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Alcan buyout called "economic suicide" for Canada Lynn Moore, CanWest News Service Published: Saturday, July 14, 2007 MONTREAL -- The proposed acquisition of Alcan Inc. by the London- and Melbourne, Australia-based Rio Tinto Group is a symptom of "economic suicide" underway in this country, Montreal billionaire and shareholder activist Stephen Jarislowsky said Friday. Others use less dramatic language as they engage in the hollowing-out-of-corporate-Canada debate but admit to growing concern over deals such as Rio Tinto's friendly $38.1-billion US bid for Alcan. The Montreal-based aluminum producer is the 10th company on the TSX 60 to be taken over, or poised to be taken over, by a foreign company in the past three years, Jarislowsky noted. Foreign takeovers are fuelling the Canadian dollar, which is "going through the roof" and contributing to the woes of Canada's exporting and manufacturing companies, he said. "I think the Canadian government is wrong to let any of the 60 biggest companies get taken over by foreigners," said the founder and chairman of Jarislowsky Fraser Ltd., which manages $60 billion in assets. The Conservative government's appointment of a panel to asses Canada's competition policy and foreign investment is akin to closing the barn door after the best horses have run away, Jarislowsky said. "Only the stupid horses are left," along with banks and companies that, for regulatory reasons, can't leave, he said. Ken Wong, an associate professor at Queen's University's business school, said there are few takers for unprofitable, poorly-run businesses, so it's not surprising the best companies are being bought. But while businesses are looking out for their own interests, someone should be considering the national good, particularly when resources or resource-dependent companies are concerned, he said. "I would be looking for certain signs that tell me that the merger or acquisition will be good for the country, not just the company" or shareholders, Wong said. Ottawa should ensure the long-term stewardship of resources is factored into the equation so that lost resources can be tabulated in much the same way lost jobs have been, he said. The Rio Tinto offer, unveiled Thursday, would see Rio Tinto Alcan with a head office in Montreal but its chief executive officer would report to Rio Tinto's CEO. Rio Tinto currently has its key aluminum and aluminum-related assets and offices in Australia. Rio Tinto Alcan would be "the new hub" of Rio's aluminum business, although investment in Australia "would not be diminished," Rio Tinto CEO Tom Albanese said at Thursday's press conference in Montreal. There would be some ebb and flow of employees between Montreal and Brisbane, Australia, but the employment levels in Montreal would remain as high, if not higher, he added. Descriptions like that make Concordia University finance professor Lawrence Kryzanowski uneasy because they remind him of what was said as Montreal head offices moved west when the separatist movement was gaining strength in Quebec. "It is clear when a company moves a head office; less clear is when a company moves key functions out," he said. "Smart companies will do that over time." The Royal Bank of Canada, for example, contends that it maintains a head office in Montreal but its corporate headquarters is in Toronto. "You can say you still have the head office here in Montreal but (what matters) is where the head office work is carried out. I would expect of lot of that to happen" with Rio Tinto Alcan, Kryzanowski said. Alcan "probably arranged the best deal for shareholders ... and Montreal," given the circumstances, Kryzanowski, an Alcan shareholder, said. The Rio Tinto Alcan office in Montreal "will be a divisional office at best," Jarislowsky said. One thing that helped tie Alcan to Canada were agreements between it and the governments of B.C. and Quebec that were linked to long-term, low-cost energy supplies for the aluminum producer, Kryzanowski said. "If it wasn't for the agreements they had in both Quebec and B.C., I think the head office would probably move," he said. The Quebec deal, signed last December just before Alcan announced a $1.8-billion US investment in the Saguaenay, requires that Alcan maintain in Quebec "substantive operational, financial and strategic activities and headquarters ... at levels which are substantially similar to those of Alcan" at the signing of the agreement. Now it's up to Quebec and other interested parties to "be vigilant" and ensure that the deal is honoured, Kryzanowski said. Quebec will have to decide how best to measure Rio Tinto Alcan's presence in Quebec, based on what it most values, be it payroll numbers, new products development or research-and-development money spent, Wong said. Montreal Gazette lmoore@thegazette.canwest.com
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westmount LIZ (5100, de Maisonneuve O) - 10 étages
un sujet a posté bucketsofrain dans En Construction
This is for the land currently owned by Provigo on the corner of de Maisonneuve and Claremont on the south east corner. There was a public consultation for residents and the following is the project: 30k square feet for grocery store (Provigo Urban concept) 10 apartments for families of kids who are staying at hospital Office space for Children's foundation 255 senior apartments for 55+ from le Groupe Maurice Not a very nice looking building! 10 story building Construction summer/fall 2015 Opening 2017-2018 -
6775 Décarie - Édifice à bureaux de 6 étages
un sujet a posté mtlurb dans Projets oubliés et/ou en suspens
Olymbec projette de démolir le petit édifice commercial au 6775 Décarie (coin Vézina, juste au sud du projet de l'usine Armstrong) pour le redévelopper, probablement en édifice à bureaux de 6 étages. http://www.lobby.gouv.qc.ca/servicespublic/consultation/AfficherInscription.aspx?NumeroInscription=FNzZnYCG0atmYLnL%2b93Rdw%3d%3d#D56150 Le site en question: -
Wanted to build a second downtown and wanted to have the metro line to go further west for this section. Proposed by Robert Campeau. Would have been known as New City Center 1.5 million sqft shopping center - total 2.2 million sqft retail space 75 floor office tower - total 5 million sqft office space 2 hotels (1750 rooms) 8000 unit condo tower
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je sais pas c'est qui ce monde la, mais cette petite 'home video' de ce qui semble etre des touristes d'outre-mer pourrait presque faire office de video promotionel pour tourisme montreal ...! bref, c'est bien. http://www.youtube.com/watch?v=8_UiOrQlaWo&feature=related
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Viger Project Montreal, Quebec, Canada Step 1: 2008 Step 2: 2010 Viger will be a 19-story, 828,000 square foot mixed-use project consisting of a 225,000 square foot hotel, 185,000 square foot of retail space, 385,000 square foot of residential space with parking for 1,400. The hotel portion includes the redevelopment of a 150,000 square foot historic chateau-style hotel. SUMMARY Address 710 Rue Saint-antoine E Montreal, Quebec, Canada Location Located in Montreal, Quebec Canada Hines' Role Development Manager Net Rentable Area Hotel: 225,000 sq. ft. (20,902 sq. meters) Residential: 385,000 sq. ft. (35,766 sq. meters) Retail space: 185,000 sq. ft. (17,186 sq. meters) The renaissance of Viger Square Phil O'Brien Senior advisor Telemedia DevelopmentI Inc. Mr. Philip O'Brien will be conducting a presentation about the Viger site on the eastern edge of Old Montreal. He will discuss the history of the site: the building of a grand hotel and railway station in what was then the central core of Montreal, its prominence as a prestigious address for business elites, and its cultural significance for the city of Montreal. The context of its decline during the 20th century will be outlined: from the changing economic conditions in the 1930s and its demise to its current state in the urban environment, resulting from the expansion of the railway yards, the digging of the open trench of the Ville-Marie expressway, and the demolition of a vast number of houses to make room for the CBC project. He will then highlight the exciting potential for redevelopment in light of changing local economic conditions and redevelopment opportunities for this area of town. Thursday, April 12, 2007 from 7:30 to 9 a.m. Ritz-Carlton Montreal 1228 Sherbrooke Street W. chateau_viger.pdf
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STANFORD PROPERTIES GROUP New multi-tenant office building - 52,764 square feet Pie IX Blvd, between Majeau and Larin, This project is replacing the old Mike's Restaurant on Pie IX. Sorry no Pics!!
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ville-marie Terrain Saint-Denis/Saint-Antoine (ancien Esso)
un sujet a posté Feanaro dans Projets oubliés et/ou en suspens
À quelques mètres de là, ils ont commencé à creuser sur le terrain de l'ancienne station-service. Quand je suis passé ce matin, ils enlevaient une immense citerne qui devait faire office de réservoir! Le terrain sera-t-il bientôt pour la vente? On est en droit de le penser! -
La succursale va fermer. C'est incroyable. On dirait presque un canular. Perte immense pour le patrimoine de Montréal... *** Royal Bank abandons historic 360 St. Jacques building June 23, 2010. 1:57 pm • Section: Metropolitan News The Royal Bank of Canada is closing its historic branch in Old Montreal, in what was once the tallest building in the British Empire and the bank’s head office. The image above, from Google Earth, shows the building (in the middle, foreground) and the skyscrapers that followed it. The bank has more on the history of the Montreal landmark here and here. And check out this city of Montreal history. This story appeared in the Granby Leader-Times on March 4, 1927: http://blogs.montrealgazette.com/2010/06/23/royal-bank-abandons-historic-360-st-jacques-building/
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http://www.jll.com/Research/Global-Office-Index-Q2-2016.pdf Sent from my iPhone using Tapatalk
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Revitalizing Calgary's core: Some possibilities for rebirth
un sujet a posté Maisonneuve dans L'actualité
Revitalizing Calgary's core: Some possibilities for rebirth 'Calgary has reinvented itself before ... from a ranching/agriculture-based economy to oil and gas' By Richard White, CBC News Posted: Jun 17, 2016 While it is shocking that Calgary's downtown skyscraper vacancy rate skyrocketed to 20 per cent at the end of March, and that it could soon surpass the vacancy record of 22 per cent set in 1983 (twice what it was a year ago), we should keep some perspective. These numbers are not unheard of in major corporate headquarter cities. Back in the 1970s, New York City was in decline. By the mid-70s, the city came close to bankruptcy and its office vacancy rate hit 20 per cent. In 1993, Toronto's downtown office vacancy rate hit 20.4 per cent. Vancouver's rose to 17.4 per cent in 2004. And these may not even be records, as data only goes back to 1990 for those cities. Today, New York City, Toronto and Vancouver's downtowns are booming. All downtowns go through periods of growth, decline and rebirth. Montreal's decline and rebirth In the '60s, the case could still be made Montreal was Canada's business capital. Its downtown was a major office headquarters for Quebec's natural resource industry as well as a thriving financial industry, including the head offices of the Bank of Montreal, Royal Bank of Canada and insurance giant Sun Life. In 1962, when the Place Ville Marie office designed by iconic architects I.M. Pei and Henry N. Cobb opened, it symbolized Montreal's arrival as a world-class city. This was further reinforced with the hosting of Expo '67, the arrival of Montreal Expos baseball team in 1969, and the 1976 Olympics. However, the '70s brought the threat of separation, which prompted many corporate headquarters and their executives to move to Toronto. By 1971, Toronto's population surpassed Montreal's. The 1976 Montreal Olympics, the most expensive in history, plunged the city into a legacy of debt and decline for decades. Today, Montreal has reinvented itself as an international tourist destination and a major player in the gaming and music industries. New York's return from the brink In 1975, New York City was on the brink of bankruptcy. The gradual economic and social decay set in during the '60s. The city's subway system was regarded as unsafe due to crime and frequent mechanical breakdowns. Central Park was the site of numerous muggings and rapes; homeless persons and drug dealers occupied boarded-up and abandoned buildings. Times Square became an ugly, seedy place dominated by crime, drugs and prostitution. Today, New York City is back as one of the world's most successful cities, economically and culturally, and Times Square is again one of the world's most popular urban tourist attractions. Calgary's future Perhaps Calgary has already begun to reinvent itself. Despite the growing vacancy rate downtown, the CBRE's First Quarter 2016 Report says, "Not all commercial real estate in the city has been affected, though. Suburban office space held steady from the last quarter, and the industrial real estate market is still robust because it's not tied to oil and gas." Indeed, Calgary has become one of North America's largest inland port cities, including two state-of-the art intermodal rail operations. Calgary is now the distribution headquarters for Western Canada, a position once held by Winnipeg. And so Calgary's industrial sectors employ more people than the energy sector. Calgary Economic Development is working with the real estate community to implement a "Head Office/Downtown Office Plan" with three action items. One idea is the repurposing of smaller older office spaces as incubators and innovation hubs to attract millennials and/or entrepreneurs. A good example of this is in West Hillhurst, where Arlene Dickenson has converted an old office building at the corner of Memorial Drive and Kensington Road that was once home to an engineering firm into District Ventures, home to several startup packaged goods companies. Another repurposing idea would be to convert some older office buildings into residential uses. In the U.S., programs like Vacant Places Into Vibrant Spaces have been successful but mostly for office to residential conversions of older buildings with smaller floor plates. They don't work for offices buildings with floor plates over 7,500 square feet (which is the case for most of Calgary's empty high-rise office space), as it is expensive and difficult to meet residential building codes, which are very different from commercial ones, making it tough to compete with new residential construction. In an ideal world, Calgary could become a global talent hub, where skilled workers who have been displaced from the energy and related industries continue to live in Calgary but become a remote workforce for energy projects around the world. Temporary and permanent satellite offices could be established in Calgary with teams of engineers, geologists, accountants, bankers etc. working on projects around the world. The obvious strategy would be to woo international companies in the finance, insurance, transportation, agriculture, digital media and renewable resources to set up a Canadian or North American office in Calgary, maybe even relocate here. With cities like San Francisco, Seattle and Boston facing major affordable housing crises for millennial workers, Calgary could become a very attractive place for a satellite office for companies in those cities. One "off the wall" idea postulated by George Brookman, CEO of West Canadian Industries, would be to promote Calgary as an "International Centre for Energy Dispute Resolution," similar to the Netherland's TAMARA (Transportation And Maritime Arbitration Rotterdam-Amsterdam), which offers an extrajudicial platform for conducting professional arbitration for settling disputes. However, one wonders: Could Calgary compete with London and New York, which are already leaders in the international arbitration business? Incentivize rebirth Calgary has reinvented itself before, evolving from a ranching/agriculture-based economy to oil and gas in the middle of the 20th century. Indeed, the downtown core, which is an office ghetto today, would benefit immensely if incentives could be made to convert a dozen or so office buildings into condos, apartments or hotels to foster a rebirth of the core as a place to live. Calgary at a Crossroads is CBC Calgary's special focus on life in our city during the downturn. A look at Calgary's culture, identity and what it means to be Calgarian. Read more stories from the series at Calgary at a Crossroads. http://www.cbc.ca/news/canada/calgary/calgary-core-kickstart-richard-white-1.3638276 -
Interesting video about the new London skyscrapers http://www.archdaily.com/770542/london-is-becoming-a-bad-version-of-dubai "London is on the verge of being ruined for all future generations," says Alain de Botton – a Swiss philosopher, notable author and founder of The School of Life and Living Architecture. "With a whopping 260 towers in the pipeline no area is safe, as planners, property developers and the mayor's office commit crimes against beauty to create fun buildings." In a film for The Guardian De Botton explains why he believes we're right to be nervous – and how we can stop this "clear desecration" of the UK's capital city. sent via Tapatalk -
Montréal de 1940 à aujourd’hui à travers les films de l’ONF
un sujet a posté IluvMTL dans Photographie urbaine
http://blogue.onf.ca/blogue/2015/05/21/montreal-dhier-aujourdhui-films-onf/ Montréal de 1940 à aujourd’hui à travers les films de l’ONF Films Documentaire | 21 mai 2015 par Emilie Nguyen Des années 1940 à aujourd’hui, la ville de Montréal a fait l’objet de nombreux films de l’ONF. En fouillant dans la collection, force est de constater que la cité aux cent clochers a été la muse de plusieurs cinéastes, tels que Jacques Giraldeau, Jacques Leduc, Hubert Aquin, Luc Bourdon et Michel Brault. Chacun à leur manière, ils nous ont donné à voir la ville dans un style cinématographique propre à leur démarche et à leur époque. Objectif-Expo-67-tv-big Image tirée du film Objectif 67 En raison de mon obsession pour l’ordre et la chronologie, j’ai rassemblé quelques-uns de ces titres de manière à pouvoir suivre l’évolution de la ville à travers les décennies. Une occasion de replonger dans le Montréal des années 1940 et d’entreprendre une balade au parc Lafontaine sur une musique bucolique; d’être aux premières loges pour admirer les chars allégoriques du défilé de la Saint-Jean-Baptiste en 1959; de prendre le mini-rail pour revivre en couleur les heures merveilleuses de l’Expo 67; de revisiter le quartier Griffintown et les commerces du boulevard Saint-Laurent dans les années 1970; de contempler Montréal sous toutes ses coutures dans les années 1990, et de terminer le voyage par une flânerie interactive sur le Mont-Royal en compagnie de l’écrivain Dany Laferrière. Bon voyage temporel! 1940 La cité de Notre-Dame (1942) Avec ce documentaire passionnant, redécouvrez la ville de Montréal en 1942…et en couleur! Entrez dans le quotidien fourmillant de la métropole avant les gratte-ciel et les autoroutes. Déambulez parmi ses églises, ses vieux marchés, ses galeries d’art, ses universités, son aéroport, ses gares de triage et son port, guidé par une charmante narration. La Cité de Notre-Dame par Vincent Paquette, Office national du film du Canada Au parc Lafontaine (1947) Dans ce court métrage, voyez comment les Montréalais profitaient des beautés du Parc Lafontaine dans les années 1940. À l’époque où les ours noirs, les renards, les chats sauvages et les oiseaux de proie cohabitaient gaiement; où les enfants s’amusaient sous l’oeil attendri des parents, des amoureux, des promeneurs. On y rencontre des gens de tous les âges, tous les types, tous les genres, car chaque jour le tout Montréal se donne rendez-vous au parc Lafontaine… Au parc Lafontaine par Pierre Petel, Office national du film du Canada 1950 Au bout de ma rue (1958) Filmé par Michel Brault, ce charmant petit film raconte l’histoire d’un gamin vivant dans le centre-sud de Montréal qui profite d’un jour de congé pour prendre la poudre d’escampette. Suivez-le alors qu’il découvre le bord de l’eau, l’horizon élargi du grand fleuve Saint-Laurent et l’activité bouillonnante du port de Montréal, tel qu’il était en 1958. Au bout de ma rue par Louis-Georges Carrier, Office national du film du Canada Jour de juin (1959) Revivez les festivités de la Saint-Jean-Baptiste à Montréal en 1959. Soyez aux premières loges d’une foule de 700 000 à 800 000 personnes pour voir passer les chars allégoriques, les fanfares d’un événement annuel qui rappelle à tout un peuple ses racines profondes. Jour de juin par ONFB, Office national du film du Canada 1960 À Saint-Henri le cinq septembre (1962) Réalisé par Hubert Aquin en 1962, ce grand classique impérissable du cinéma québécois nous fait visiter en 24 heures le quartier populaire de Saint-Henri à travers les images tournées par un collectif des plus grands cinéastes de l’époque. Le film a été inspiré par le roman Bonheur d’occasion de Gabrielle Roy. À Saint-Henri le cinq septembre par Hubert Aquin, Office national du film du Canada Objectif 67 (1967) Évoquant les heures merveilleuses de l’Expo 67, ce film en couleur nous replonge au coeur de cet événement marquant dans la vie des montréalais. Dans sa course, la caméra prend le minirail, visite les îles, la Ronde, la Cité du Havre, envahit les pavillons, les restaurants, suit les clowns et capte la joie de la foule. Objectif : Expo 67 par William Brind, Office national du film du Canada 1970 Griffintown (1972) Le quartier Griffintown n’a pas toujours été le berceau de condominiums argentés et des jeunes gens branchés. Ce court métrage documentaire nous montre le quartier tel qu’il était dans les années 1970, ignoré et dévasté. Une population réduite mais opiniâtre s’acharne à y vivre et à lutter contre la tyrannie de l’industrie qui cherche à les exproprier. Griffintown par Michel Régnier, Office national du film du Canada Une rue de lait et de miel (1973) Tourné dans les années 1970, ce court métrage documentaire rend hommage au boulevard Saint-Laurent, artère principale de Montréal. Une rue qui demeure, pour nombre d’immigrants, l’endroit où s’est amorcée leur vie nouvelle. Dans cet excellent film, le cinéaste revisite la rue et les commerçants qui l’ont accueilli à l’âge de huit ans, lorsqu’il arriva au Canada avec ses parents. Une rue de lait et de miel par Albert Kish, Office national du film du Canada 1980 Albédo (1982) Mélangeant fiction et documentaire, ce long métrage établit un parallèle entre la vie du photographe David Marvin et l’histoire de Griffintown, un quartier de Montréal auquel il a consacré une partie de son œuvre. Albédo par Jacques Leducet par Renée Roy, Office national du film du Canada 1990 Les amoureux de Montréal (1992) Le cinéaste Jacques Giraldeau nous présente Montréal sous toutes ses coutures et dans tous ses replis… Montréal baignée dans toutes ses lumières, été comme hiver, revisitée par un cinéaste amoureux de ses rues, de ses ruelles, de ses quartiers, de ses parcs, de son fleuve, de ses églises, de ses édifices… Visages d’hier et d’aujourd’hui. Une ville disparate, de verre et de béton, façonnée par des architectes qui lui ont donné un corps et… une âme! Les amoureux de Montréal par Jacques Giraldeau, Office national du film du Canada 2000 La mémoire des anges (2008) À la fois documentaire, poème et essai, La mémoire des anges est une expérience unique permettant de revisiter la ville de Montréal des années 1950 et 1960, avec ses grandes figures, ses lieux emblématiques et ses citoyens ordinaires. Pour ce faire, le cinéaste Luc Bourdon a procédé à un assemblage d’archives et d’extraits tirés de 120 films produits par l’ONF. Un tour de force magistral! La mémoire des anges par Luc Bourdon, Office national du film du Canada 2010 Sacrée montagne (2010) Revisitez un des lieux les plus emblématiques de Montréal avec ce documentaire Web qui explore notre relation au sacré à travers le Mont-Royal. Dans cette courte vidéo tirée du projet, l’écrivain Dany Laferrière livre une réflexion sur la place du sacré dans l’histoire et l’imaginaire québécois, revivant pour l’occasion ses premiers pas dans ce Montréal que sa mère, depuis Port-au-Prince, appelait « la ville de Dieu ». Sacrée montagne – La métaphore de Montréal par Hélène de Billyet par Gilbert Duclos, Office national du film du Canada À Saint-Henri, le 26 août (2011) Tourné en 24 heures, À St-Henri, le 26 août rassemble quelques-uns des plus brillants cinéastes documentaires québécois d’aujourd’hui autour de cet ancien quartier ouvrier de Montréal. Dans un style cinéma direct, à l’affût des histoires qui font l’épaisseur d’une journée dans la vie quotidienne du quartier, ce film parcourt des trajectoires qui se côtoient ou se traversent tout en restant opaques les unes aux autres. Réalisé en 2010, ce film est un hommage à l’oeuvre collective d’Hubert Aquin, À Saint-Henri le cinq septembre. Il témoigne de la transformations d’un espace urbain resté profondément enraciné dans son passé industriel vibrant. La musique a été composée par le talentueux Patrick Watson. Le film est maintenant disponible en location. Pour le visionner, cliquez ici. À St-Henri, le 26 août – (Bande-annonce) par Shannon Walsh, Office national du film du Canada D’où je viens (2013) Dans ce superbe documentaire, le cinéaste Claude Demers (Les dames en bleu) revisite le quartier populaire de Verdun où il a grandi pour y interroger le mystère de ses origines. La ville et le fleuve Saint-Laurent constituent la toile de fond de cette ode à la vie et à la beauté du monde. Une œuvre libre et humaine, qui nous montre un visage de Verdun que vous n’avez jamais vu. Pour en savoir plus, lisez notre entretien avec le réalisateur. Le film est maintenant disponible en location. Pour le visionner, cliquez ici. D'où je viens – (Bande-annonce) par Claude Demers, Office national du film du Canada Et vous, quels sont vos films préférés de notre collection sur Montréal? À Saint-Henri le cinq septembre, Au parc Lafontaine, cité, Claude Demers, D'où je viens, Documentaire, film, Griffintown, Histoire, Hubert Aquin, Jacques Giraldeau, Jacques Leduc, La cité de Notre-Dame, La mémoire des anges, Luc Bourdon, Métropole, Michel Brault, mont Royal, Montréal, Saint-Henri, Saint-Jean-Baptiste, Saint-Laurent, Urbanisme, Ville, ville-marie, webdocumentaire sent via Tapatalk -
Bay Street still has Canada’s most expensive office space http://renx.ca/bay-street-still-canadas-expensive-office-space/ Bay Street in Toronto has the most expensive office space in Canada, and no other city comes close to matching the $68.52 per square foot average rent that’s being asked for in the heart of the country’s financial district. JLL Canada recently released its “Most Expensive Streets for Office Space” report, which ranks Canadian cities by their highest asking rents. It shows many companies are still willing to pay a premium for the most expensive spaces, and competition is growing to get into prominent financial, retail and government hubs. “The most significant trend that we are seeing across major markets is that there are a large number of new developments underway,” said JLL Canada president Brett Miller. “Although we have only seen minor changes to the top market rents thus far in 2014, we anticipate that as the new inventory comes to market, overall rents will decrease in the older class-A stock whilst headline rents in new developments may raise the top line rents.” Here are the most expensive streets in nine major Canadian cities 1. Bay Street, Toronto, $68.52 per square foot Bay Street held strong in first place for the fourth year running. It features the headquarters of major Canadian banks and is home to many investment banks, accounting and law firms. Brookfield Place, at 161 Bay St., continues to command the highest office rents of any building in Canada at $76.54 per square foot. The average market rent in Toronto is $34.82 per square foot. (Bay St. looking north from Front St. shown in the image,) 2. 8th Avenue SW, Calgary, $59.06 per square foot 8th Avenue SW again has the highest average gross office rents in Calgary. Large vacancies and availabilities along this corridor typically account for significant activity and command market-leading rates. Large oil and gas companies have historically clustered around the central business district in this area. The top rent on the street is $64.40 per square foot and the average market rent in Calgary is $46 per square foot. 3. Burrard Street, Vancouver, $58.87 per square foot Burrard Street has dropped to third place despite a slight increase in average asking rent from $58.47 in 2013. Approximately 18.3 per cent of downtown class-A office supply is located on Burrard Street between West Georgia Street and Canada Place. The vacancy rate in these six buildings sits at 1.6 per cent, which justifies this location commanding some of the highest rental rates in the city despite the impending influx of new supply that’s putting downward pressure on rents throughout the central business district. The top rent on the street is $66.06 per square foot and the average market rent in Vancouver is $38.81 per square foot. 4. Albert Street, Ottawa, $52.10 per square foot Albert Street remained in fourth position with average rents decreasing slightly from $53.40 per square foot. Albert Street is mainly home to government-related office towers, including numerous foreign embassies, and a few of the largest Canadian business law firms. There seems to be a wait-and-see approach in anticipation of the 2015 federal election regarding the government’s intentions to lease or return more space to the market. The top rent on the street is $53.54 per square foot and the average market rent in Ottawa is $30.90 per square foot. 5. 101st Street NW, Edmonton, $46.71 per square foot The average asking rent dropped from $48.19 per square foot, but 101st Street NW is expected to remain the most expensive in Edmonton with the recent commitment to build the arena district, a large-scale, mixed-use project incorporating the city’s new National Hockey League arena. This is expected to revitalize some of the most important corners on the street. The top rent on the street is $54.15 per square foot and the average market rent in Edmonton is $28.30 per square foot. 6. René-Lévesque W, Montreal, $44.28 per square foot The average gross rent on the street hasn’t changed significantly year over year, but the total value of tenant inducement packages has nearly doubled. The most expensive building on the street (1250 René-Lévesque W) rents for $52.76 per square foot but has seen some downward pressure of two to four dollars on its net rent due to 170,000 square feet of vacant space left behind by Heenan Blaikie. The average market rent in Montreal is $30.38 per square foot. 7. Upper Water Street, Halifax, $36.42 per square foot Upper Water Street has maintained seventh place despite its average asking rent dropping from $36.65 per square foot last year. New construction coming on stream is expected to put downward pressure on rents in existing office buildings. The top rent on the street is $36.62 per square foot and the average market rent in Halifax is $27.44 per square foot. 8. Portage Avenue, Winnipeg, $35.67 per square foot Portage Avenue held strong in eighth place, with its average rent increasing from $35.17 per square foot. The class-A market remains tight and is expected to remain so through 2015. The top rent on the street is $37.32 per square foot and the average market rent in Winnipeg is $23.62 per square foot. 9. Laurier Boulevard, Québec City, $27.50 per square foot Laurier Boulevard held its ninth-place position despite the average rent dropping from $28.14 per square foot. There’s been no notable increase in the average gross rent and the vacancy rate on the street remains low at 5.2 per cent compared to the rest of the market’s 7.8 per cent. The top rent on the street is $28.98 per square foot and the average market rent in Québec City is $21.89 per square foot. JLL manages more than 50 million square feet of facilities across Canada and offers tenant and landlord representation, project and development services, investment sales, advisory and appraisal services, debt capital markets and integrated facilities management services to owners and tenants.
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Made you click Molson Coors relocating headquarters to 1801 California in downtown Denver Molly Armbrister Reporter- Denver Business Journal Molson Coors Brewing Co. will relocate its U.S. headquarters next year to Denver's second-tallest building: 1801 California. The company (NYSE: TAP) has leased 53,872 square feet in the 54-story tower at 1801 California St., which was purchased and upgraded by Brookfield Office Properties Inc. last year. Molson Coors will renovate the office areas, located on the 45th, 46th and part of the 47th floors, beginning in the spring. The company expects to inhabit the new space in fall 2015. Molson Coors' HQ is currently located at 1225 17th St. in Denver. It also has headquarters space in Montreal. "We are pleased to be moving to 1801 California, which will allow us to maintain our headquarters presence in vibrant downtown Denver," said Sam Walker, Molson Coors global chief people and legal officer. "This new location enables us to bring together our offices and employees under one roof and remain in the heart of Denver's thriving business community." 1801 California was formerly occupied entirely by Qwest Communications, but now CenturyLink Inc., which bought out Qwest, occupies about 30 percent of the building's 1.3 million square feet. Brookfield has been working to fill the building since completing its renovations on the property in February. "We're thrilled to have Molson Coors' U.S. headquarters making its home at 1801 California, said David Sternberg, executive vice president for the midwest and mountain regions for Brookfield. "1801 California is an ideal setting for Molson Coors — a landmark location for one of Colorado's iconic companies and one of the world's leading brewers," said Ted Harris, senior vice president at Cassidy Turley, one of the brokers on the transaction.
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Square Dealing: Changes could be afoot at the iconic Westmount Square BY EVA FRIEDE, MONTREAL GAZETTE OCTOBER 10, 2014 2:16 PM Investor Olivier Leclerc outside Westmount Square, who has purchased 84 units in the complex for $70 million. Photograph by: John Mahoney , Montreal Gazette An investor has bought 84 rental units at Westmount Square for $70 million, and says that less than two months after the sale, he has already resold at least 48 of the apartments. Olivier Leclerc, 26, acting with real estate broker and adviser Albert Sayegh, bought the units at the iconic Mies van der Rohe buildings in August from Elad Canada, a division of the Israeli real estate multinational Tshuva Group. The deal means that Elad has sold all of the approximately 220 units in the two residential towers of Westmount Square. Now it is proposing to convert Tower 1, with 200,000 square feet of office space, to condos. But Westmount has slapped a freeze on all conversions from commercial or institutional buildings to residential use and is studying all development in its southeast commercial sector, from Atwater to Greene Avenues. The freeze is in effect until an interim bylaw is adopted and an update on the study is expected in November, said Westmount councillor Theodora Samiotis. Samiotis, who is the commissioner of urban planning for Westmount, said there are two concerns about such a conversion. First is Westmount Square’s heritage value as a Mies van der Rohe mixed commercial-residential project, completed in 1967. “On a heritage value, obviously we would want to make sure that any architectural aspect of the design would respect that,” she said. And there are those who would argue that changing the usage combination would change the architect’s vision, she said. The complex was conceived with three towers — two residential and one office — and an 86,000-square-foot shopping concourse. Equally important to Samiotis is the commercial vibrancy of the area. “So when you tell me you are changing a commercial tower to a residential tower, I am concerned about the impact this is going to have on my commercial district,” she said. Residential tax rates are lower than commercial rates, so the city also could lose revenue. “It’s not just the conversion of any building. It’s a landmark,” she said. They are very much aware of the proposal to convert the office tower, Sayegh said, but the file is currently closed. “If Tower 1 does occur, we will look at it,” he said. Elad Canada owns, operates or is developing such properties as New York’s Plaza Hotel, Emerald City in Toronto and in Montreal, the Cité Nature development near the Olympic Village and Le Nordelac in Point St-Charles. The 84 Westmount Square units were the remaining rental units in two of the towers. In a meeting at Sayegh’s real estate office — he is president of the commercial division of RE/MAX Du Cartier on Bernard St. W. — Leclerc said he bought the apartments in August as an investment, and resold them to various groups of investors, two of which bought about 12 apartments each. Leclerc would not specify how many of the apartments he intends to keep. It is a significant sale, probably the biggest of the year, said Patrice Ménard of Patrice Ménard Multi-Logement, which specializes in sales of multi-unit residential buildings. But it is not a record. By comparison, the La Cité complex of three buildings with more than 1,300 units sold for $172 million two years ago. Also in 2012, Elad sold the Olympic Village to Capreit Real Estate Investment Trust for about $176 million, Ménard said. Both La Cité and the Olympic Village remain rental properties, however. Both Sayegh and Leclerc emphasized that confidence in the economy was a basis for the Westmount Square purchase. The reselling was not a flip, but a long-term strategy, Sayegh said. “He has his own chess game,” Sayegh said. “The context was favourable to take hold of such a prestigious building — the political context,” Leclerc said. “The socio-economic climate in Quebec has never been as conducive to investments as it is today,” Sayegh added. Leclerc would not say what profit he has taken so far, nor what return he is expecting. “It’s a nice acquisition to my portfolio,” Leclerc said. He also owns or has converted buildings in Mont St-Hilaire and Brossard as well as Hampstead Court on Queen Mary, bought in 2011 and now all sold. Four years ago, Leclerc joined his father, Ghislain, in the business of converting rental buildings to co-operatives. Over 25 years, he and his father have converted more than 2,500 apartments, he said. His father is now semi-retired. With his father, he also worked on the conversion of the Gleneagles apartments on Côte des Neiges Rd., bought in 2010 and sold by 2013. “We do major work. We put the building in top shape,” Leclerc said. “Then we make esthetic improvements. After that, we sell the apartments. “We never throw out the tenants. We profit from the fact that the tenants are in place, who pay rent ‘x’ for an apartment in the state it is in. “We respect the rental laws.” Leclerc said he buys only good buildings in good locations. “The area reflects the tenants. Location, location, location.” At Westmount Square, the tenants are not affected, Leclerc said, as the same company, Cogir, manages the building. The range of price for the 84 apartments was $400,000 to $2 million. efriede@montrealgazette.com Twitter: @evitastyle
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http://www.montrealgazette.com/business/Obituary+David+Azrieli+touched+many+parts+society/10014707/story.html By Paul Delean, THE GAZETTE European-born David Azrieli, who fled the Nazis as a teenager, fought in the 1948 Arab-Israeli war and then found fortune in Canada, died Wednesday at age 92. According to Forbes magazine, the Montreal-based real-estate developer and businessman was one of the richest Canadians with an estimated worth of $3.1 billion. He also was one of the most generous, contributing more than $100 million to philanthropic causes around the world, many of them in the fields of medical research, education and the arts. “It’s a great loss,” said Susan Laxer, president of local Jewish organization Federation CJA. “He literally changed the landscape in Israel with his office towers and architecture, and with his philanthropy, he touched many parts of our society and community. Through his legacy, he’ll continue to touch the lives of many people.” Norma Joseph, professor of religion and associate-director of the Azrieli Institute of Israel Studies at Concordia University, described him as “a formidable person, very strong-minded. And he used his mind for a wonderful vision of community and building.” The institute got its start in 2011 with funding provided by the family foundation, “but he did more than give money. He also gave his personal time and effort,” Joseph said. Born into a Jewish family in Poland, Azrieli escaped ahead of the Nazi occupation and kept moving, winding up in British Mandate Palestine in 1942. He studied architecture at Technion-Israel Institute of Technology and fought in Israel’s war of independence before settling in Canada in 1954. In a rare 1973 interview with the Montreal Star, he said he arrived here with no family connections and “literally, penniless.” “Nobody gave me anything,” he said. After earning a Bachelor of Arts degree from the Université de Montréal and working at a number of jobs, he had enough saved for his first solo project in 1957, construction of four duplexes on vacant lots he purchased in Ville D’Anjou. It was the start of a real-estate juggernaut that would eventually include thousands of apartment units, office buildings and shopping centres in Canada, the U.S. and Israel. Among his local holdings is the downtown Dominion Square Building housing The Gazette, acquired for $78.25 million in 2005, and the Sofitel Hotel. The Azrieli Group also held interests in companies active in the fields of energy, water and finance. He remained its chairman until last week when daughter Danna succeeded him, a move prompted by his medical condition. A sometimes controversial figure, Azrieli made headlines in the 1970s when he razed the former Van Horne Mansion on Sherbrooke St. and erected a 17-storey office tower on the site. In 1984, he sued The Gazette for libel over an editorial about a local development, but lost. “From the times of the pyramids to those of the skyscrapers, the works of architects and builders have been monuments to their glory or to their shame,” Superior Court Judge Paul Reeves said. “They build before the public eye and the public rightfully says whether it likes or dislikes what it sees.” In his later years, Azrieli split his residency between Israel and Westmount. “I have two homelands,” he once said, “two places that I love and where I have been blessed to do what I love best.” Active in and supportive of Jewish causes throughout his lifetime, he served as president of the Canadian Zionist Federation and in 2008 authored a book called Rekindling the Torch: The Story of Canadian Zionism, which told the story of the contribution of Canadian Jews and non-Jews to establishment of the state of Israel and their continuing support for the country. He also made Holocaust remembrance a personal crusade after it took from him two siblings and both parents. “This is my vision, to be able to use the tangible rewards of my career in building and construction to create a legacy for education and educational institutions in both of my homelands,” he said. A recipient of the Order of Canada, Azrieli also was a “chevalier” of the Ordre National du Québec. Married for 57 years to Stephanie Lefcort, he had four children: Rafael, Sharon, Naomi and Danna. He died surrounded by family at his country home in Ivry-sur-le-Lac, Que. pdelean@montrealgazette.com -
Hi guys...Anybody have access to this MERX Private Construction site. I am limited to government bids. How about Habsfan or Mark AC or Lindberg etc etc I hi-lited 4 projects that I don't think we know about on our MTLURB. These are official bids so these are approved and will be proceeding as soon as the bids are accepted. I hope we find a couple of big surprises!!!!!!!!!! Gain access to hundreds of Construction projects with MERX Private Construction MERX Private Construction provides a value-added service tailored to contractors looking for project information needed to bid on contracts in the Canadian construction industry. Reporting on projects from the 'pre-design' stage through to the start of construction, businesses of any size have affordable access to billions of dollars in construction opportunities. From the construction of houses and hotels to office buildings and shopping malls, MERX Private Construction has all the information you need to bid on contracts. Please review the listings below of the latest opportunities posted in your region All of Quebec Townhouses & Condominium- La Cite Verte – Québec Condominium - Place des Jardins (Phase 1-5) Québec Condominium - Bella Vista - Phase 2 (101 Units) St-Laurent Office Building - Complexe Jules Dallard - Phase 2 – Québec Data Centre – Québec Rose Mining Project - Nemaska Condominium Marquise (Phase 2-8) Laval Kipawa Rare Earth Project - Open pit mine – Rouyn-Noranda Westin Resort & Spa Tremblant (Renovations) Mont Tremblant Condominium - Le Signature (Phase 2) Québec Head Office (Conversion) Montreal Niobec Mine Expansion - Saguenay Condominium - Les Haltes du Roi (Phase 3-9) Trois-Rivieres Condominium - Cite de la Gare (Phase 2-5) St-Constant Condominium - SE7T (Phase 1-3) Montreal Condominium - U31 (Phase 1-3) Montreal Senior Residence – Ste Therese de Gaspe Condominium - Les Meandres – Camomille – Quebec Apartments/Condominiums 4+ Stories (72 Units) Rouyn-Noranda Condominium - Ilot Esso – Québec Condominium - Coop Evrelle – Beauport Theatre du Rideau Vert - Phase 2 – Montreal Theatre/Cultural Centre – Longueuil Office Tower - Hotel/Motel - Montreal Commercial Development - Carrefour de la Bravoure – Val-Belair Condominium (Phase 1-4) Terrebonne Condominium - Le URB – Montreal Lithium Spodumene Mine Project – La Corne Condominium - Station 7 (Phase 1-7) St-Jerome Condominium Woodfield Sillery (87 Units) Quebec Condominium- Acces M (79 Units) Quebec Dolbeau Oxygen Manufacturing Facility (Expansion) Dolbeau-Mistassini Quartier Sud - Seniors Residence – Levis Caisse Populaire - Municipal Building – St Liguori Cinema Mega-Plex Guzzo - Sainte-Therese Condominium Apartment Townhouse (160 Units) Aylmer Lac-Leamy Hilton Hotel (Reno) Gatineau 75 Rene-Levesque Ouest (Condominium Building) Quebec 18-Storey Condo Towers – Montreal Apartment - Place Lamoureux (Phase 2-3) Rimouski Condominium (Phase 1-6) Val-David Townhouse Development (Phase 1-6) Beaconfield Condo des rue Equinoxes (Phase 1-4) St Laurent Condominium Phase Three (18 Units) Hudson Condominium Opus - Phase 5 – Lasalle Condominium (Phase 2-4) Vaudreuil Condominium (30 Buildings, 180 Total Units) Mont Tremblant Theatre Le Cube - Montreal Shopping Centre - Place Lorraine - Lorraine The Grove at Montreal Student Apartments (Conv/Renov) Montreal Pricing All of Quebec 109.99/month or 960.00/Pre-Paid Yearly (savings of 359.88) Montreal and District 69.99/month or 660.00/Pre-Paid Yearly (savings of 179.88) Quebec City and District 54.99/month or 480.00/Pre-Paid Yearly (savings of 179.88) Our Flexible subscription options allows you to use our service on a monthly basis with no contract obligations or you can pre-pay our service for the year and save 25% Plan ahead with MERX Private Construction · Search Canadian construction projects by Region or by Project Type Quickly identify projects suited to your business or skill set with our exclusive access to McGraw-Hill Dodge Reports
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Wall Street Journal : Canadian Investor Bets on a Montreal Revival
un sujet a posté ScarletCoral dans L'actualité
Canadian Investor Bets on a Montreal Revival Cadillac Fairview Wants to Expand City's Business Center to the South By DAVID GEORGE-COSH Nov. 5, 2013 6:11 p.m. ET For more than two decades, Montreal was one of the sleepiest office markets in Canada, seeing no new private development as cities such as Toronto and energy-rich Calgary added millions of square feet of new space. Now, as Canadian investors step up real-estate investment throughout the world, a company owned by one of Canada's largest pension funds is looking to shake things up. Cadillac Fairview Corp., a unit of Ontario Teachers' Pension Plan, wants to expand the city's business center to the south with a planned 1.9 billion Canadian dollars ($1.82 billion) development next to the Bell Centre, where the National Hockey League's Montreal Canadiens play. The company earlier this year broke ground on the first building on the 9.2 acre site, named the Deloitte Tower after the professional-services firm that it lured from Montreal's traditional downtown. Owners of office buildings in Montreal's core dismiss the competitive threat, citing the lack of retail and transportation in the Deloitte Tower area. "I don't think that people who went to that location will be happy," says Bill Tresham, president of global investments at Ivanhoé Cambridge Inc., which owns the Place Ville Marie office complex that Deloitte is vacating. But Cadillac Fairview executives say businesses will be attracted to the tower's modern workspaces, energy efficiency and the civic square and skating rink in the complex modeled on New York's Rockefeller Center. "That's where we feel the growth is," says Sal Iacono, Cadillac's senior vice president for development in Eastern Canada. Developers in other cities have had mixed results when they have tried to build new business districts to compete with traditional downtowns. London's Canary Wharf development was forced to seek bankruptcy protection in its early years, although it eventually turned into a success. The Fan Pier project in Boston finally has gained traction after years of delay. The Cadillac Fairview development is partly a sign that Montreal has absorbed a glut of space that has hung over its office market for years. Its third-quarter vacancy rate for top-quality space downtown was 5.4%, compared with 9.4% in the third quarter of 2010, according to Cushman & Wakefield Inc. But the project also is a sign of the increasing appetite that Canadian investors have for real-estate risk as the world slowly recovers from the downturn. Canadian investors are on track to purchase at least US$15.6 billion of commercial real estate world-wide in 2013, up from US$14.5 billion in 2012, and a postcrash record, according to Real Capital Analytics Much of the interest is coming from Canadian pension funds, which have more of an appetite for risk than U.S. and European institutions because Canadian property wasn't hurt as badly by the downturn, experts say. The Canada Pension Plan Investment Board, the country's largest pension fund, allocated 11.1% of its assets to real estate, for a total of C$20.9 billion, in the first quarter of fiscal 2014. That is up from 10.7% in the first quarter of fiscal 2013, for a total of C$17.7 billion. Ontario Teachers' Pension Plan has been aggressive in several other sectors as it tries to shore up its funding deficit amid stubbornly low interest rates. The fund last month acquired Busy Bees Nursery Group, the largest child-care provider in the United Kingdom, for an undisclosed sum, while contributing US$500 million to Hudson's Bay Co.'s purchase of Saks Fifth Avenue for US$2.9 billion in July. Over the past year, Teachers' also has made investments in Australian telecom companies, oil assets in Saskatchewan and a supplier of outdoor sports-storage systems. Cadillac Fairview's real-estate portfolio increased to C$16.9 billion at the end of 2012, the last period for which data is available, up from C$15 billion in 2011. Montreal has a population of 1.65 million and its business sector, which relies heavily on aerospace, information technology, pharmaceuticals and tourism, remained relatively healthy during the downturn. The last commercial office buildings in its modern office district were completed by private developers in 1992. Nearly 20% of the city's office inventory was built before 1960, more than in other large Canadian cities, according to Cushman & Wakefield. Other pension funds also are making new investments in Montreal's office market, though they are focusing on core properties. Ivanhoé Cambridge, an arm of Quebec-based pension fund Caisse de dépot et placement du Québec, spent more than C$400 million in August to acquire full control of the Place Ville Marie office complex, and is planning a C$100 million upgrade. Cadillac Fairview began assembling land for its project in 2009 when it acquired Windsor Station, a historic hub that dates to the 19th century. The area is southwest of Old Montreal, the historic section of the city near the St. Lawrence River. But the area has been unappealing to most office-building developers because it lacks many stores, restaurants or other amenities. "No one was interested in developing," Mr. Iacono says. The company has been planning a development including retail, office and residential space since then, but many were skeptical that businesses could be convinced to move outside of the city's traditional business center. That skepticism was damped when Deloitte announced plans to move. Then this year, the Alcan unit of mining giant Rio Tinto said it would move its headquarters to the top eight floors of the 500,000 square-foot tower, increasing its occupancy to 70%. Cadillac Fairview also has started building a 555-unit condo on the site. Eventually, the entire complex will include an additional 4 million square feet of office, retail and residential space as well as public areas. Deloitte executives say the new building—slated to open in 2015—was appealing because of its energy efficiency and green features such as stalls for charging electric cars. "This building is a catalyst for a whole energy for that part of the city," says Sheila Botting, national leader of real estate for Deloitte in Canada. -
Rio Tinto Alcan, agrandissement du siège social - 20 étages (2010)
un sujet a posté GDS dans Projets Annulés
I guess this could also go in the cancelled section. This is what RioTintoAlcan was considering before they decided to sell their head office and move their entire staff into a new tower -
The jury members are: - Melvin Charney, architect; - Odile Decq, architect and Director of the École Spéciale d'Architecture, Paris; - Jacques Des Rochers, Curator of Canadian Art, Montréal Museum of Fine Arts; - Michel Dionne, architect, Cooper, Robertson & Partners, New York; - Raphaël Fischler, urban planner and professor at the School of Urban Planning, McGill University; - Mario Masson, landscape architect and Division Manager, Service du développement culturel, de la qualité du milieu de vie et de la diversité ethnoculturelle, Ville de Montréal; - Alessandra Ponte, associate professor, School of Architecture, Université de Montréal; - Philippe Poullaouec-Gonidec, landscape architect and holder of the UNESCO Chair in Landscape and Environmental Design at Université de Montréal. Instructions for prospective entrants (Courtesy of CNW Telbec)
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Bureaux site de Canderel à l'Île des Soeurs
un sujet a posté GDS dans Projets oubliés et/ou en suspens
A 45 - acre comprehensive, master planned office campus on Nuns' Island. This multi-phased office complex is geared to those tenants looking for the quality environment offered in suburban locations but with the benefits of a site located just five minutes from Montreal's central business district. Availabilities range from 50,000 sq.ft. to 500,000 sq.ft. in various configurations, all of which will be LEED certified. With the arrival of Bell Canada on Nuns' Island, public transportation has improved with investments in infrastructure being made by various governmental authorities; the neighborhood is poised for even more development. Companies such a Yellow Pages, Multi-prêt, Bombardier Recreational Products and the Bank of Canada continue to enjoy the exceptional office environment that Nuns' Island has to offer with its abundant retail offerings, bike paths, nature walks and lush landscaped public areas. -
(Courtesy of The Globe and Mail) First stop London, next stop global domination!
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This is a La Presse article from May 1998 regarding the Expos building an office complex to support their stadium construction project. The two towers next to Windsor station represents the two 50 floor towers that was part of the Canadiens original building plans, as mentioned in the second part of the article.
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http://www.montrealgazette.com/business/sale+city+buildings+prime+spots/5275338/story.html By Allison Lampert, The Gazette August 18, 2011 10:08 PM The former H.L. Blachford Ltd. manufacturing building at 977 Lucien L'Allier St. was purchased for $6.8 million in 2000 MONTREAL - The real-estate arm of the city of Montreal is poised to sell two buildings in prime downtown locations that have been sitting half-empty for years, The Gazette has learned. The two buildings, located near the Bell Centre, are among hundreds of thousands of square feet of downtown Montreal real estate that has recently changed hands – or is to be sold off – for new office and residential projects, at a time when land prices have reached all-time highs. The buildings, which are to be put up for tenders this year by the Société d’habitation et de développement de Montréal, are located on sites originally destined for the third phase of Quebec’s ill-fated E-Commerce Place. Quebec’s Department of Finance mandated the SHDM to manage the buildings it bought for close to $7.9 million in 2000. “We want to put them for sale by the end of the year,” said Carl Bond, director of real estate management for the SHDM, a paramunicipal organization that owns and manages affordable housing units, along with several commercial buildings. “Those buildings will be sold, but we need an authorization from the (Department) of Finance.” Located at 977 Lucien l’Allier, and 1000-1006 de la Montagne St., south of René Lévesque Blvd., the buildings were initially slated to be demolished to make way for gleaming office towers. They were to be the last part of the 3-million-square foot Parti Québécois-supported project that was later scrapped by the Liberal government in 2003. The 24,000-square-foot site north of the Lucien l’Allier métro station was purchased from manufacturer H.L. Blachford Ltd. for $6.8 million in 2000 – far above the building’s 2011 municipal evaluation of $4.5 million. The disparity between the sales price and the current evaluation, an SHDM spokesperson explained, is because the land was to be used for a lucrative office tower, worth far more than a four-storey manufacturing plant. The two buildings have taken a long time to come to market. That’s because Blachford had a lease at the building until this spring when it ceased operations, Bond said. A travel agency is still operating at the building on de la Montagne, part of which is in a decrepit state. What’s more, the SHDM is now embroiled in legal talks with Blachford over the cost of cleaning up the building, which is contaminated. “Right now the lawyers are talking and we’re hoping to settle this out of court,” Bond said. But some commercial brokers say the SHDM lucked out in waiting. The buildings, they said, would be ideal for residential development at a time when new condos are being constructed in record numbers and downtown land is selling at a premium. “In terms of timing, it’s better to go to the market today,” said Louis Burgos, senior managing director, Cushman & Wakefield, Montreal. Today, land in the downtown area is being sold for $250 to $350 per square foot, brokers say, depending on the level of building density, or how much can be developed overall on the site. The SHDM’s two buildings won’t be coming to market alone. Another three sites have either traded hands, or are to come to market this year for the purpose of development. In late July, a site of Overdale Ave., an estimated 140,000-square-foot plot on the south side of René Lévesque Blvd, beside Bishop St., was sold by a company based out of a Sherbrooke St. West art gallery run by director Robert Landau for $28 million, provincial records show. The buyer is a numbered company owned by investor Kheng Li, who is a partner of E. Khoury Construction Inc. A worker at Khoury who didn’t want to be identified, said the site could be used for either residential or office development. And in April, Cadillac Fairview Corp. Ltd. announced a $400 million investment for an office and three condo towers to be built near the Bell Centre, on Saint Antoine and de la Montagne Sts. Yet a fifth land site near the Bell Centre is to be put on the market next week, The Gazette has learned. The price these sites will fetch will depend on a combination of zoning and market demand. The red-tape Montreal developers have historically faced in obtaining zoning changes to built higher — and more economically viable buildings — may be easier to deal with if the seller is a city agency, brokers say. alampert@montrealgazette.com http://www.twitter.com/RealDealMtl Read more: http://www.montrealgazette.com/business/sale+city+buildings+prime+spots/5275338/story.html#ixzz1VRFi0FYh
