Montreal and Laval, June 28th, 2019 - Selection Group, Montoni and the Fonds immobilier de solidarité FTQ announced today that they have officially acquired the Molson brewery site on Notre-Dame Street in Montréal. With this stage of the process complete, the Quebec consortium can now put forward its redevelopment vision for this rapidly evolving Montréal region.
The lands currently occupied by Molson’s bicentennial brewery, bordering the river, will host a project that fosters the innovative and inclusive redevelopment of these central districts. The consortium’s vision includes the supply of diverse housing alternatives that meet the needs of the neighborhood and future residents. The design will be based on the "live, work and play” theme, and will incorporate business, commercial, tourist and residential needs. Private, social and community-inspired rental units will be set up alongside condominiums and local shops, that will provide services needed to spark neighborhood life. An environmental component focused on making the neighborhood greener, enhancing views and shifting development towards the river, will comprise a significant part of the project.
Acquisition of the Molson Brewery lands by the consortium comes in the wake of a mutual agreement reached on June 5th with the city of Montreal that set conditions for the transfer of a portion of the Molson Breweries land to the city for the construction of a new park.
Quotes
"We want to provide Montrealers with a complete, lively neighborhood that combines quality of life, an employment hub and respect for the environment. When the Molson family set up its brewery on the banks of the river at the end of the 18th century it foreshadowed the city’s industrial development. Today, Selection Group wants to play a leading role in the transformation of this part of downtown Montréal. Right as you enter through Jacques Cartier Bridge, the site offers an emblematic view of the city of Montréal. We are proud to be part of the creation of a dynamic living environment around this iconic property for all Quebecers."
- Réal Bouclin, Founding President and Chief Executive Officer, Selection Group
"The deployment of a brand new neighbourhood in the heart of the metropolis marks a very special milestone in Montreal's history. That is why we consider this opportunity as a responsibility towards Montrealers. Whether it be the residences, businesses or office spaces, all facets of this vast project will represent an opportunity to illustrate our attention to detail and quality, guided by our commitment to sustainable development. Everything surrounding this project marks an exceptional opportunity to demonstrate what has always defined Montoni and its team: acting as builders."
- Dario Montoni, President, MONTONI Group
"We are particularly pleased to bring the Fonds' rich expertise to this project which carries immense symbolic value. The Molson Brewery is a privileged emblem of the City’s industrial and working history. The site will remain an important employment hub and will also be transformed into a lively neighborhood that will be swarming with residents. We would like to highlight the close partnership between the city of Montreal, Molson and the consortium. The next steps in this structuring project will be inspired by the common goal of successfully transforming the area."
- Normand Bélanger, President and Chief Executive Officer, Fonds immobilier de solidarité FTQ
"We are thrilled to conclude this agreement with partners such as Selection Group, Montoni and Fonds immobilier de solidarité FTQ. It goes without saying that Molson Coors is naturally very attached to the Montréal island site and the sales process was rigorously structured to ensure a lasting legacy for Montrealers that Molson could be proud of. We are enthusiastic about the quality of the redevelopment project proposed and are pleased to participate as tenants, by locating our head office on the future site."
- Frederic Landtmeters, President and CEO, Molson Coors