include units and outdoor amenities for families, which will foster the creation of a vibrant downtown community.”
“We are pleased to carry out this major project located in the Faubourgs, a historic sector of Montreal that is destined to become a renewed residential district. In this way, we are helping to revitalize one of the entrances to downtown Montreal,” said Pierre Pelletier, Fund Manager and Senior Vice President, Opportunity and Development, at Fiera Real Estate.
Auguste & Louis
The project’s architectural concept, which will stand out with its contrasts and plays of light, is rooted in the theme of the Quartier des lumières, paying tribute to the Lumière brothers. The metal cladding on the upper floors and inside the courtyard will capture light and project it to the lower floors, which will form a contrast with their masonry cladding. The double-height lobby will also allude to the art of cinema by immersing residents in an atmosphere reminiscent of “black box” film projection.
On the roof, adjacent to an “urban chalet,” there will be green spaces designed to promote a friendly and lively community spirit. The project will be crowned by an outdoor rooftop pool offering residents a breathtaking panoramic view stretching from the Jacques-Cartier Bridge to the downtown core.
Auguste & Louis highlights
About the Fonds immobilier de solidarité FTQ
The Fonds immobilier de solidarité FTQ drives 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 mixed-use, residential, office, commercial, institutional and industrial projects of all sizes across Québec. At May 31, 2021, the Fonds immobilier had 54 projects worth $3.6 billion in progress that will create some 30,000 jobs, along with 98 properties under management, 1.8 million square feet of land for development and $156 million allocated to affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council — Québec division.
About Fiera Real Estate
Fiera Real Estate is a global real estate investment management platform serving investors in Canada and the United Kingdom. We globally manage over $6.7 billion of commercial real estate through its investment funds and accounts as at 30st June 2021. The highly diverse nature of our portfolio – in terms of both geographies and types of properties – combined with a range of best-in-class strategies provides investors with exceptional opportunities to diversify their exposure within the real estate asset class. Fiera Real Estate is wholly owned by Fiera Capital Corporation, a leading multi-product investment-management. Fiera Capital Corporation provides Fiera Real Estate with access to global investment market intelligence, which enhances its ability to innovate within a framework that emphasizes risk assessment and mitigation.
About Quartier des lumières
Groupe MACH, the developer of the Quartier des lumières, is one of the largest private real estate owners and developers in Canada. At the gateway to downtown, the Quartier des lumières is a mixed-use development of approximately 4 million square feet of buildable space. Its residential component will consist of nearly 3,000 residential units including rental apartments, condominiums, social and affordable housing. The creation of 1.5 million sq. ft. of office space will make it possible to accommodate several thousand workers on the site, and close to 250,000 sq. ft. of large-scale commercial space and convenience stores will complete the sector’s current offer. This mix of uses, combined with its accessibility by public and active transportation, makes it the perfect example of the “quarter-hour city” concept. Its large park and numerous plazas will increase the amount of green space by 200%, which will reduce heat islands by 80%. The site will also house a community space and a school.
About Devimco Immobilier
Devimco Immobilier is a Québec real estate development leader that stands out for the creation and execution of large real estate projects, in particular lifestyle and TOD (transit-oriented development) complexes that blend commercial, business, leisure, and housing components. Combining innovation and creativity, Devimco Immobilier participates in enhancing the environments it creates and the communities where they are located, for the benefit of its occupants and visitors. Devimco and Concordia University recently partnered to found the university’s Next-Generation Cities Institute.
Since 2005, Devimco Immobilier has been developing District Griffin® a vibrant area where a genuine community is taking root. Another of its projects is SOLAR UniquartierTM, Québec’s largest TOD project. Devimco Immobilier is also building Square Children’s®, a new flagship project at the western extremity of Montréal’s downtown core that is revitalizing the former site of the Montréal Children’s Hospital and the entire neighbourhood. Maestria Condominiums®, the largest mixed-use residential project ever built in Montréal, located in the heart of the Quartier des Spectacles, was also launched in late 2019. It was followed by the Wellington sur le Bassin® condos and penthouses project at the corner of Wellington and De la Montagne streets.
Finally, Devimco Immobilier is now completing the first phase (Sir Charles Condominiums) of a major TOD project in the City of Longueuil’s downtown and Longueuil–Université-de-Sherbrooke métro station area.
