Saint-Constant, November 6, 2019 – The consortium Groupe Alliancia has partnered with the Fonds immobilier de solidarité FTQ on Le Johannesbourg, a new residential rental development in Saint-Constant geared to the 50+ market. The partners gathered for the ground-breaking ceremony today along with the mayor of the city of Saint-Constant, Jean-Claude Boyer, the project’s developers and investors Sylvain Grenon and Alexander Franco, respectively president and vice-president of Immobilier ElDorado, and Pierre Benoît, investment director of the Fonds immobilier de solidarité FTQ investment.
Located in the heart of Saint-Constant, the $15-million project will be built in two phases and will be made up of two buildings, linked by common space consisting of a community room, exercise room and terrace. The first building (33 units) will be ready for occupancy in July 2020, while the second (44 units) is slated for completion in July 2021. Both buildings will be equipped with surveillance cameras to ensure tenant safety. In addition to inviting green space, including landscaped paths, a terrace and sitting areas, tenants will enjoy a simplified, all-inclusive rent formula. Starting at $1,220, the rent will include electricity, hot water, heating, air conditioning, telephone, Internet, basic cable and an indoor parking space.
Project overview:
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70,562 ft2 lot
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77 1- and 2-bedroom residential rental units
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First building – 33 units over 3 floors
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Second building – 44 units over 4 floors
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Common space over 2 floors consisting of an exercise room and a community room
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110 underground parking spaces
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10 visitor parking spaces plus charging stations
About the location:
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168-172 Montée Saint-Régis in Saint-Constant, at the intersection of Boulevard Monchamp
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Near public transit and two main highways (15, 30 and 132)
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2.5 kilometres from the Sainte-Catherine and Saint-Constant train stations with service to downtown Montréal in less than 30 minutes
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Close to services including a shopping centre, grocery story, pharmacy and convenience store
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A bike path will be built in front of the buildings, leading to the library and to the new municipal park complete with nature and cross-country ski trails, an ice rink and an indoor skating rink.
Quotes
“Le Johannesbourg, named in memory of my sister Johanne Grenon, is geared primarily to a 50+ clientele seeking an active lifestyle and freedom from home maintenance obligations. We have found Saint-Constant’s residents to be very receptive to the concept. Le Johannesbourg offers all the benefits of modern condos and is built to the highest standards: high-end finishings, elevators, access for people with reduced mobility, air conditioning, superior soundproofing with concrete floors, indoor storage, heated indoor parking and much more.”
Sylvain Grenon, President, Immobilier ElDorado, and the project’s promoter and investor.
“We’re happy to consolidate our business relationship with partners who are well established in their community. This promising project also allows us to capitalize on a favourable market window for this asset class in Montérégie in particular. What’s more, Le Johannesbourg will help create almost 200 quality jobs.”
Pierre Benoît, Investment Director, Fonds immobilier de solidarité FTQ
“Le Johannesbourg is strategically located in an area with extensive municipal infrastructure projects. In 2020 we will urbanize Montée Saint-Régis to promote active transportation. To that end, we will add a bike path, sidewalks and a reserved lane. This site is very close to Lac des fées and our outdoor recreation centre. We will also build a large municipal park along Rue Sainte with hiking paths, cross-country ski trails, an arena and outdoor skating rinks.”
Jean-Claude Boyer, Mayor of Ville de Saint-Constant
About Immobilier ElDorado
Immobilier ElDorado is a real estate developer dedicated to offering superior housing and carefree living spaces to the 50+ crowd. The company specializes in the construction of rental housing with a focus on green space.
About the Fonds immobilier de solidarité FTQ
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. It backs residential, office, commercial, institutional and industrial projects of all sizes across Québec. As at May 31, 2019, the Fonds immobilier had 61 projects worth $4.2 billion in progress, 68 properties under management, 1.5 million square feet of land for development and $88 million allocated to affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council.
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