Cadillac Fairview proposes almost $2 billion over the next 15 years to redevelop lands surrounding the Bell Centre
During a Board of Trade of Metropolitan Montréal Strategic Forum on Greater Montréal and its major projects, Salvatore Iacono, senior vice president, Development and Portfolio Management, Eastern Canada Portfolio, The Cadillac Fairview Corporation Limited, shared Cadillac Fairview’s vision and future projects for the development of Montréal’s downtown core. The following are excerpts from his keynote presentation:
“Over the last several years, Cadillac Fairview has completed significant projects that demonstrate our vision for real estate development: creating signature, mixed-use properties in the heart of the action, where entertainment, commercial and residential addresses come together. In doing so, Cadillac Fairview is on par with the major trends reflected in the most successful real estate development projects in North America today.
More than ever, we are building properties in multi-hub commuter districts; properties that are energy-efficient and provide residents with the opportunity to truly “experience” their cities. Cadillac Fairview wants to offer Montréalers projects that are in line with these trends.
In 2009, Cadillac Fairview acquired Windsor Station and adjacent real estate assets. This area can accommodate several million square feet of mixed-use development. The site is at the heart of a rapidly transforming community that integrates commercial, residential and entertainment venues into a vibrant urban landscape.
And over the next 15 years, Cadillac Fairview plans on investing up to $2 billion to develop this area. This is a comprehensive, multiphase, multiyear redevelopment of these lands surrounding the Bell Centre.
This mixeduse project reinforces CF’s strategy of expanding our core property assets, office and retail, in key urban markets, and demonstrates our commitment to investing in the longterm future of Montréal.
Our development plan will rest on 3 pillars: the Tour des Canadiens, the Deloitte Tower and the development of the area just south of Saint-Antoine Street. Straddling the natural ridge between the mountain and the river, the Tour des Canadiens will become Montréal’s tallest residential building and an unmistakable visual landmark. It will revolutionize urban condominium design by integrating sports and entertainment.
To the east of the Tour des Canadiens, will rise the Deloitte Tower, the city’s first, new, privately-owned commercial office tower to be built in more than 20 years. This is a building designed not just for work, but for success. It will provide an unprecedented level of comfort, productivity and prestige to Montréal’s forwardthinking business leaders. Deloitte Tower is scheduled to open in Summer 2015.
Ultimately, Cadillac Fairview plans on developing the area located just south of Saint-Antoine Street. We envision a mix of uses including office, residential and retail upwards of 5 million square feet which will contribute to creating a new vibrant, downtown neighbourhood.
The basic site plan includes: two towers organized in an urban campus layout, two office towers at the corner of Peel and Sainte-Antoine (approx. 500,000 sq. ft. each) and one million square feet of new commercial space.
Cadillac Fairview believes in Montréal’s enormous potential. We want to be partners in the development of this city. That is why we are launching one of the most significant real estate development plans in Montréal to be carried out over the next 15 years. Cadillac Fairview is aiming for the best because Montréal deserves the best.”