Gotti

SNC-Lavalin completes the sale-leaseback of its headquarters in Montreal with GWL Realty Advisors for approximately $170 million Montreal June 22, 2017 SNC-Lavalin announced today that it has completed the sale of its Montreal head office building and the adjacent empty lot of land located on René-Lévesque Boulevard West for approximately $170 million to GWL Realty Advisors on behalf of institutional clients. SNC-Lavalin leases back the building for 20 years. SNC-Lavalin plans an extensive renovation project that aims to provide employees with modern workspaces designed according to best practices in efficiency, flexibility, innovation and teamwork. Consultation and planning for this project have already started. “We continue to move forward with our strategy of unlocking value from our assets in order to reinvest in our business. This sale brings several benefits, notably the opportunity to create a work environment that enhances collaboration for our Montreal-based employees, most of whom will be brought together in one main location,” said Neil Bruce, President and CEO. The decision to sell the property was made as part of SNC-Lavalin’s Operational Excellence program where we conducted a review of the company’s owned real estate portfolio that was announced during the third quarter 2016 financial results. SNC-Lavalin explored real estate opportunities that included putting the Montreal head office property on the market. This initiative led to the sale-leaseback of the head office, which will further contribute to SNC-Lavalin’s efficiency and performance as a company. By undertaking significant renovations to modernize the current workspace, the company will also strengthen its core objective to build a performance-driven culture that inspires employees to be more collaborative and enhances overall efficiency and productivity. “SNC-Lavalin is here to stay. Our long-term lease demonstrates our commitment to Montreal and to Quebec,” continued Mr. Bruce. “We have been an integral part of Montreal’s fabric for over a century, and will continue our growth from our downtown Montreal headquarters for years to come.” ABOUT SNC-LAVALIN Founded in 1911, SNC-Lavalin is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure. From offices in over 50 countries, SNC-Lavalin's employees are proud to build what matters. Our teams provide EPC and EPCM services to clients in a variety of industry sectors, including oil and gas, mining and metallurgy, infrastructure and power. SNC-Lavalin can also combine these services with its financing and operations and maintenance capabilities to provide complete end-to-end project solutions. www.snclavalin.com ABOUT THE TRANSACTION This sale-leaseback transaction was facilitated by our real estate agent RBC Capital Markets in association with Cushman & Wakefield. http://www.snclavalin.com/en/media/press-releases/2017/snc-lavalin-completes-sale-leaseback-headquarters-montreal-gwl-realty-advisors.aspx

I would think that there are 2 companies: One who owns the real-estate (which was recently built) and the McDo franchisee who operates the restaurant. This is plausible - a quick consultation of the role foncier shows that the property is owned by Morton Katz, that the building was constructed in 2014 for specific restaurant purposes and has a municipal valuation of 4 851 600$. If the property owner is different from the McDo franchisee, it is also highly likely that a long-term lease was signed. Otherwise, why build a new building specifically for a fast food chain? This building comes down only if: - Same owner of both companies and the developers of 975 offer up an incredible offer that they can't refuse (also, where do you put the McDo and it's employees while 975 is going up?) - Different owners of each company and the developers of 975 offer up an incredible deal that (i) pays for the damages of the breaking of the long term lease (ii) compensates for the recent construction costs (iii) yields a better return than the long term cash flows of the rent from McDo. Personally, it's tough to see happening. Look at the small shops in front of the QDS tower and how they don't want to sell. And those are OLD building.

Je voudrais simplement souligner le fait que parfois, quand des gens expriment des points de vue qui sont différente de la tienne, ce n’est pas de la mauvaise foi. Ils expriment ce qu’ils pensent est bon pour Montréal. C’est leur droit et t’as pas besoin d’être en accord. Je n’ai jamais dit que c’est à cause que je suis anglophone que je pourrai facilement déménager ailleurs. Je pourrai facilement me déplacer à cause que je suis jeune, j’œuvre dans une profession en demande et j’ai des relations à travers les États-Unis, l’Europe, l’Asie et l’Australie. Le fait que je parle l’anglais et le français me donne plus de choix. C’est toi qui as interprété mes paroles d’une autre façon. Et bien sur les francophones pourront déménager n’importe où. Et ils le font – en masse. Et c’est une perte nette pour notre métropole. Je connais beaucoup d'anciens collègues francophones et des amis universitaires francophones qui n’habitent plus à Montréal. Ils ont déménagé pour des opportunités qui n’existaient pas ici. Je ne suis pas pessimiste. Je reste ici. Je pense que nous avons pris des pas importants depuis plusieurs années et il faut continuer d’en prendre. Et je ne critique pas le fait français. Encore une fois, c’est ton façon d’interpréter mes paroles. STP, dis-moi ou est-ce que je critique le fait français? Le but de mes paroles n’était pas de critiquer la révolution tranquille, l’évolution des « maitres chez nous » ou n’importe qu’elle manifestation de la nation québécoise. J’exprimai simplement que les membres du forum veulent que Montréal soit un succès. Même si leur définition de succès et différente de la vôtre… Je suis jeune (peut-être pas jeune, mais pas vieux). J’ai grandi dans un environnement ou ta langue maternelle était et reste moins importante que tes talents et ton éthique de travail. Je sais qu’il a eu des injustices historiques. Mais ces injustices ne devraient pas infiltrés et affectés chaque poste. Je me sentais simplement frustré. Je voulais bâtir des ponts en disant que j’habite ici, que notre ville à des forces sur lesquelles nous devrions capitaliser, que chacun à son voix et apporte une dynamique et façon différente mais légitime de penser, et que nous devrions arrêter les stéréotypes. Je pense que c’est la dernière fois que je me mêlerai dans n’importe quoi quasi-politique ou sociale.

As an "older millennial" bilingual anglophone who chooses to live, work and raise a family in Montreal, this topic touches a nerve. I can't stand the "angryphone this - francophone that" rhetoric because it introduces emotions into what should be a discussion based on facts. It can also get peoples' back up against the wall - which doesn't lead to a productive outcome. Here is my point of view, a point of view from someone who could easily move away (especially to Toronto, where a lot of my childhood friends now reside): - Just like any city, Montréal has it's pros and cons - Montréal competes on a national and international stage for everything from talent to HQs to new investment. We need to be better than the competition to win - Montréal is unique in North America: It is the crossroads of Europe and North America. This is our heritage and we should embrace it - The ability of most people to communicate or understand 2 of the world's major languages is a tool that I believe should be harnessed I think that everyone posting on this forum wants the best for our city. Whether someone is singing the virtues of a development or finding fault with our tax code the end goal is the same. I would ask that we stop the name calling and the angry responses that serve nothing more than to perpetuate stale stereotypes. Everyone has an opinion on what is best for Montréal and each is legitimate. I for one, am proud to live and work here. Je suis un fier montéalais. Je suis convaincu qu'en travaillant ensemble nous pourrons faire rayonner notre ville.

The change since 1999 is even more dramatic. Starting with the ACC and looking north and west, there were no tall buildings west of Bay Street and south of Front. Not to mention the towers going north. I can't find any good pictures online right now but when I'll post something when I can. The viewpoint of this time reinforces the spectacular growth of the city over the last 18 years. Hopefully, Montreal's construction mini-boom continues for a long time. And building outside of the current core can help revitalize areas in their proximity.

Je suis d'accord. j'ai vraiment hâte!

I don't have specifics so please don't jump on (and feel free to add the relevant comparative facts) but I think it's more the cost that people are upset about. Only the thickest of obstructionists are against the idea of putting our architectural heritage on stage in a beautiful and striking way. The cost is where people get upset ~$40M for 10 years ($4M per year). I recall hearing that other bridge lighting projects, such at the Brooklyn Bridge and the Golden Gate, cost far less.

From the Gazette article: "The engineering and construction company said it remains committed to Quebec's largest city and its activities in the province, but it is looking to sell the 21-floor downtown building and adjacent land and then lease back office space as part of its drive to cut costs." Any new development will be on the new owner's dime. SNC-Lavalin doesn't want to own office space beacause it's not their core competence. This is a sale leaseback transaction. Hopefully a developer and not a REIT buys the property. Otherwise there's very little chance of a new tower on the empty lot.

There’s a Surprise Leader in Canada’s Race for Smart Global Jobs - Bloomberg What political stability, proper allocation of resources to growing industries/sub-sectors and excellent affordable higher education can achieve. Esperons que ça continue! Allez :mtl: Allez There’s a Surprise Leader in Canada’s Race for Smart Global Jobs by Sandrine Rastello and Frederic Tomesco January 18, 2017, 5:00 AM EST Quebec accounts for 42% of national labor force growth in 2016 GSOFT, Ubisoft, Breather among companies adding positions When there’s a skateboard ramp in your office, and an in-house barista to serve you coffee in between coding tasks, chances are you’re in California. Unless, of course, it’s Quebec. Simon De Baene is installing the Silicon Valley perks at his Montreal-based software company GSOFT, which expanded its workforce by 60 percent in the past year, with more to come. That’s just one example of the mini-boom that’s vaulted Quebec, long seen as Canada’s economic laggard, to the top of the country’s job-creation league. And not just any old jobs: smart ones, the kind Canada’s policy makers want to replicate nationwide, as they seek new sources of growth after the oil crash. Quebec’s unlikely position in the vanguard of that effort, two decades after it almost seceded, has been rewarded by investors who made its bonds the best performers among 10 provinces last year. “We have an incredible quality of life in Quebec: great engineers; we’re creative; and the cost of living is really good,” said De Baene. “We have the ideal environment to build up successful organizations.” Montreal, epicenter of the job gains, is one major Canadian city without runaway home prices or exorbitant power rates. It’s Toronto without the hangups. Meanwhile the provincial government’s finances are improving, and the weakest exchange rate in more than a decade is helping companies win international orders. Quebec added 85,400 full-time jobs in 2016, more than the other nine provinces combined, and growth in its labor market accounted for 42 percent of the Canadian total. The unemployment rate hit a record low 6.2 percent in November, and held below the national average for a fourth straight month in December, something that’s unprecedented in data back to 1976. From the information-technology consulting firm De Baene, 31, co-founded when he was a student 10 years ago, GSOFT now makes 43 percent of its sales in the U.S., employs more than 200 and counts Walt Disney Co. and Tesla Motors Inc. as clients. France’s Ubisoft Entertainment SA, the maker of Assassin’s Creed, was among the first to take advantage of a government tax break when it opened an office in Montreal in 1997. Cedric Orvoine, vice president of human resources, said Ubisoft now has 3,400 employees in Quebec City and Montreal after increasing its head count by 180 people since April. He plans to add 120 positions annually over the next two to three years. Breather is a Montreal-based startup that allows users to book meeting rooms and work spaces in cities including London, New York, and San Francisco. The company grew staff by 60 percent in 2016 to 83, more than quadrupling its customer-care team to 17, Human Resources Manager Frances Wilk said by e-mail. Policy makers are increasingly pinning their hopes on such companies as the country pivots away from natural resources. Information technology service exporters generate only 3.4 percent of Canada’s gross domestic product and about 1.5 percent of exports, but companies within that sub-sector are seeing strong, often triple-digit revenue growth, according to a central bank discussion paper released in November. Perpetual Deficits GSOFT has two flagship products, one of which lets employers measure the mood of workers. Happiness at work is a topic De Baene takes seriously, blogging about it for a local newspaper. The joy is spreading to investors. Quebec debt returned 2.1 percent in 2016, the most among Canada’s 10 provinces, and spreads have narrowed since the April 2014 election that handed victory to the pro-federalist Liberal Party. “We are quite impressed with what’s going on in Quebec,” Hosen Marjaee, who oversees about C$35 billion ($27 billion) at Manulife Asset Management, said by phone from Toronto. Marjaee has worked in Canadian bond markets since the 1980s. He said back then, perpetual deficits and the issue of sovereignty weighed on the province’s debt, but that’s changing. Indeed, Quebec delivered an unexpected budget surplus in the last fiscal year, and the separatist Parti Quebecois suffered its biggest ever defeat in the 2014 election. Political turbulence was partly responsible for driving business out of Montreal over the years. Perhaps one silver lining is that people can still afford to buy a house there. Montreal benchmark home prices were C$312,700 in December, versus C$694,900 in Toronto and C$897,600 in Vancouver. To be sure, the manufacturing sector has some challenges. Bombardier Inc. recently announced about 1,500 Quebec job cuts to take place over two years. Mondelez International Inc., the maker of Oreo cookies, said in November it plans to close a production plant in Montreal this year, with the loss of more than 450 jobs. Dollar Effect And the improving job numbers may mask a deeper problem. In November, some 20,300 people dropped out of the labor force, which is set to shrink as the population ages, according to Mia Homsy, the director of the Montreal-based Institut du Quebec, an economic think tank. Still, that hasn’t stopped engineering firm Altitude Aerospace Inc., which counts Bombardier among its clients, from going on a hiring spree. The company, which modifies and repairs planes already in service, recruited 26 people in 2016, bringing its headcount in Montreal to about 80, according to founder and president Nancy Venneman. With many projects in Europe and in the U.S., “the weak Canadian dollar definitely helps when we do the bidding,” Venneman said in a phone interview. And the outlook is improving. Last month National Bank of Canada revised its forecast for 2016 economic growth in Quebec to 1.7 percent, from 1.5 percent, citing a revival in domestic demand and residential construction. The surge in full-time employment is starting to boost consumer spending, which should stimulate more job creation, Eric Corbeil, senior economist at Laurentian Bank Securities in Montreal, said in a phone interview. “The wheel has started to turn,” he said.

Le Tom et son frère coté à coté...

Tongue in cheek so don't get upset. But still really funny. It's only when you can laugh at yourself and self-diagnose that you can get better http://ici.radio-canada.ca/tele/bye-bye/2016/segments/prestation/13247/375e-montreal?isAutoPlay=1

They say all publicity is good publicity. Don't forget the buses and cop car sliding down Beaver Hall

Tour du chantier: Adamo Mariani - Live at YUL condos | Facebook

The value of the Canadiens will drop this year because they didn't make the playoffs last year. I have an issue with the way sports teams are evaluated but the main reason why the Canadiens were suddenly worth more (as per Forbes) than the largest hockey market in North America (Toronto; in terms of $, not population size) over the past couple of years was the Canadiens consistent payoff appearances. It wasn't long ago that the Leafs were ranked higher than the Habs and the Rangers. It's all due to the almost pure profit cash flows generated from playoff games that the Canadiens enjoyed consistently (until last year; No Excuses! except for the coach and GM and Price's knee) and that the Leafs continuously missed out on. Personally, I think sports franchises are overvalued and reaching "bubble" heights. When the LA Clippers go for US$2 billion you just have to shake your head. Although Steve Ballmer has enough money he probably would have paid more if needed. There are either some serious growth premiums built into the valuations, too many owners who don't care about price (vanity projects), or the belief that sports broadcasts revenues will continue to grow and be immune to the type of disruption that traditional entertainment channels have experienced. Anyway, Go Habs Go and get on with TDC 3!

It better be... on the owner's dime as well.

Merci pour l'invitation! La prochaine fois que je prends un séjour à Charlevoix je te ferais signe. Malheureusement je ne sais pas quand je serais de retour. Reste que Charlevoix est un endroit que tous les québécois et canadiens devraient visiter!

Was there a few weeks ago. Really beautiful. Go whale watching in Tadoussac. The zodiac expeditions actually go up the Saguenay river/fjord to see les phoques. I would suggest staying at the Le Germain hotel in Baie-St-Paul. And if you are in shape, hike up L'acropole des Draveurs in the Parc des Hautes-Gorges. Amazing views! The whole Charlevoix region is just fantastic. http://www.authentikcanada.com/blog/wp-content/uploads/2011/05/sentier-rando-acropole-draveurs-1.jpg

This has nothing to do with English vs. French. In any case, shame on us and our governments for using public money to build something that was never guaranteed to occur. As much as I can't stand Bettman, he never promised a team in Quebec City nor was a legally binding document ever signed. We were used as leverage in his negotiations for Las Vegas and sunbelt teams. It was all foreseeable and was clear for most (i.e. non-partisan people) to see. Our politicians failed us yet again hoping for short-term popularity gains without any thought about long-term consequences. Quelle honte!

Remember when something fell and killed a pedestrian beneath Icone a while back? How can this happen in 2016? The woman is very lucky - it could have been much worse. Does this happen more often and go unreported because only the construction crews are present? This type of event is unacceptable.

Un maudit bon investissement!

Mémoire sélective. Le Québec a des fleurons différents qui ont fait des acquisitions massives à l'extérieur du Québec récemment: - Genivar - WSP - CGI - Stanley - Logica - Couche Tard - Metro - Saputo You can't have it only one way in a free and open marketplace. Mais t'as raison qu'il faut trouver la bonne relève pour les entreprises d'ici. Même des gens expérimentés et talentueux qui viennent d'ailleurs tant que des gens d'ici.

I'm not sure if Alex Montreal's message was sarcastic or not so I'll leave politics aside. But for someone who lived in the Plateau for years that is one hell of a funny video :hyper::hyper: "Mais c'est quoi une pourboire?" LOL

Et 8 grues! Un nouveau record pour un quadrilatère si restreint?