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Not sure if this gazoo article brings anything new to this crowd

https://montrealgazette.com/news/local-news/48-2m-downtown-montreal-property-project-targets-students

 

Quote

A new rental property aimed at university students is going up downtown in time for the 2022-23 academic year.

Construction on the Mildoré — a $48.2-million project on Peel St., south of Sherbrooke St., that will include 70 fully furnished three- and four-bedroom units for up to 279 students — began in earnest this week, developer Werkliv said Tuesday. Completion is expected in May 2022.

The 19-storey, 85,000-square-foot building will be located next to the Residence Inn hotel, across from the MAA Condominiums now under construction. Monthly rents will average $885, excluding utilities, on a standard 12-month lease, said Werkliv president Daniel Goodfellow. Reservations will begin in October.

Unlike most private student residences, which are often converted hotels or office buildings, the Mildoré has been designed with the specific needs of students in mind, said Goodfellow. Indoor parking for about 60 bicycles will be available underground.

“Students have an affordability need, and they also have a tendency to prefer cohabitation,” Goodfellow said Tuesday in a telephone interview. “All of our apartments come fully furnished so that we optimize the space. You can build your kitchens around the idea that the students are going to need more prep space but less storage space than in a regular apartment. You can also create bedrooms that have study spaces.”

A 2007 McGill University physics graduate, Goodfellow started Werkliv in 2012 — having bought his first revenue property in 2003 while still in university.

“It’s always been my desire to build homes for students because of my experience as a student,” he said. “When I was studying, the apartments that were available were poorly managed by landlords that didn’t really care about their tenants as much as they cared about renting for the highest possible amount. I thought I could do something better.”

Montreal-based Werkliv owns a handful of buildings in the downtown core, in addition to ongoing projects in Halifax and St. John’s. The company is developing about $200 million worth of property, according to its website.

Werkliv’s hometown is facing “a serious affordability issue,” said Goodfellow. “I don’t think there’s enough inventory for students and the general Montreal community, which is creating upward pressure on rents.

“I’ve been doing this for some time now, and in the developments we’re seeing today the rents are growing at paces I’ve never seen before. The idea with this building is to try to address some of that by putting more inventory on the market. I believe that affordability is achieved by increasing supply.”

Building student housing isn’t only about making a profit, insists Goodfellow.

“We have a triple bottom line — people, planet and profit,” he said. “We won’t do a project unless it’s profitable, but also we won’t do a project if we can’t make it more sustainable, both from a social and environmental standpoint. I think you can achieve all of this.”

 

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Le 2021-06-22 à 21:39, denpanosekai a dit :

Not sure if this gazoo article brings anything new to this crowd

https://montrealgazette.com/news/local-news/48-2m-downtown-montreal-property-project-targets-students

 

 

3 to 4 bedrooms apartments? wow, that's actually pretty incredible for downtown. this project is much more interesting knowing that's the focus.

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