$700-mil mixed-use development set for Montreal

Friday, November 30, 2018

Devimco Immobilier, the Fonds immobilier de solidarité FTQ and Fiera Properties have partnered to develop the largest mixed-use real estate project in Montreal’s Quartier des spectacles. The $700-million project, MAESTRIA, is set to rise on the former site of Le Spectrum de Montreal.

MAESTRIA will be comprised of two towers, rising 51 and 53 storeys, and will have access points on Jeanne-Mance, De Bleury and Sainte-Catherine streets. Marketing of the approximately 1,000 condo suites and 500 rental units, ranging from 300 to 2,500 square feet, will begin in February 2019, with construction scheduled to begin by the end of next year.

“We are proud to be building a distinctive, avant-garde property that will help enhance the urban fabric of this booming arts and culture district,” said Serge Goulet, president of Devimco Immobilier, in a press release. “With this landmark project, we intend to maintain the Devimco tradition of creating a living environment with mixed uses that will serve project residents as well as visitors to this highly popular part of Montreal.”

Designed in collaboration with architectural firm Lemay, the development’s design was inspired by the artistic and cultural vibe of the Quartier des spectacles. According to Daniel Arbour, senior partner at Lemay, the building’s design is, “a nod in the direction of the Quartier des spectacles, a project with a powerful identity and a unique signature, with the two tall towers seemingly in motion, like a pair of tango dancers.” He continued: “The design includes, at the 25th-storey level of the towers, the highest walkway between two buildings ever to be built in Montreal, where residents will enjoy a prime view onto every major event held in the Place des Festivals below.”

MAESTRIA’s other amenities include 512 interior parking spaces, green spaces developed to promote urban biodiversity, a semi-Olympic indoor pool with swimming lanes, an outdoor pool with spa, a full Scandinavian thermal pool and spa circuit, a 4,800-square-foot fitness room, a virtual golf room, a games room for children, a library and business centre, a movie theatre, multipurpose room and games room, music rehearsal studios and creative studios. The development will also feature a 51,000-square-foot mini-plaza with retail space, featuring restaurants, cafes and shops, and two sky lounges with terraces and a SkyBox, which will overlook the entire Esplanade des Festivals/Place des Arts complex and connect the two towers.

Along with the project, Devimco Immobilier, the Fonds immobilier de solidarité FTQ and Fiera Properties also plan to contribute to the community, but according to Goulet, discussions are underway to determine how to best use the space, for example, as recording studios or arts and culture presentation venues. In addition, the partners made donations totalling $100,000 to promote children’s welfare.

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