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_mtler_

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  1. Downtown condo tower project criticized for lack of green space

     

    http://montrealgazette.com/news/local-news/downtown-condo-tower-project-criticized-for-lack-of-green-space

     

    There is a marked lack of “social acceptability” and a high level of disappointment among downtown residents over a proposal to build two 19-storey condominium high-rises on René-Lévesque Blvd., a report from Montreal’s public consultation board revealed Thursday.

     

    Residents worry the twin towers will create a soaring architectural blight in a community of low-rise buildings and Victorian-style homes. They’re concerned the towers will loom over two adjoining heritage buildings and render them insignificant.

     

    Most of all, they’re disappointed the one remaining possibility for a large green space and perhaps a soccer field in their high-density neighbourhood is likely lost. And this after years of efforts by community groups and residents that resulted in an official urban plan adopted in 2012 that prioritized the need for green spaces, community centres and playgrounds.

     

     

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  2. http://affaires.lapresse.ca/economie/transports/201608/09/01-5008770-taxelco-dalexandre-taillefer-achete-taxi-diamond.php

     

    La firme Taxelco d'Alexandre Taillefer a annoncé mardi l'acquisition de Taxi Diamond, la plus grande entreprise du secteur à Montréal.

     

    La valeur de la transaction n'a pas été dévoilée.

     

    Diamond s'ajoute à Taxi Hochelaga, acquis l'an dernier par Taxelco, et à Téo, un service de taxis électriques lancé il y a quelques mois.

     

    Avec les 1100 voitures de Taxi Diamond, Taxelco compte désormais une flotte de 1720 véhicules.

     

     

     

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  3. http://globalnews.ca/news/2871419/more-changes-to-the-cotes-des-neiges-landscape/

     

    A condo building, apartment buildings and a high-end hotel could form part of the new skyline in an aging industrial and residential neighborhood of Cote-des-Neiges.

     

    A commercial development company has plans to build the new residential/commercial project at the site of the old Armstrong floor tiling manufacturing plant on Decarie Boulevard south of Jean-Talon Avenue.

     

    The proposal would take up more than 32,000 square metres of land — making it larger than downtown Montreal’s Eaton Centre.

     

    “A couple of years from now this is going to be a green neighborhood with good housing,” Councillor Marvin Rotrand told Global News.

     

    The councillor representing the Snowdon district says the project is the latest in the ongoing efforts to revitalize this working class district.

     

    Nearby, a 4,000 housing unit project called The Triangle is already well underway.

     

    Rotrand is hoping a skywalk could be built over nearby CP railroad tracks leading to the nearby Namur Metro station.

     

    But there are no plans to build a new AMT train station in the area despite the St-Jerome line running directly through the area.

     

    “The successor organization to the AMT is probably going to be looking at where they’re going to build ridership. And the suburban trains have more potential in my estimation than they’re doing right now,” Rotrand said.

     

    The project still hasn’t bee formally introduced at the Cote-des-Neiges/NDG borough council.

     

    The old plant would have to be leveled and the land decontaminated before any work can begin.

     

     

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  4. http://www.stockhouse.com/news/press-releases/2016/08/08/laurentian-bank-of-canada-relocates-its-montreal-offices-and-takes-up-residence

     

    MONTREAL, Aug. 8, 2016 /CNW Telbec/ - Laurentian Bank of Canada (TSX: LB) has announced today that it is moving all of its Montreal offices, including its headquarters, into one building. It will occupy nine floors at 1360 Rene-Levesque Boulevard West, a LEED Silver certified building in the heart of downtown Montreal.

     

    "This relocation, as part of our transformation plan, will ensure that our institution will be simpler and more efficient, said François Desjardins, President and Chief Executive Officer at Laurentian Bank of Canada. We will achieve substantial savings by optimizing space and reducing rental costs. The new, modern space will foster teamwork in a collaborative environment."

    Since its creation 170 years ago, Laurentian Bank of Canada has always demonstrated a sustained presence in Montreal and continues its commitment to contribute to Quebec's economic growth.

     

    En français:

    http://www.newswire.ca/fr/news-releases/la-banque-laurentienne-regroupe-ses-bureaux-montrealais-et-elit-domicile-au-1360-boulevard-rene-levesque-ouest-589470471.html

     

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  5. So let's think of the investor whose soul purpose is the highest return possible.

     

    Montreal real estate steadily grows more or less with inflation. In the short term, until prices start to drop in Vancouver and Toronto (if they implement a tax), you're still better off paying the tax and investing in those two cities.

     

    Net of the 15% tax, your return is higher over there than in Montreal. So investors will continue the current trend until prices drops to a point where the annual returns are equal to the 15% tax. Only at that point, will Montreal be the more lucrative option.

     

     

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  6. Why is it always a question about English vs French with you? It's a question of economics.

     

    The Canadian dollar is low because of the barrel of oil. If oil was as high as it was when the Winnipeg Jets came back to the NHL in 2011, Québec would have their Nordiques this upcoming season.

     

     

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  7. http://www.cbc.ca/beta/news/canada/montreal/montreal-real-estate-tax-foreign-investors-vancouver-1.3704178

     

    A new tax on foreign buyers in Vancouver has real estate agents predicting a spillover effect into other Canadian markets.

     

    But it's unclear if Montreal, often an outlier when it comes to real estate trends, will be among them.

     

    "I really don't think this is something that's looming for Montreal," said Martin Desjardins, a local realtor.

     

    The market here is "nothing compared to what's happening in Toronto and Vancouver," he said.

     

    The new 15 per cent tax, which took effect Tuesday, was introduced by the British Columbia government with the intent of improving home affordability in Metro Vancouver, where house prices are among the highest in North America.

     

    Ontario Finance Minister Charles Sousa has said he is examining the possibility of a similar tax "very closely," as a measure to address Toronto's skyrocketing home prices.

     

    Experts believe the Vancouver tax could exacerbate the booming housing market in Toronto and, potentially, affect other Canadian cities.

     

    Brad Henderson, president and CEO of Sotheby's International Realty Canada, said some foreign nationals could turn to areas not subject to a tax — either elsewhere in British Columbia or farther afield.

     

    "Certainly I think Toronto and potentially other markets like Montreal will start to become more attractive, because comparatively speaking they will be less expensive,'' Henderson said.

     

    However, the Montreal market has so far remained off the radar of foreign investors.

     

    France, U.S top Montreal foreign buyers

     

    the Canada Mortgage and Housing Corporation said the number of foreign investors in the Montreal area is small and concentrated in condominiums in the city's downtown.

     

    The report found that 1.3 per cent of condominiums in the greater Montreal region were owned by foreigners last year.

     

    That number jumps to nearly five per cent in the city's downtown.

     

    Residents of the United States and France accounted for the majority of foreign buyers, while China (at eight per cent) and Saudi Arabia (five per cent) accounted for far fewer buyers.

     

    Francis Cortellino, the CMHC market analyst who prepared the study, said it's difficult to determine whether the Vancouver tax will change the situation much in Montreal.

     

    "We're not sure yet what [buyers] will do," he said. "There are a lot of possibilities."

     

    In Montreal, Desjardins said the foreign real estate buyers most often operate on a much smaller scale, often consisting of "mom and pop investors" or people from France looking for a more affordable lifestyle.

     

    "I don't think it will ever be to the point where we'll have to put a tax," he said.

     

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