The Fonds immobilier de solidarité FTQ invests in all sectors of the real estate industry: residential, office, commercial and industrial buildings. In the residential sector, it aims to satisfy the needs of a wide-ranging customer base by giving preference to projects suited to first-time homebuyers as well as buyers of secondary residences, while at the same time meeting the needs of low- and middle-income families. The Fonds immobilier team is made up of 32 specialists—market analysts, architects, urban planners, appraisers, legal experts, accountants and financial experts— whose diverse expertise provides a real benefit to its partners.
Since its inception in 1991, the Fonds immobilier has generated positive returns year after year, and its last financial year was no different. As at May 31, 2013, the Fonds immobilier was participating in developing and building 29 projects with a total value of approximately $1.3 billion; once completed, they will generate close to 10,000 jobs, based on the Institut de la statistique du Québec’s labour calculator. As at the same date, it owned 38 buildings under management and 19 million square feet of land to develop future projects.
Tour des Canadiens
The Fonds immobilier de solidarité FTQ’s last financial year saw the unprecedented success of the Tour des Canadiens project: 99% of the 552 condominiums were sold in just a few months. In response to this phenomenal result, the promoters decided to increase the number of floors of this already emblematic building next to the Bell Centre to 50, making it one of the tallest buildings in downtown Montréal.
The Fonds immobilier manages assets of $33.5 million that are dedicated to affordable-housing, social and community-focused projects. In the last financial year, $3.6 million was invested to renovate the 178 apartments of the Terrasse Mousseau complex in Longueuil. Bâtir son quartier, a social economy enterprise, is managing the project and is working with its social and municipal partners to improve the quality of life of the tenants.