GDS Posted November 29, 2007 Share Posted November 29, 2007 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. Link to comment Share on other sites More sharing options...
ErickMontreal Posted November 29, 2007 Share Posted November 29, 2007 Another $45-million investment for Montreal, thats really great ! Link to comment Share on other sites More sharing options...
Administrator mtlurb Posted November 29, 2007 Administrator Share Posted November 29, 2007 finalement, il commençait à être très agé. Link to comment Share on other sites More sharing options...
brad-514 Posted November 30, 2007 Share Posted November 30, 2007 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. Link to comment Share on other sites More sharing options...
Administrator mtlurb Posted November 30, 2007 Administrator Share Posted November 30, 2007 ah man, so much memories!! I used to walk all the way to get the 171 next to the Sears center, in the winter it sucked big balls!! Link to comment Share on other sites More sharing options...
Ornello Mastrocola Posted November 30, 2007 Share Posted November 30, 2007 I always thought it to be a low end mall. With Bois Franc next to it, it only makes sense to upgrade the mall. Link to comment Share on other sites More sharing options...
Administrator mtlurb Posted November 30, 2007 Administrator Share Posted November 30, 2007 it used to be pretty good, but went downhill from the mid 90s. Link to comment Share on other sites More sharing options...
francely57 Posted November 30, 2007 Share Posted November 30, 2007 it used to be pretty good, but went downhill from the mid 90s. Ah ok, c'était mieux avant... J'ai commencé à fréquenter cette place en 2006, et honnêtement ma première impression était vraiment aussi mauvaise que vous ce que vous avez décrit. Link to comment Share on other sites More sharing options...
Administrator mtlurb Posted December 21, 2007 Administrator Share Posted December 21, 2007 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. http://lapresseaffaires.cyberpresse.ca/article/20071221/LAINFORMER/712210983/5891/LAINFORMER01 Link to comment Share on other sites More sharing options...
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