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A $45-million investment by Ivanhoe Cambridge - Place Vertu Gets a Makeover

MONTREAL, Nov. 29 /CNW Telbec/ - Place Vertu, owned and managed by

Ivanhoe Cambridge, is happy to announce a $45-million investment (including

all related fees) in the shopping centre, located in the borough of

Saint-Laurent in Montreal, to carry out a large-scale redevelopment project.

Construction work for this much-anticipated undertaking, designed to

revitalize the property and its retail mix, began in the summer of 2007 and

will wrap up in the spring of 2009.

"We are very enthusiastic about renovating Place Vertu. This project is

in keeping with our strategy to continuously enhance our properties and

strengthen their market position and share," said Jean Laramée, Senior Vice

President, Eastern Region, Ivanhoe Cambridge.

"This is excellent news for Place Vertu and its customers!" said Michael

Bonetto, General Manager of Place Vertu. "The project will enable Place Vertu

to take full advantage of its strategic location in the heart of

Saint-Laurent, one of the fastest-growing communities on the Island of

Montreal. Naturally, we will be doing everything we can to minimize any

inconvenience to our tenants and ensure that our customers can continue to

shop undisturbed."

The main highlights of the project are as follows:



- Closing of The Bay, and relocation of Zellers into the vacated

premises, with its brand-new Zellers + concept (120,000 square feet

over two floors). Official opening scheduled for December 1, 2007.

- Expansion, reconfiguration and renovation of the food court to make it

more cosy and appealing. Expected completion: Spring 2008.

- Expansion of several stores and arrival of new retailers.

- Indoor and outdoor renovations and addition of decorative elements to

complement the centre's overall design. Construction of new entrances

and modernization of the façade along Côte-Vertu Boulevard.



The project is already generating a great deal of interest among

retailers, and talks are currently under way with a number of potential

tenants. Leasing agreements were recently signed or scheduled to be signed

very shortly with Winners, which will occupy some 25,000 square feet as of

summer 2008, Browns Shoes Outlet, Lace Canada (a high-end women's fashion

retailer), La Vie en Rose/Aqua, Urban Planet and a 25,000-square-foot

specialized grocery store.


About Place Vertu


Located in the borough of Saint-Laurent in Montreal, a stone's throw away

from one of Canada's largest industrial parks, Place Vertu opened for business

in 1975. Today, it features four anchor tenants and some 155 stores and

services. Its gross leasable area, including an office component, is nearly

924,000 square feet and it greets close to 6.5 million shoppers every year.

Place Vertu is owned and managed by Ivanhoe Cambridge.

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Ha, I used to work there in the office 'tower'. Wasn't too bad IMO. One thing they could improve is move the 121 bus terminal inside the parking lot, next to the doors, and build an enclosed, heated shelter. Crossing the whole lot in the winter sucked, and waiting for 20 minutes outside was even worse. Even though it's a suburban type mall the bus route was always packed.

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  • 3 weeks later...
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Place Vertu rénovée



21 décembre 2007 - 06h41

La Presse

Laurier Cloutier


Ivanhoé Cambridge va rénover Place Vertu grâce à 45 M$ investis dans ce centre commercial de l'arrondissement de Saint-Laurent d'ici le printemps 2009.


«Les clients vont ainsi retrouver à Place Vertu des détaillants qui s'installent souvent dans les mégacentres», déclare à La Presse Affaires Jean Laramée, vice-président principal de la région de l'est chez Ivanhoé Cambridge, filiale de la Caisse de dépôt et placement du Québec.


Les travaux ont déjà commencé. La Baie a fermé son magasin de Place Vertu et le groupe HBC en a profité pour aménager son nouveau concept Zellers + sur deux étages, dans des locaux de 120 000 pieds carrés ouverts le 1er décembre. Winners occupera de son côté une superficie de 25 000 pieds carrés à partir de l'automne 2008.


«Place Vertu élimine une aile, plus faible au niveau de l'affluence, et la remplace par Winners, une foire alimentaire réaménagée et agrandie et d'autres détaillants, comme La Vie en Rose/Aqua, Urban Planet et Chaussures Browns Outlet», explique Jean Laramée.





Place Vertu peut compter sur une bonne clientèle pour sa foire alimentaire grâce aux nombreux employés de bureaux des environs, dit-il.


Jean Laramée reconnaît que Place Vertu n'a pas la même vocation que le centre Fairview Pointe-Claire, du concurrent Cadillac Fairview, et le Centre Rockland, d'Ivanhoé Cambridge, qui misent tous deux sur la mode.


Place Vertu veut par contre mieux servir la clientèle de la classe moyenne, dit-il, que reluquent des mégacentres. Lace Canada, un détaillant de mode féminine haut de gamme, va aussi s'installer à Place Vertu.


Le centre commercial profite de la croissance de la population de l'arrondissement de Saint-Laurent, l'une des plus fortes sur l'île de Montréal, selon Ivanhoé Cambridge.


La société possède 70 centres commerciaux, dont en Amérique du Nord, et mise sur la stratégie d'accentuer leur vocation et leur rayonnement.


Ainsi, Place Sainte-Foy, de Québec, amorcera des investissements de 40 millions, dès janvier 2008, pour faire plus de place à la Maison Simons. Quant aux autres travaux de l'an prochain, Ivanhoé Cambridge ne peut les annoncer tout de suite. Malgré les rumeurs, le Mail Champlain, de Brossard, ne travaille pas à un projet d'expansion, assure Jean Laramée.



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