Montréal, September 16, 2014 – A partnership agreement has been inked by LSR GesDev and Sotramont, two long-standing developers, builders and property owners, Groupe Maltais Saint-Lambert, an active real estate investor, and Fonds immobilier de solidarité FTQ for a new multi-residential development in Saint-Lambert.
A 26,715 sq. ft. lot is the site selected for the construction of an 8-story condominium building. Located at 295 Riverside, between Argyle and Lorne Avenues, the building will house a maximum of 54 units, all with an unbeatable view of downtown Montréal and the Saint Lawrence River. This mature neighbourhood is just a few steps away from Saint-Lambert’s main commercial artery, rue Victoria, and less than 1 kilometre from the train station.
“We’ve taken a personalized approach with this project. We are meeting with prospective buyers before drawing up the plans to find out what they would like to see in terms of unit size, architecture, price and amenities. Our architects will then take this wish list and translate it into a well-designed project. Boomers will like the strategic location and the kind of lifestyle you find in Saint-Lambert “ said Annie Lemieux, president of LSR GesDev.
For Fonds immobilier de solidarité FTQ, this project brings the total number of projects underway to over thirty. According to its president and CEO, Normand Bélanger, “In such a competitive market, it’s essential to deliver what buyers want. We hope to break ground next spring with this project, valued at some $25 million.”
“Not only is Saint-Lambert a mature city that offers a great quality of life, it has the added benefit of being just 5 minutes from the bridges to Montréal. Given the scarcity of land available for development in this neighbourhood, we’re sure this project will be a success. Our partners all agree that the building’s architecture should be both current and classic and that the construction should be top quality and respectful of the environment, an important aspect for Saint-Lambert residents,” concluded Sotramont president Marc-André Roy.
About LSR GesDev
LSR GesDev is carving a reputation as an expert in managing and developing a variety of residential projects. The company works with partners and professionals to create aesthetically pleasing living spaces. Intent on striking that perfect balance between the characteristics of a building site and the housing needs of its clients, LSR GesDev delivers a value-added living environment. LSR GesDev was spawned by Groupe LSR, a world-class real estate developer, manager and owner that has been involved in multiple large-scale residential projects since its inception in 1969. www.lsr.ca
About Sotramont
Founded over 45 years ago, Sotramont, the real estate developer behind the Bois-Franc project in Ville Saint-Laurent and Quartier Greenwich in Pointe-Claire, is the leading builder of prestigious single-family homes, townhouses and condominiums in Quebec. Over the years Sotramont has carved a reputation of reliability, offering exceptional sites and a wide variety of high-quality products. With over 2,000 housing units to its credit, Sotramont is a forward-thinking contractor specializing in integrated residential projects erected in independent neighbourhoods centred on sustainable living and respectful of the environment. In 2014, the USGBC (US Green Building Council) recognized a Sotramont project as the world’s top-performing LEED® condo project. For more information visit www.sotramont.com
About Groupe Maltais Saint-Lambert
With over 20 years’ experience, Michel Maltais, president de Groupe Maltais St-Lambert, has positioned himself as a reputable builder in the residential market and has earned numerous honourable mentions in the industry.
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 for journalists:
Josée Lagacé
Director, Communications and Marketing
Fonds immobilier de solidarité FTQ
Telephone: 514 847-5710
Mobile: 514 707-5180
E-mail: jlagace@fondsimmobilierftq.com