MAESTRIA

Quebec’s largest mixed-use residential project breaks ground

Monday, September 30, 2019

Devimco Immobilier, the Fonds immobilier de solidarité FTQ and Fiera Real Estate have broken ground on Maestria, the largest mixed-used residential project ever built in Montréal. Featuring two towers with a combined 1,750 residential units, when complete Maestria is projected to cost more than $700 million. The first tower, rising 57 storeys, is located on the site of the former Spectrum de Montréal, in the heart of the Quartier des Spectacles.

Since the project was announced in November 2018, more than 75 per cent of the first tower’s 438 condominium units have sold, with sales now kicking off for the second 61-storey tower, comprised of 611 condos and 340 rental units.

“The demand is there, and the real estate market is going strong, which is enabling us, with the help of our partners, to develop projects as distinctive and avant-garde as Maestria,” said Serge Goulet, President of Devimco Immobilier. “We are proud to be establishing a presence in this thriving artistic neighbourhood.”

Designed in collaboration with the architecture firm Lemay, the project’s design is intended as a nod to the Quartier des Spectacles cultural district. Featuring two asymmetrical towers and an aerial walkway connecting the buildings at the 26th and 27th floors, residents will have a front-row view of Place des Festivals, the epicentre of this district that claims North America’s highest concentration of arts and culture, with museums, performance venues and galleries.

“We are excited to be playing a role in the accomplishment of this flagship project, with its hugely strategic site and spinoffs that will benefit the entire Québec economy,” added Normand Bélanger, President and CEO of the Fonds immobilier de solidarité FTQ. “The two towers will rise on the skyline and become an emblem for the city, a symbol of real pride for Montrealers.”

“We are pleased to be taking part in this extraordinary project, which honours the area where it will stand. Montréal’s cultural wealth is reflected in its design, and this is what makes it a one-of-a-kind development,” added Pierre Pelletier, Fund Manager and Senior Vice-President, Opportunity and Development, at Fiera Real Estate:

With the aim of obtaining LEED certification, the project will apply best practices in sustainable development and environmental responsibility. With its green spaces, retail gallery, leisure areas and sports facilities, Maestria will provide its residents with a stylish and elegant living environment.

A small public plaza will be accessible to all. The partners are seeking to bring in select restaurants, entertainment venues and neighbourhood shops and services, as well as office space.

Together with the District Griffin, Square Children’s, MAA and Onessy projects, this brings Devimco Immobilier’s housing starts to 6,300 units on the Island of Montréal alone, for a total investment of $2.4 billion.

Maestria project highlights:

  • Nearly 1,750 residential units
  • Units ranging from 300 to 2,200 square feet
  • Green spaces developed to promote urban biodiversity
  • A small public plaza accessible to retail customers
  • An indoor pool
  • An outdoor pool with spa
  • A top-quality fitness room
  • Two Skylounges with terraces on the 26th and 27th floors, providing access to the SkyBox, a first for downtown Montréal and a true private lounge with a terrace overlooking the entire Esplanade de la Place des Arts, as well as connecting the two towers at these floors
  • A virtual-golf room
  • A playroom for children
  • A library and business centre
  • A movie theatre, multipurpose room and games room
  • Indoor parking areas
  • A retail gallery covering nearly 50,000 square feet
  • Restaurants, cafés and neighbourhood shops

 

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