Laval, October 23, 2014 – Cosoltec and the Fonds immobilier de solidarité FTQ today kicked off Industria 440, a major project consisting of industrial and commercial condos to be built in an industrial area strategically located next to highway 13 on highway 440 in Laval. The project is expected to generate economic spinoffs of $200 million.
Industria 440 will be built on a 1.5 million-sq.-ft. lot and house about 10 buildings that each will offer up to 150,000 sq. ft. of industrial space. The construction of the new buildings will be spread over four phases, with occupancy slated to begin in summer 2015. A well-established Laval company, Cosoltec will handle the project’s promotion and development.
With Marc Demers, the Mayor of Laval in attendance, Cosoltec president Michel Grennan was pleased to announce the project’s kick-off. “With the arrival of Lumen, a major electrical materials distributor that purchased some of the land and in June began building its head office, the project is starting to take shape and is attracting companies from different industries, including aeronautics, food, environmental and high tech. We want to create industrial clusters that will allow companies from a given industry to be near each other in order to capitalize on business opportunities. The site’s strategic location is definitely a plus since it allows easy access to the North and South shores and is less than 15 minutes away from the Montréal-Trudeau Airport.”
The Fonds immobilier de solidarité FTQ holds a 50% interest in the land and in the project. “Businesses today want to provide their employees with a modern and environmentally responsible workplace. That’s why we opted for a LEED project. The buildings will be equipped with, among other things, electromechanical systems designed to meet the strictest energy efficiency standards. This project will generate both economic spinoffs and jobs,” added Normand Bélanger, President and CEO of the Fonds immobilier de solidarité FTQ.
"The Laval economy has been booming for 15 years. During this period, we’ve had 11 years where investments topped the billion dollar mark. The INDUSTRIA business park is consistent with the City’s desire to offer space in order to keep attracting new businesses and allow existing ones to grow, thereby increasing the number of jobs available in Laval and maintain the City’s economic vitality,” said Laval Mayor Marc Demers.
About LAVAL TECHNOPOLE (www.lavaltechnopole.com)
LAVAL TECHNOPOLE is mandated by the City of Laval to promote and ensure the economic development of the City by attracting investments, hosting companies and supporting businesses on its territory.
About Cosoltec
Founded in 1997, Cosoltec is a key player in Québec’s construction industry. Regardless of the project – multi-residential, commercial, industrial, rental, boutique, sports centre or store layout, Cosoltec always places its clients first, offering them solutions that meet their needs and expectations. The company only partners with established industry leaders and reliable, specialized companies. Cosoltec has numerous projects underway and boasts such clients as Société immobilière du Québec, Université de Montréal, Molson Coors Canada, National Defence (Canada) Métro and IGA.
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, 2014, the Fonds immobilier had 30 projects in progress, 30 properties under management, 18 million square feet of land and $53 million invested in affordable, social and community housing. Visit www.fondsimmobilierftq.com.
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Information:
Josée Lagacé
Director, Communications and Marketing
Fonds immobilier de solidarité FTQ
Telephone: 514 847-5710
Mobile: 514 707-5180
Email: jlagace@fondsimmobilierftq.com