Following several investments in construction projects totaling nearly $1 billion in Laval, the Fonds immobilier de solidarité FTQ has seen potential in the city’s residential, industrial and commercial sectors. As a result, it has decided to team up with Habitations Trigone on District Concorde, a 1,400-unit condo project in an up-and-coming neighbourhood in Laval-des-Rapides.
While the 15-phase project is expected to span eight years, the first phase will be ready in a few weeks. Located 500 metres from the train and the De la Concorde metro stations at the intersection of Léo-Lacombe and François-Souillard, the first building will feature one-, two- and three-bedroom layouts spanning seven floors, plus underground parking.
“District Concorde was designed to reflect our vision of an accessible real estate project, built according to environmentally friendly and sustainable development principles,” said Patrice Saint-Pierre, president of de Habitations Trigone, in a press release. “We also make it a point to look for locations that are conducive to Transit-Oriented Development (TOD), and in so doing, provide owners with easy access to public transit, shops, daycare facilities and schools.”
Through this partnership in District Concorde, the Fonds immobilier is consolidating its business relationship with Habitations Trigone, a residential developer that has helped create over 11,000 units. These two firms are also partners in Le Namur, a residential rental project on Place de la Savane in Montreal.
“With public space next to a metro station, many trees, a multipurpose path and a pedestrian and cycling overpass to cross the railroad tracks to the other side of the neighbourhood on the west side of the metro station, this project is consistent with the objectives of Laval’s Programme particulier d’urbanisme (PPU) and sustainable urban development policy,” said Normand Bélanger, president and CEO of the Fonds immobilier de solidarité FTQ, in a press release. “This $300 million project is important for the area and will create some 2,500 jobs, which is just one more great spinoff.”
The Fonds immobilier de solidarité FTQ and its partners have invested more than $350 million total in residential, commercial and office projects in the greater Laval area, including three other projects the Fonds immobilier is currently involved in, including Espace Montmorency, Urbania 2 and Industria 440.