Montreal Economic Magazine | 2020 Edition by JBC Média inc.

VILLES Dâ&#x20AC;&#x2122;AVENIR COLLECTION VOLUME 10 | ISSUE 2

ONCE UPON A TIME IN THE EAST CITY OF

INNOVATIVE PROJECTS

CITY OF

KNOWLEDGE

PP 41614528

fondsimmobilierftq.com

BUILDING A BETTER FUTURE CAMPUS SIMONS – QUÉBEC PARTNER: SIMONS

56 REAL ESTATE PROJECTS

with a combined value of $3.6 billion in development or under construction that will create more than 30,000 jobs

$90 MILLION

invested to date in social, community or affordable housing

74 PROPERTIES

under management including

4,043 residential rental units and 3 million sq. ft. of office, commercial, industrial and social infrastructure space

1,3 MILLION SQUARE FEET of land slated for development Property management of

2 BUILDINGS,

totalling 472,000 sq. ft. of space

MAESTRIA – MONTRÉAL PARTNERS: DEVIMCO IMMOBILIER AND FIERA IMMOBILIER

Portfolio as at December 31, 2019

INVESTING AND BUILDING TOGETHER In partnership with industry leaders, the Fonds immobilier de solidarité FTQ invests in profitable, job-creating and socially responsible real estate projects across Québec. Through its financial and strategic involvement in the success of these projects, the Fonds immobilier is shaping a modern vision of urban development and helping to BUILD A BETTER SOCIETY.

ESPACE MONTMORENCY – LAVAL PARTNERS: MONTONI AND GROUPE SÉLECTION

A MESSAGE FROM THE MAYOR OF MONTRÉAL

ore than ever before, Montréal has become the economic engine of Québec.

The city rolled out its Economic Development Strategy “Montréal Geared up for tomorrow” over a year ago, and the results have been significant. We feel that the business community is onboard with this new vision for our metropolis, a vision that is both inclusive and environmentally friendly and that places citizens at the very core of Montréal’s priorities and actions. Once upon a time in the East… The transition to a sustainable, integrated economy is underway, and it is taking hold of the East End of Montréal. This key area of our metropolis has been neglected far too long, and our administration, along with the government of Québec, acknowledges the enormous potential for the development of the area located east of Pie-IX. There are unprecedented rehabilitation opportunities for the entire district.

CITY OF MONTRÉAL

Such a transition requires, first and foremost, the decontamination of land. Furthermore, mobility must be reinvented and improved, allowing for more agile, effective and cost-efficient travel options both for people and goods. Another aspect to be considered in this transition is the enhancement of land to be developed, through massive infrastructure investments. Finally, state-of-the-art industrial activities will be necessary to propel this future area of innovation. We are sparing no effort in ensuring a harmonious and inclusive cohabitation between residential neighbourhoods and employment sectors. Because as we redevelop the vast East End territory, we also seek to improve the quality of life of the entire population by providing more green space, quality developments and improved local services. We must allow ourselves to dream in order to bring the East End to reach its full potential and to rise to our collective aspirations. The avenues put forth by the city and the provincial government will be subject to a consultation and will lay the groundwork for the ensuing action plan. I would like to invite the entire business community to help us maximize the development potential of the East End, as well as of the entire territory of Montréal. Our metropolis is doing very well economically. Let’s use this momentum to propel it to new heights!

Valérie Plante Mayor of Montréal

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

CONTENT : : 2020 EDITION

3 A MESSAGE FROM THE MAYOR OF MONTRÉAL By Valérie Plante

5 A WORD FROM THE PUBLISHER By Jacques Boisvert 7

MONTRÉAL EAST – A NEW LOOK

REAL ESTATE OPPORTUNITIES Montréal on Investors’ Radar

21 GREATER MONTRÉAL DELEGATION Promoting Montréal at MIPIM 2020 27 UNIVERSITIES AND THE CITY OF MONTRÉAL A Naturel Alliance UMQ REPORT 30 MANPOWER IN GREATER MONTRÉAL Wanted: Job Candidates

35 LAVAL A growing city that attracts business and workers

32 NEW IMMIGRANTS Helping newcomers find employment 38 REAL ESTATE + MOBILITY Inclusive, sustainable development of the urban landscape 4

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

37 SAINTE-JULIE A great place to live and work!

A WORD FROM THE PUBLISHER

PUBLISHER Jacques Boisvert JBC MÉDIA BY ROXANE PAQUET

EDITORIALS Gabrielle Brassard-Lecours, Andrée De Serres, Emmanuelle Gril, Johanne Landry and Marie-Hélène Paradis QUALITY CONTROL SUPERVISOR Johanne Landry TRANSLATION, REVISION AND PROOF-READING Neil Kroetsch PRODUCTION Supervision : Edith Lajoie Graphic design and layout : Carole Bordeleau pour Carbodesign

A EUROPEAN CITY IN AMERICA

jacques.boisvert@jbcmedia.ca

Advertisements : Lan Lephan PHOTOGRAPHS Denis Bernier and Roxane Paquet COVER PAGE PHOTO © Stéphan Poulin ADVERTISING Souk Vongphakdy Sales manager Montréal Québec 450 670-7770 418 317-0669 ADMINISTRATION Edith Lajoie Operations and Customer Experience Manager ACCOUNTING Catherine Faucher Philippe Bérubé CPA PUBLICATIONS POST Agreement no PP 41614528 RETURN ADDRESS 2120 Victoria Avenue, suite 140 Longueuil (Greenfield Park) QC J4V 1M9 SUBSCRIPTIONS abonnement@jbcmedia.ca www.jbcmedia.ca Legal deposits — Library and Archives Canada and Bibliothèque et Archives nationales du Québec, 2009 All requests for copies must be made in writing to the publisher. If your request is accepted, it must clearly indicate the source, as follows: From Villes d’avenir, Montréal Economic Powerhouse Edition. The name of the author or photographer must also appear. Please note that this magazine appears seasonally. Publication dates subject to change. ISSN 2293-8362

Villes d’avenir, Montréal Economic Powerhouse Edition is published by JBC Média inc.

In terms of its economy, the next few years look to be particularly promising for Montréal. But beyond the figures and statistics, I am convinced that the city will retain its unique style and signature as a great place to live, study, work, raise a family and to party. A human scale city that is multicultural and open to the world, Montréal is more than ever a European city right here in America! This 2020 edition of Montréal Economic Powerhouse shines the spotlight on the eastern districts of the city where the land available for development and a nearby labour force offer significant potential for economic growth. To explore the matter further, our journalist Johanne Landry met with the mayor of the Rivière-des-Prairies–Pointe-aux-Trembles borough, who is also the economic development consultant for the district and the director of the city’s Economic Development Service. With its four universities and other institutions of higher education, Montréal is a city of knowledge. It was thus a natural step for Mayor Valérie Plante’s administration to forge closer links with the educational milieu, a gesture that led to the establishment of three areas of intervention and to several projects pursued in partnership with educational institutions. Our journalist Gabrielle Brassard-Lecours provides details in this issue. You will also find other articles of great interest in this issue: real estate and labour mobility to ensure sustainable, inclusive development; the Greater Montréal delegation promoting the city at MIPIM; real estate opportunities for foreign investors; and integrating immigrants into the workforce, to name a few. The themes addressed reflect the reality and challenges that Montréal must confront in order to remain a welcoming and economically prosperous city.

President : Jacques Boisvert 2120 Victoria Ave., suite 140 Longueuil (Greenfield Park) QC J4V 1M9

Enjoy your reading!

Telephone: 450 670-7770 Toll free: 1 866 446-3185 Fax: 450 670-7771

Jacques Boisvert

info@jbcmedia.ca

Publisher

www.jbcmedia.ca

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

10-13 MARCH 2020 PALAIS DES FESTIVALS - CANNES, FRANCE

THE WORLD’S LEADING PROPERTY MARKET 26,800 real estate professionals 100+ countries 22,000 sqm exhibition area 6,380 investors 130+ conferences

MONTRÉAL EAST A NEW LOOK BY JOHANNE LANDRY, JOURNALIST

With land available for development and access to a large labour pool, trailblazers at the eastern end of Montréal Island want to exploit its potential for economic growth.

ontréal East is a sector where the stars are currently aligned for success, according to Caroline Bourgeois, mayor of the Rivièredes-Prairies–Pointe-aux-Trembles (RDP/PAT) borough and the economic development consultant for the district. Key players are mobilized, ranging from the City of Montréal and the provincial government to institutions, organizations, chambers of commerce and regular citizens, all of them working toward a common goal – kickstarting the area’s enormous potential.

STÉPHAN POULIN

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

A NEW LOOK

LOTS OF MANPOWER AND VACANT SPACE Extending from Pie-IX Boulevard to the eastern tip of the island, the sector counts some 20 million square feet of land available for development projects. Additional lots are yet to be decontami nated, but the process is well underway. The Québec Government is contributing $100M, and has earmarked an additional equivalent amount in its budget. "The land formerly occupied by the Esso oil refinery, for example, amounts to 10 million square feet," said Caroline Bourgeois. Groupe C. Laganière recently acquired 228 acres previously owned by Shell Canada in order to carry out the necessary decontamination and site restoration work. The 119 km 2 of the eastern part of the island is home to more than 12,000 firms and some 600,000 residents. "Many residential sectors are located close to employment zones, so there is a significant pool of manpower available," she added. There is existing economic activity with more under development, plus substantial capacity to welcome many more firms. What persists, however, is a negative image linked to its industrial past. Thus the focus on repositioning and creating a new identity. The objective is to attract not only nearby businesses, but also green or sustainable chemistry firms and companies working in the circular economy . "We have a lot of green space here and a good quality of life," said Ms. Bourgeois, who has always lived in the area. "Many sectors are near the banks of the St. Lawrence River or Rivière des Prairies, and people thus have exceptional access to waterways in an urban milieu." FLUID TRANSPORTATION The area is crisscrossed by major highways that facilitate transport, an important asset. Nonetheless, there are issues regarding the mobility of labour. The 2018 revitalization plan for the eastern parts of Montréal Island signed by the municipal and provincial governments calls for solutions such as a tramway linking Pointe-aux-Trembles to downtown

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

CITY OF MONTRÉAL

CAROLINE BOURGEOIS Mayor of the Rivière-des-Prairies–Pointe-aux-Trembles (RDP/PAT) borough and the economic development consultant for the district

Montréal along the Notre-Dame Street axis. How is that project coming along? "La Caisse de dépôt et placement was given the mandate to study modes of transport to improve labour mobility and is working on it as a priority," replied the mayor. There is a river shuttle service during the summer months (June to September), a 3-year pilot project that, in her opinion, has been a success. "Workers who live in the eastern end of the island can get downtown in 30 minutes, compared to an hour or more by road. Downtowners also come out to discover this end of the island. It is a much appreciated service." There is also the extension of the subway’s Blue Line, with five new stations being added in the Anjou borough. The extension is scheduled to be up and running by 2026.

Jobs Quality of life Greening Sustainable mobility

The East End Geared Up for Tomorrow Montréal is accelerating the economic development of its territories as part of the joint declaration made by the government of Québec and the city to revitalize the East End of Montréal. ville.montreal.qc.ca/gearuptheeast

A NEW LOOK

"We are also working in conjunction with the Société de transport de Montréal for a better structured bus service, as well as bicycle paths to ease transit for workers," said Véronique Doucet, Director of Economic Development for the City of Montréal. While these mass transit projects will eventually mean fewer cars on the road, congestion is nonetheless a problem across Montréal, including its eastern sectors. Ms. Doucet noted that congestionrelated costs amount to some $4.2G, according to recent statistics. "We are tackling the issue head on, with numerous actions taken to resolve these problems. Montréal East is strategically positioned. The Port of Montréal is the largest port in eastern Canada and thus a transportation corridor and a trans-shipment hub. We need to optimize that logistics corridor and upgrade its performance." The pilot project to turn Îlot Voyageur in downtown Montréal into a cargo distribution hub is one example. Trucks unload merchandise there, and the goods are then delivered by smaller zeroemission vehicles and cargo bikes. "The idea," noted Véronique Doucet, "is to bring the cargo to Montréal and then link together a distribution network that has a much smaller carbon footprint. We are living in a transformative period. E-commerce generates a lot of truck travel, but often trucks are not loaded to full capacity. Getting businesses to share transportation and thus make better use of vehicles is an avenue we are exploring." TALENT AND KNOW-HOW Recognized as a city of knowledge, given its 11 higher education institutions, Montréal’s colleges, universities and research centres are indeed a strong asset. Its Reinventing Cities plan actively involves universities and academia to help address the challenges faced by Montréal East. A major goal is to attract institutes of higher education to the borough and to offer a wide range of programs. "An important issue here is our low education levels, a situation we are anxious to improve. We want to offer skills and training suited to the needs of local employers. All universities and

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

CITY OF MONTRÉAL

VÉRONIQUE DOUCET Director of Economic Development City of Montréal

colleges are currently studying how to adapt our existing system of education, teaching and research so as to give it fresh impetus and accelerate the borough’s development," said Véronique Doucet. "Establishing a close, intense and concrete relationship between higher education and economic development is a first in the history of the city," she added. "We view development in Montréal East as a social project, the mobilization of different sectors all working toward the same goal and thus rejuvenating the region." ISO 14001 CERTIFICATION Several meetings with citizens and organizations were held to discuss the orientations proposed by the City for the Assomption Sud–Longue-Pointe

GETTY IMAGES BY MIRCEAX

sector that would attract new businesses, while also promoting sustainable development. The Public Consultation Office was drafting – at the time of writing – its report on the best ways of harmoniously developing this sector, which is bounded by Souligny Avenue, the Port of Montréal, the Longue-Pointe railway marshalling yard and Highway 25. "An industrial ecopark is an interesting project," noted Ms. Doucet. "We want to obtain ISO 14001 certification for an industrial area, which would be a first in North America. It is already an active employment sector, and there is vacant land to be developed in line with a vision that encourages the cohabitation of residential and industrial zones." Another proposal is to construct a road link, an overpass across Notre Dame Street linking the Port of Montréal and Assomption Boulevard.

"Generally speaking, the industrial parks of the 1950s and 1960s faced the problem of attracting and retaining staff in an area with a poor quality of life. Our vision of sustainable development is to ensure that firms that set up shop here have an environmental consciousness. It’s important for employees, and also for our view of the future development of Montréal East. We want to turn the perception of our historical petrochemical liability on its head," she insisted. Caroline Bourgeois added that "New industries have started to switch to an economy that is more focused on green chemistry and the diversification of activities."

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

MONTRÉAL, CITY OF INNOVATIVE PROJECTS BY MARIE-HÉLÈNE PARADIS, JOURNALIST

Municipal leaders are actively planning the city’s current and future growth, emphasizing sustainable development and quality of life. "From a real estate standpoint, Montréal has an enviable situation. What attracts firms to set up shop here are the city’s parks and green spaces and its public transit systems, soon to be augmented by a tramway and a new subway line," said Robert Beaudry, member of the executive committee and responsible for housing, real estate strategy, large parks and Jean-Drapeau park.

Montréal enjoys a healthy economic climate as well as an excellent reputation, positioning the city quite favourably in the real estate market. "Montréal has a number of advantages compared to other North American cities, such as its concentration of talent, its downtown universities, very dynamic colleges and technical institutes, and strong position in high-tech sectors such as artificial intelligence and big data. The city also stands out because it is affordable, has a skilled labour force and reasonably priced premises for sale or rent, and also has its own special energy and land available for future project development," he noted. There are many new projects being developed in the downtown core and other neighbourhoods, but does all that new construction respect the vision of civic leaders and their desire for sustainable development? According to Mr. Beaudry, when planning a station for the commuter train system Réseau express métropolitain (REM), a tramway for a particular neighbourhood, a BIXI bike rental site or a subway station, the emphasis is on TOD (Transit-Oriented Development). The mass transit sector must be accessible and developed to maximum density so that citizens enjoy a quality of life that reflects the municipal administration’s vision of current and future development. Montréal thus becomes fertile terrain for innovative projects. AN INNOVATIVE, INTELLIGENT MANUFACTURING DISTRICT One project that the city wants to develop, with a focus on accessibility and quality of life, is the upcoming Innovative, Intelligent Manufacturing District (QIMI), to be built on the site of the former NFB studios in Ville St. Laurent. Well situated near major highways and with easy access to the airport and close to a subway station, it will also be connected to the upcoming REM commuter train A40 station. The site is an ideal

CITY OF MONTRÉAL

ROBERT BEAUDRY Member of the executive committee and responsible for housing, real estate strategy, large parks and Jean-Drapeau park City of Montréal

candidate for a building redevelopment project and for QIMI innovative manufacturing. It is an industrial sector, but with its enclosed neighbourhood it is also a living environment. It has all the components necessary for transit oriented development, and could thus grow in such a way as to create an environment that is efficient for businesses and pleasant for citizens. "With a good concentration of diverse manufacturing, food processing and textile industries, small, medium-size and large firms will benefit from easy road access. We are committed to making that district a living environment as well as

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

A NEW LOOK

a place for industrial development. We submitted a proposal to the federal government to upgrade the former NFB site, which totals 200,000 square feet. We are still in the initial planning stages, but there is a lot of interest and private partners are getting on board," said Mr. Beaudry, adding that the city wants to make QIMI a showcase, a model for innovative manufacturers, as well as an integrated neighbourhood. The district will attract Industry 4.0 firms, more efficient, less wasteful factories with smart machines fuelled by data and machine learning. Theirs will be a much more understated presence than factories of old. "We want to renovate and upgrade the NFB building, and to include a centre for innovation and commercialization that will become a showcase for all sorts of automated manufacturing innovations. We’re a little behind in this area, as there is no place to share expertise or to experiment with certain new technologies. We want to pool resources so that smaller firms with no means of purchasing cutting edge automated manufacturing systems can also benefit from these new approaches," he added. EXEMPLARY RENEWAL Redevelopment will also give the district a new lease on life. "We have to face economic and social

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MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

issues head-on. We are discussing the possibility of adding affordable housing and subsidized apartments to the neighbourhood’s current housing stock. We must also offer services such as schools, community centres and other elements required for the smooth functioning of a neighbourhood. How can we offer citizens an attractive ambience and amenities, and thus ease the transition to the new model? That is our focus, to upgrade an industrial sector so that it can transition toward an environmentally responsible approach based on sustainable development. Montréal is a dynamic city, a great place to live, but it is also a transportation hub with direct access to 50% of the world population via its highways, rail system and airport. It also has a very interesting employment pool for import-export firms." OTHER DISTRICTS WITH REDEVELOPMENT POTENTIAL City authorities are considering other districts ripe for renewal, and the city’s east end is in their sights. In partnership with the Government of Québec, consultations will take place about rejuvenating areas like the east-end Assomption Sud industrial sector. "We want to make changes based on higher standards for sustainable development and ecological transition, as there are some serious problems to address," he concluded.

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REAL ESTATE OPPORTUNITIES

MONTRÉAL ON INVESTORS’ RADAR BY MARIE-HÉLÈNE PARADIS, JOURNALIST

Montréal enjoys an enviable reputation for its quality of life. It’s a great place to live, but what are the other factors that make the city attractive to foreign investors? To get an answer to that question, we interviewed three business leaders in Montréal’s property development industry. Regardless of their areas of expertise, the conclusion is the same: the ongoing economic growth of Montréal attracts investors.

est Countries Ranking 2019 not only confirmed the fact that Canada is the top country in the world for quality of life, but also that Montréal is the top city in the country in the field of education, due to its world renowned universities and colleges. The stars are thus aligned to make Montréal an unbeatable choice for discerning investors. Québec offers laudable political and economic stability, social equilibrium, an unemployment figure that is at its lowest rate in 40 years and low energy costs, in addition to having a rich, diverse cultural life. The many festivals, top-notch restaurants and also the fact that Montréal is a safe and secure city make it an exceptional candidate in a competitive market. According to Avi Krispine, Québec managing director of CBRE, the biggest commercial real estate agency in the world, the figures speak for themselves. "In the first half of 2019, real estate investments in Montréal reached a level never previously seen. We are about to shatter the 2018 record, which was $6.2 billion, or $3.6 billion for a six-month period. The average over the past five years was $2.2 billion for six months. That is a phenomenal growth rate of 63.6%."

CBRE

AVI KRISPINE

Québec managing director CBRE

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

THE ENVIRONMENT OF TOMORROW

IS NOW

2020 CONVENTION

May 20 to May 22

Palais des congrès de Montréal

R U O G N I N I F REDE : S K R A P L INDUSTRIA

umq.qc.ca/assises-annuelles

A H O W S E T M O WORKSHOP Y H R Y T I L A T VI ! M Y T A I Y L I 2 1 B , A 2 N 020 I A T S U S H T WI 2:30 PM

Studies of different real estate markets conducted by the Altus Group, a provider of advisory services and data solutions, also confirm that the Montréal market is burgeoning. "Economic indicators are trending higher, and Montréal is one of the top-performing cities in Canada. It is very attractive to people looking to obtain an interesting return on their investment," said Sylvain Leclair, executive vice-president for Québec. IDEAL CONDITIONS There are many indicators that determine how attractive a market is for investors, the main ones being the economy and the labour force. How does Montréal stand out in the eyes of real estate investors?

GROUPE ALTUS

SYLVAIN LECLAIR

Executive vice-president for Québec Groupe Altus

FONDS IMMOBILIER DE SOLIDARITÉ FTQ

RÉMI COUTURE

Financial analyst  Fonds immobilier de solidarité FTQ

Rémi Couture, a financial analyst for the pension fund Fonds immobilier de solidarité FTQ, also notes that the economy is doing well, particularly in many high-tech sectors. "Several new sectors are performing well, from artificial intelligence to video gaming and the service economy. There is an economic and demographic dynamism in Montréal at present and, compared to other Canadian cities, it is a more affordable city. Investing in Vancouver and Toronto has become quite costly and capitalization rates are low, whereas in Montréal, even though rates are low they appear moderate because the cost of labour is lower than in Toronto or Vancouver, and rental costs are very reasonable. Conditions are thus favourable for investing and getting a good rate of return on your capital outlay. That is not the case in other Canadian provinces where things have tailed off." In addition to economic indicators, which speak for them selves, another factor that is very important for investors is the quality and availability of the labour force – its training, skills and cost – and there Montréal is in a very favourable position, as a CBRE study indicated. "Our workforce has a good reputation. The only challenge is finding talented workers outside Montréal who speak both French and English. Montréal’s universities and technical colleges have an international reputation. There is a lot of talent; it’s an embarrassment of riches," noted Mr. Krispine. Québec is renowned for workers and students who are well versed in high-tech, a sector that is becoming increasingly important and is of strong interest. Montréal is a French-speaking city but its workers also speak English, which is a plus. Carole Handfield, vicepresident, Investments at Fonds immobilier de solidarité FTQ, added that "Another advantage of Montréal we don’t often think about is that it is completely bilingual. Everyone at the table can converse with foreign investors, which is a very positive asset."

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

REAL ESTATE OPPORTUNITIES

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MONTRÃ&#x2030;AL ECONOMIC POWERHOUSE : : 2020 EDITION

In Québec in recent years there have been substan tial investments in infrastructure. All stakeholders agree that the low benchmark interest rate and government investments in infrastructure are reassuring, and are an additional factor in making Montréal attractive to investors. The Réseau express métropolitain (REM) commuter train network now under construction is the most important trans portation infrastructure after the subway. "When investments in public transit are visible, as is the case with work on the new REM network, investors see many opportunities for development. Those investments instill confidence," said Rémi Couture. Ms. Handfield added that "development projects like the REM have positive impacts on the urban lifestyle. We seek to create a diverse social mix, outstanding living environments and mobility when developing real estate projects." Mr. Couture notes that Montréal is also a natural logistics hub for North America. It has a port, an airport and several train stations. For the import-export industry, it provides exceptional access to the north-eastern U.S., as well as the American Midwest. A CONSTANTLY EVOLVING MARKET It goes without saying that the Montréal market is expanding because of the city’s vigorous economic growth. The net vacancy rate for office and com mercial rentals, which is much lower in Montréal than elsewhere in Canada, also attracts investors. Compared to other Canadian cities, Montréal stands out when the time comes to rent office space. Avi Krispine has seen its impact. "In Toronto and Vancouver, our competitors in Canada, it costs more than $40 per square foot to rent downtown office space. In Montréal it costs between 9 and 36.8% less than in those two cities. Renting industrial space in Toronto is 28% higher and in Vancouver 52% higher than it is here. There has been a 28.7% increase in office space for sale in Montréal, and sales of retail space have risen by 30.5%. On the other hand, there is a scarcity of land and industrial product for sale in the current market." Sylvain Leclair notes that despite what one might think, the multi-residential market is not saturated and is doing well. Its very acceptable vacancy rate of 2% does not reflect an oversupply. At the national level Vancouver, Toronto and Calgary have for a long time captured the lion’s share of investments, but now Montréal is part of the privileged group of sought-after cities, observed

FONDS IMMOBILIER DE SOLIDARITÉ FTQ

CAROLE HANDFIELD

Vice-president, Investments Fonds immobilier de solidarité FTQ

Sylvain Leclair. "The scarcity of available land, rising rents and higher construction costs due to a shortage of skilled personnel, all those are factors also taken into account, but on the whole the value of investments is increasing significantly." He added that "as soon as a property comes onto the market, be it office, multi-residential or indus trial space, the yield is impressive. There used to be little activity in the industrial market. Even if industrial product was available, it was considered as a second or third category product. Now it is a highly rated sector. The vacancy rate has dropped by half, rents have increased and there is potential for a very interesting return for investors. Even the hotel sector is on the upswing. Those experiencing the most difficulty, such as retail businesses, are repositioning. We are looking, for example, at building condos or residences for senior citizens that incorporate retail businesses and thus create added value, but it means greater risk for investors seeking high yields."

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

REAL ESTATE OPPORTUNITIES

As regards a higher return on investment, key considerations are the constantly rising costs of buying or renting plus low availability, and thus their influence on the market. "There is indeed pressure but it is the local market creating that pressure, not foreign investors," said Jacinthe Lachapelle, head of the research team and a sales analyst at CBRE. When investment conditions are good, capital remains available – pension funds, private invest ment funds, lenders – those with money to invest. That creates a slightly overheated market but also generates a lot of interest. Moreover, foreign investors face no barriers or restraints in Montréal, compared to the Vancouver and Toronto markets. Unlike those two cities, Québec does not impose a tax on foreign buyers to make the housing market more affordable for local residents given that, for the moment, Montréal is not an overheated market. Whether investors come from Canada, the United States, Europe, Germany, Korea or Saudi Arabia, the market is opening up more and more, notes Avi Krispine. That phenomenon prompted Carole Handfield’s observation that "foreign investors are now knocking on the doors of the Fonds immobilier de solidarité FTQ. While many investors now come from Ontario and France, the German and Swedish markets are also considering investing in Montréal. Ours is a safe city to live in, has a very attractive urban lifestyle and, in Montréal, the living is easy."

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MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

JACINTHE LACHAPELLE

Head of the research team and a sales analyst CBRE

According to experts at the International Monetary Fund and a report it published in 2018, Montréal’s openness and the global synchronicity of its progress are symptoms of an increasingly open financial sector and an increasingly integrated world. Globalization has thus had an impact on this economic sector. Montréal is not the only city to benefit from this state of affairs, but its intrinsic qualities make it an exceptional and highly competitive candidate that is only now beginning to be recognized as such. "The Québec economy has not been this vigorous in at least 30 years, and I have the impression that it will continue, which means that interest in Montréal real estate properties will also continue. Montréal has a lot of potential. The interest is there, and it won’t disappear," stated Sylvain Leclair. Montréal is a sound investment, with a constantly evolving market, coupled with a dynamic economy and a skilled workforce. It will continue to attract investors.

GREATER MONTRÉAL DELEGATION

PROMOTING MONTRÉAL AT MIPIM 2020 BY EMMANUELLE GRIL, JOURNALIST

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In March, some thirty real estate industry firms will make their way to the International Marketplace for Real Estate Professionals (MIPIM) as part of the Greater Montréal Delegation. Their mission: to sing the praises of Montréal during this international event, while also taking note of major trends and networking with investors and promoters.

or the past few years the City of Montréal and a group of Montréal firms have had a kiosk at MIPIM. In a new formula inaugurated this year, the Greater Montréal Delegation will be working with the City of Montréal’s Economic Development Service, in partnership with the Fonds immobilier de solidarité FTQ. "The five goals of our 2018-20 economic develop ment strategy include a desire to showcase Montréal internationally. The presence of the Greater Montréal Delegation at MIPIM is part and parcel of that objective," noted Véronique Doucet, director of the city’s Economic Development Service. VÉRONIQUE DOUCET Director of Economic Development City of Montréal

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

MIPIM’S DELEGATION

"Our kiosk allows us to promote the attractions and benefits of doing business in Montréal, from development opportunities to the city’s many diverse economic sectors," said Josée Chiasson, director of economic cluster development for the city’s Economic Development Service. She works with 35 industrial firms and real estate players – builders, promoters, innovative manufacturers, major organizations – thus a force to be reckoned with. Normand Bélanger, president and general manager of the Fonds immobilier de solidarité FTQ, pointed out that the pension fund has been a regular and active participant at MIPIM for the past 10 years. "For the 2020 edition, it was a natural evolution to join forces with the City of Montréal so as to encourage a wide pool of Québec entrepreneurs to attend this large-scale trade fair. This very inspiring international convention helps us become aware of and anticipate market trends in the real estate industry and to discover new ways of doing things," he added. MONTRÉAL’S ECONOMIC DEVELOPMENT SERVICE: PROMOTING THE CITY AND ITS INDUSTRY AND COMMERCE In pursuing its economic development strategy, the City of Montréal is going all out to make the city’s centres of excellence a dynamic force that stands out in a wide range of economic sectors. It actively supports innovation, creativity and economic development. The City is also a sought-after partner for firms that wish to raise their profile locally and also internationally. In that respect, the Delegation’s kiosk at MIPIM is indeed a high calibre platform for various players in the real estate industry. "The formula adopted this year is designed to create synergy among the different participants, while

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JOSÉE CHIASSON Director of economic cluster development for the city’s Economic Development Service City of Montréal

also offering them a personalized corporate concierge service that includes structuring activities that allow them to create maximum added value and generate positive spinoffs from the event," said Josée Chiasson. Véronique Doucet noted that the city also has lots to offer to investors, another focus of the Montréal delegation. "Montréal has a rich ecosystem with a diversified and resilient economy, in addition to being a dynamo in many innovative and leading edge sectors. There are currently 24 billion dollars’ worth of construction projects underway in the city. It is a strong sign that indicates that Montréal is a hot spot, ready to swing into action!"

JBC MÉDIA BY DENIS BERNIER

NORMAND BÉLANGER President and general manager Fonds immobilier de solidarité FTQ

ROGER PLAMONDON President of the firm’s real estate sector Broccolini

FONDS IMMOBILIER DE SOLIDARITÉ FTQ: AN IMPORTANT PARTNER The Fonds immobilier de solidarité FTQ invests capital in development projects all across Québec and in all real estate sectors. It is a major player whose role complements that of financial institutions. "We invest in real estate projects at the start-up phase, from the acquisition of vacant land to construction. Promoters need partners of our calibre and scope to support them in their projects, which generally take a few years to complete and require injections of substantial sums throughout the process," explained Normand Bélanger, who mentioned that banks usually demand that 50 to 60% of a project be presold, before consenting to a construction loan.

BROCCOLINI: EXTENSIVE AND DIVERSE EXPERTISE Renowned for the quality and diversity of its projects, Broccolini makes a sizeable contribution to Montréal’s international profile, Roger Plamondon, president of the firm’s real estate sector admits. "We are now a strong presence in several spheres of activity, from the retail sector to the industrial sector by way of office buildings and residential construction. We build high density, mixed use projects. We are well acquainted with the realities of downtown Montréal and are on good terms with municipal authorities. We have extensive and diverse expertise, which makes us a very interesting partner for foreign investors," he said.

The theme of MIPIM 2020, The future is human, is perfectly in line with the objectives of the Fonds immobilier de solidarité FTQ. "We want to exert more influence at the start-up phase of major projects, offering a mix of socially acceptable and environmentally responsible products that meet human needs. As part of our mission and our values, 15% of our investments are allocated to social housing, plus community and affordable housing. We actively participate in discussions on cities and urban development, and our ambition is to become a major influencer in the industry," added Normand Bélanger.

He pointed out that the firm has been in business for 70 years, which is quite rare in this highly competitive industry. Broccolini also adheres to strict, transparent standards of governance, which reassures the most demanding of potential associates. "Our vertical integration model, where everything is under the same roof – investment, construction, management, etc. – is also unique in our industry. It is a distinguishing feature of our brand," noted Mr. Plamondon.

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MIPIM’S DELEGATION

LUC MAURICE President and founder Groupe Maurice

He mentioned that the company was part of the Greater Montréal Delegation at MIPIM, and views that as a golden opportunity to keep abreast of new trends and all sorts of innovative ideas. "It is also a great place for networking with groups that might be interested in working with us to develop new projects in Montréal." GROUPE MAURICE: LEADER OF A DISTINCTIVE INDUSTRY "Over the past 20 years we have pursued a simple philosophy: the client is the boss. Clients are of course older and are looking for more services and peace of mind, but that goal should never be pursued to the detriment of the quality of their living space and their environment. That, in essence, is our goal, to give them the very best," stated Luc Maurice, president and founder of Groupe Maurice. "That philosophy is the basis of our success and, in my opinion, that of other Québec contractors who build housing for elderly residents." And that is no idle boast. Senior citizen residences built by Groupe Maurice have an occupancy rate of more than 98%, one of the highest rates in North America.

GROUPE ALFID SUCCEED IN GOOD COMPANY 500, Place D’Armes - Suite 1500, Montréal (QC) H2Y 2W2 T. 514.282.7654 // alfid@alfid.com // F. 514.282.7495 www.alfid.com // www.alfidlouer.ca

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

For Groupe Maurice, being part of the Québec delegation at MIPIM 2020 is a chance to not only be inspired by best real estate development practices from all over the world, but also to promote the different and very distinctive elements of the Québec housing model for senior citizens. "We develop projects in an urban milieu, close to shops and community and cultural services, offering an integrated and distinctive lifestyle. We create residences that older people choose to go to, rather than going there simply because there are no other options," said Mr. Maurice. "That’s the secret to our success in Québec. And another thing I’m sure of is that we can be as successful elsewhere on the planet, and would be more than happy to jump into new markets."

DARIO MONTONI President Montoni

DEBBY DOKTORCZYK President McGill Immobilier and Engel & Völkers

MONTONI: A PEOPLE-CENTRED APPROACH With a project as ambitious as Espace Montmorency – the recent purchase of 1.2 million square feet of land at the former Molson Brewery in order to build a park and a redevelopment project that incorporates business, commercial, tourist and residential needs, plus an attractive urban lifestyle – Montoni is undeniably on a roll. President Dario Montoni noted that from that perspective, the firm’s presence at MIPIM (for the fourth year in a row) is very timely. "We want to talk with other industry players and see how other European cities are developing real estate projects," he said. Thanks to an agile style of management that combines expertise, innovative design, technology and sustainable development, Montoni feels that it is much more than a simple contractor-promoter. "We are acutely aware that we must pay attention to and be attuned to not only the environment, but also building sustainability and longevity. We centre our approach on people, not just brick and mortar. In other words, we place great importance on the well-being of the occupants in the buildings we erect." In that regard, technology can play a crucial role, which is one of the reasons why the firm set up a division focussed on technology. "Artificial intelligence contributes not only to maximizing the comfort of the people who live and work in our buildings, but also helps to reduce our carbon footprint and to consume energy more intelligently," explained the president. Take, for example, pre-programmed heating, ventilation and lighting systems that turn on automatically the moment an employee arrives in his or her office. There’s no doubt that Montoni is a visionary firm!

PATRICE GROLEAU Owner McGill Immobilier and Engel & Völkers

MCGILL IMMOBILIER AND ENGEL & VÖLKERS: LEADING EDGE REALTORS The economic indicators are very positive for Montréal and Québec. Patrice Groleau, owner, and Debby Doktorczyk, president of the McGill Real Estate agency and the luxury real estate giant Engels & Völkers, Montréal/Québec, were eager to discuss their participation at MIPIM. "Because it’s a significant international event where major players in the real estate industry get together, it makes a great deal of sense for us to attend. We consider ourselves to be real estate ambassadors. Our objective is to sell Montréal and Québec, and we have the all the expertise, market data and statistics to assure investors," he said. Their extensive knowledge of real estate trends gives them a leading edge and makes them a precious ally for investors. That expertise is based on the very strong presence of McGill Real Estate in sales of prestigious new condos and of Engel & Völkers in high-end real estate. "We have sold over 10,000 condos and at the moment have some thirty projects for sale, i.e. 3,000 condos. That’s almost 25% of the condo market for 2020! Our unique position and knowledge mean we can anticipate trends," added Mr. Groleau.

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MIPIM’S DELEGATION

He also mentioned that 20% of people purchasing real estate in Québec were foreigners, which shows how much the market is evolving and diversifying. "Often foreign investors are not familiar with the Montréal market, unacquainted with the nuances of the Montréal and Québec contexts. We are the Gauls of America! We thus have solid expertise that can make all the difference, which makes us irreplaceable partners for real estate promoters and investors." BRIVIA GROUP: MAKING REAL ESTATE DREAMS COME TRUE Kheng Ly came to Canada 30 years ago with a dream: becoming an entrepreneur. He set up the real estate investment and development firm Brivia Group in 2000. The company entered the downtown residential development market in 2011, when it purchased a lot on Boulevard René-Lévesque Ouest, which now is the landmark property YUL Condominiums. Since then, the company has developed over 2,000 residential units in the greater Montréal area. "Every project has its own character and its own set of challenges and opportunities," says Kheng Ly, President and CEO of Brivia Group. "However, if I had to pick an achievement for 2019, it would be 1 Square Philips, which will become the tallest residential building in the city with breathtaking views. This 61-storey-high tower reaching 232.5 metres will certainly leverage the Montréal skyline and bring it to a whole new level in terms of quality for residential high-rise buildings in Montréal." Brivia Group has 15 developed and under develop ment projects in and around Montréal and Québec City, as well as an upcoming resort project in MontTremblant, and a multi-residential pipeline project in the Greater Toronto area.

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KHENG LY President and CEO Brivia Group

As busy as he is, Kheng Ly is committed to giving back to society and making a difference, especially in the lives of young entrepreneurs and members of the communities. He’s involved in various significant business organizations and hospital foundations, and also acts as a cultural ambassador for the Chinese community. "Our four core values are integrity, transparency, shareholder value, and accountability," he says. "In our day-to-day operations, what I value the most is our people and team work. They are the engine of Brivia Group and masters behind each of our projects."

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UNIVERSITIES AND THE CITY OF MONTRÉAL

A NATURAL ALLIANCE BY GABRIELLE BRASSARD-LECOURS, JOURNALIST

With its four universities and other institutions of higher education, Montréal is a city of knowledge. It is thus quite natural that Valérie Plante’s administration is forging strong links with the educational milieu so as to use that know-how to improve services provided to citizens, and to resolve problems and overcome obstacles.

Some agreements were signed between the City and educational institutions in the past, but in the last eighteen months concrete work has been underway to raise the prestige of higher education," said François Croteau, mayor of the Rosemont–La Petite-Patrie borough. He is the person in charge of smart city, technology, information and innovation files for the City of Montréal executive committee. The Plante administration has initiated discussions to generate ideas and possible solutions in order to highlight three main areas of intervention that are to be a top priority: talent, knowledge and improving citizen services using an evidence-based approach. With that emphasis, several projects have taken shape in partnership with 12 educational institutions and departments of higher education in Montréal.

JBC MÉDIA BY DENIS BERNIER

FRANÇOIS CROTEAU Mayor of the Rosemont–La Petite-Patrie borough, in charge of smart city, technology, information and innovation files for the City of Montréal executive committee

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UNIVERSITIES AND THE CITY OF MONTRÉAL

KEEPING TALENT HERE Thanks to collaboration with the Maison de l’inno vation sociale, students at Concordia University, working with municipal employees, have taken on the challenge of tackling Montréal’s urban problems through the CitéStudio project. Created by the municipal Parks and Sports Service, the city’s Parks and Biodiversity Management branch and the Department of Communication Studies at Concordia University, it seeks answers to an important question. "How can we identify, understand and increase the diversity and surface area of the urban canopy?" Another area of interest is to make the city’s most dangerous intersections safe, secure and pedestrian friendly. That matter is being pursued jointly by the municipal City Planning and Mobility Service and the departments of Geography, Planning and Environment and Mechanical, Industrial & Aerospace Engineering at Concordia.

More than 25 pilot projects are being developed at CitéStudio, which has access to six courses at Concordia University, 150 students from various departments and eight professors who teach classes that touch on the challenges being pursued by CitéStudio. "Given that it is part of their training, it serves as a practical apprenticeship that on the one hand supports students in their work, and on the other helps to keep talent here in Montréal by showing undergraduate students how their studies and research can have an impact in helping to improve the city," mentioned François Croteau when discussing CitéStudio, which is based on a similar model established in Vancouver. In addition to that laboratory, the City has also launched a call for projects based on specific problems targeted by its municipal services. The university teams selected will receive grants to help them develop their projects in concrete terms.

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MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

The Projet Montréal municipal party is also working on facilitating internships and work experience projects in its administration. "Internships are a very good way of getting to know the city, and often trigger a desire to work for the city. Internships are currently arranged by municipal services and borough offices, in somewhat scattershot fashion. We would like to arrange them through a single entity, with a complete list of all the internships available so that candidates apply to that single office. We also want all students in Montréal to have access to that list, not only students in a few university departments or study programs. We want to democratize access to municipal internships," added François Croteau. JBC MÉDIA BY DENIS BERNIER

PROMOTE KNOWLEDGE François Croteau noted that knowledge and research are fundamental elements of Montréal’s dynamism, and declared that the city intends to promote that aspect, especially since Montréal was voted the best student city in the world in 2019. He explained that the city is working with other cities such as Nantes in France, where collaboration between civil servants and universities is an integral part of the culture. "I wish it were like that here also," he said. He added that his party has noted that Montréal has already dispersed $14 million over the past seven years in direct financing on university research. "Those funds helped to develop several research projects and to draft solid recommendations to help Montréal provide better services to its citizens. It’s one of the ways we can promote knowledge." The City of Montréal has set up a working group consisting of directors of universities and technical colleges, its purpose being to establish a joint strategy for targeting priorities and effective ways of working, and to pinpoint each school’s strengths. A lot of work has been accomplished, thus facilitating follow-up among various municipal services and research chairs, Mr. Croteau explained. IMPROVING CITIZEN SERVICES "We would like to use an evidence-based approach more often so that making decisions and improving services are attuned to reality, facts and data," said the man in charge of Montréal’s smart city, technology, information and innovation files.

To that end, he described the Séri Montréal program. An initiative of the municipal Economic Development Service, it aims to establish connec tions among experts from the worlds of business and academia so that new projects can emerge. This involves get-togethers, brainstorming sessions, meetings of small groups, etc. The first theme to emerge from this project was the environment. "It was fascinating to see the solutions that were proposed," noted Mr. Croteau. Here also, grants are offered to students who come up with specific solutions for improving citizen services. Mr. Croteau was recently appointed to a new "science and politics" committee. Its objective is to improve links between politics and research, with assistance from partners such as the Association francophone pour le savoir (ACFAS) and the Bureau de coopération interuniversitaire (BCI). "Our courses of action are numerous and cover many areas: sports and leisure, architecture, water management, etc. I have the privilege of being at the centre of concrete action involving science and politics. I want these projects to succeed; it’s my personal mission." He feels that the City of Montréal initiatives could one day inspire other university cities in Québec to also create more links to research.

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UMQ REPORT

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MANPOWER IN GREATER MONTRÉAL

WANTED: JOB CANDIDATES REPORT BY EMMANUELLE GRIL, JOURNALIST

The Québec economy is rolling full steam ahead, and things are looking up! What that means, though, is a shortage of manpower in most regions, and Montréal is no exception.

ith a historically low un employment rate, Québec is almost in a position of full employment. While the rate is slightly higher in Montréal, the fact remains that from November 2018 to November 2019, 46,300 jobs were created in Greater Montréal, which represents an increase of 4.3%. A total of 1.1 million people are working in an active population of 1.2 million. But job candidates do not always measure up to par, and more and more firms are experiencing difficulty recruiting the employees they need for their future growth and development. A nice problem to have, but one that gives recruiters headaches. ALL SECTORS AFFECTED This state of affairs was confirmed by Suzanne Roy, interim president of the Québec Union of Municipalities (UMQ) and mayor of the town of Sainte-Julie. "Many companies have had to slow down their expansion, due to a lack of human

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SUZANNE ROY Interim president of the Québec Union of Municipalities (UMQ) Mayor of Sainte-Julie

resources. There is also the phenomenon of firms reducing their hours of business because they lack personnel," she said. Denis Martin, president of the UMQ’s Economic Development Commission and mayor of Deux Montagnes, added that in 2018 there were 40,000 unfilled job positions in Greater Montréal, twice the number for 2014. All sectors of the economy are affected. Firms are seeking people with university degrees and college diplomas, as well as high school graduates. Even people with few qualifications and no training are being targeted by employers. Mr. Martin noted their employment rate rose by 4%, with 30% of the positions to be filled at present requiring no diploma or special training. The situation is also creating pressure to raise wages for workers with little education. PROMISING LABOUR POOL In these conditions, immigrants are an interesting labour pool for employers. In order to attract candidates, many organizations recruit overseas. In January 2019 the UMQ attended the Salon du travail et de la mobilité professionnelle in Paris. "Our kiosk attracted a lot of traffic, and we received about 1500 résumés," noted Suzanne Roy. Denis Martin mentioned that every year the Greater Montréal region welcomes approximately 86% of new immigrants to Québec. "As a large urban centre it offers a number of attractions for newcomers." Many ethnic communities are well established in the city, which facilitates acclimatization and integration of people coming from abroad. "Much of successful integration into a new culture occurs in the workplace. Even though there is a labour

DENIS MARTIN President of the UMQ’s Economic Development Commission Mayor of Deux-Montagnes

shortage in all regions of Québec, Montréal offers many interesting opportunities for newcomers," said Mr. Martin. The UMQ is working closely with the government to simplify the administrative procedures involved for those who wish to emigrate to Québec, and for employers who want to hire foreign workers.

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UMQ REPORT

NEW IMMIGRANTS

HELPING NEWCOMERS FIND EMPLOYMENT Every year the Greater Montréal region welcomes 86% of new immigrants to Québec. The city remains an attractive magnet for newcomers.

nd there is plenty of work – over 40,000 job openings in Montréal in 2018! In order to find employment, newcomers must spend the time and effort required and overcome certain challenges. But their situation is improving, even though the job market is tightening up and a shortage of labour is affecting many sectors across Québec. BETTER WORKFORCE INTEGRATION While there is usually a higher rate of unemployment among immigrants than among native-born Canadians, that discrepancy has been diminishing in recent years. According to a recent study by the Institut du Québec, the unemployment rate for immigrants aged 25 to 54 fell to 6%, whereas the Québec average was 5.6% (data for September 2018). The employment rate is also quite positive, having climbed almost six percentage points in 10 years, to reach close to 78% in 2017. Even immigrants who have been here less than five years have benefited from that surge. Their employment rate went from 58% in 2007 to approximately 66% in 2017. Ahmed Sahboun, director of Employment and Immigrant Services for Clé pour l’intégration au travail des immigrants (CITIM), has also taken note of that upturn. "Even though it is on a case by case basis, generally speaking immigrants are discovering that it is easier to find a job now than it was before, whether they are permanent or temporary residents," he said. Of the 1800 people who use CITIM’s services every year, he estimates that approximately 83% manage to find employment. Better yet, 40% find a job in their field of expertise or in the sector they were aiming for. The CITIM provides resources and services for immi grants to help them integrate into the workforce, offering support and guidance, training, job search tools, networking events, etc.

AHMED SAHBOUN Director of Employment and Immigrant Services Clé pour l’intégration au travail des immigrants (CITIM)

CHALLENGES Mr. Sahboun stated that he was impressed by the high level of preparation among immigrants who make use of CITIM services, and also admired their perseverance and ability to develop job search strategies. "When they are supported by an organization like ours with our various resources and tools, they succeed rapidly," he said. Nonetheless, foreign candidates face challenges, depending on their individual situations. These challenges range from learning a new language to obtaining official recognition of skills and diplomas.

1. Institut du Québec (2018). Mise à jour et clarification des données sur l’immigration et le marché du travail. La situation s’améliore, mais certains défis persistent. Available at: https://www.institutduQuébec.ca/docs/default-source/default-document-library/201809miseaupointimmigration9c54454ac9186762bc5eff00000592ac.pdf?sfvrsn=0.

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"In regulated and licensed professions – professions with reserved titles – the path to becoming a member of a professional order can be long and arduous. We assist them in making their way through the requisite procedures," added Ahmed Sahboun. Moreover, having professional experience in another country can help their successful integration into the workforce. The individual must be aware, however, of the differences in the Québec market and understand the expectations of local employers, as that will help facilitate the transfer of skills.

still here in 2015, a marked improvement given that the retention rate was only 75% in 2000. With many older workers opting for early retire ment and an active population that is decreasing in size, the integration of immigrants into the workforce is more than ever a necessity if Québec is to continue to grow and develop. They represent a valuable asset indeed.

To simplify the workplace integration process, Mr. Sahboun recommends to future immigrants that they get as much information as possible before departure and prepare as much as possible beforehand, e.g. drafting résumés and employment queries, contacting professional orders, etc. "Once they arrive here, it’s important not to remain isolated and cut off, but on the contrary to seek out necessary resources; there are many available. Get information from people who have the requisite expertise, at aid agencies for example," he suggested. Perseverance is a must and efforts are generally rewarded, as statistics indicate. The Institut du Québec study demonstrated that 84.3% of immigrants who arrived in Québec in 2010 were

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MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

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Laval

In a context of strong economic growth, the City of Laval has assigned a support team for all employment activities within its territory.

he Laval economy is quite diversified," noted the city's mayor Marc Demers, mentioning the strong presence of several sectors: retail, including one of the largest shopping centres in Canada; Biotech City with many big pharmaceutical companies and research institutes employing over 5000 people; aerospace firms; the knowledge sector with the campuses of the University of Montréal and UQAM; an expanding institutional sector; a large hospital. In short, the 12,000 firms established in Laval offer many diverse employment opportunities not only for professionals but for workers of all sorts.

CITY OF LAVAL

"Our economy is dynamic, with a performance well above the Québec average. According to a recent Desjardins Economic Studies report, that strong performance will continue again this year. We are also well situated on Montréal's northern

CITY OF LAVAL

A GROWING CITY THAT ATTRACTS BUSINESS AND WORKERS MARC DEMERS Mayor of Laval

ring, where the movement of people and goods is easier than on the Island of Montréal. Our demographic growth curve is impressive. We foresee a 22.4% increase in our population from 2016 to 2041. That is higher than the 13% projected for the rest of the province, according to government forecasts," he said, adding that the Laval workforce is multicultural, bilingual and well educated, 52% of its citizens have a postsecondary diploma or degree. RECRUITING AND RETAINING TALENT "The municipality has all the key partners required to support the productivity and growth of our economy. The services offered by the city include a seasoned team in our Economic Development Service that is entirely dedicated to skilled worker recruitment and international labour mobility," said Mr. Demers. He described an ecosystem focused on recruitment, promotion, international labour mobility, employability, worker integration, professional training, and college and university education. The mayor recounted a joke that he usually tells to people attending opening ceremonies for businesses newly established in Laval. "I tell them that we are going to do everything possible to tie them down by providing to their employees a family-friendly place to live, whether in terms of the environment, culture or sports, features so attractive that their employees will never want to move. Consequently, the businesses are condemned to remain in Laval. That’s the strategy we're pursuing," he concluded. In fact, Marc Demers regularly visits companies, businesses and institutions so as to better understand their needs. n

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Sainte-Julie Free activities for the entire family Numerous parks, green spaces and bicycle paths 4 industrial parks Close to MontrĂŠal and Longueuil

ville.sainte-julie.qc.ca

A Great Place to Live and Work!

Sainte-Julie

A GREAT PLACE TO LIVE AND WORK! With over 30,000 residents, the city of Sainte-Julie has a lot to offer. This South Shore municipality stands out for its dynamism and outstanding quality of life.

lose to both Montréal and Longueuil and ideally located at the intersection of Highways 20 and 30, Sainte-Julie offers the benefits of a large urban centre, but with no inconvenient aspects. "We are not a place of transit, but an environment where people can grow up, live well and grow old – in other words, go through all the stages of life. We are also recognized as a Child Friendly Municipality and a Senior Friendly Municipality," noted Mayor Suzanne Roy. Its human dimension, activities and free outdoor shows and events delight young and old alike.

CITY OF SAINTE-JULIE

The city emphasizes sustainable development supported by an ambitious environmental plan, and indeed Sainte-Julie has several nature parks and green spaces. It also received the highest rating awarded by the Fleurons du Québec corporation for the quality of its landscaping, parks and horticulture.

SUZANNE ROY Mayor of Sainte-Julie

EMPLOYMENT OPPORTUNITIES Its attractiveness is also based on economic development. "We have embarked on a transitoriented development (TOD) project at the city entrance, a multi-use district that will encourage people to use mass transit. It will be a place where residents can easily access services, transit and shops on foot. The first phase is nearing completion, and the second is being rolled out as we speak," said Suzanne Roy. Besides a Park & Ride lot and a covered bike station, it will also feature local shops, services and mediumsized businesses, as well as rental apartments and assisted living units, thus creating an appealing mix of uses and clienteles. "Sainte-Julie also has seven public transit routes within its territory, in addition to three taxi-bus routes, which are free of charge," she added. Four industrial parks are home to numerous firms in a wide variety of fields (high technology, research and development, manufacturing, etc.), which generates a good employment pool. "Sainte-Julie has set up an employment bulletin board that displays jobs posted by firms seeking employees. A great variety of jobs are available in diverse areas: engineers, accountants, clerks, labourers, etc. There's something for everyone!" Working together with the regional county municipality, Sainte-Julie has adopted an intervention strategy to help businesses recruit workers. The approach includes training, employability support and missions abroad to recruit the skilled workers the municipality needs to pursue its growth and development. n

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REAL ESTATE + MOBILITY

INCLUSIVE, SUSTAINABLE DEVELOPMENT OF THE URBAN LANDSCAPE BY ANDRÉE DE SERRES, PH. D., IVANHOE CAMBRIDGE REAL ESTATE CHAIR, SCHOOL OF MANAGEMENT, UNIVERSITY OF QUÉBEC AT MONTRÉAL (ESG UQAM)

Climate change, migration, densification and new forms of mobility are all phenomena that oblige us to urgently rethink and implement inclusive, sustainable development of the urban landscape, and to adopt an ecosystems approach that is closely intertwined with real estate projects and sustainable mobility.

ll major cities face important issues in their response to climatic, demographic, social, environmental and economic challenges. These include a growing population, urban sprawl or densification, develop ing and maintaining infrastructures and services, and implementing measures to adapt to, attenuate or reduce greenhouse gas emissions (GHGs). Generated to a great extent by industrial activities and the movement of people and goods, GHGs disturb not only the climate, but also adversely affect the physical and psychological health of citizens. Buildings are major traffic-generating centres, with people moving back and forth from home to work, or clients and users coming to shop or for leisure activities, health care, education, etc. Since building location and use shape the morphology of neighbourhoods as well as traffic patterns, it is important to reflect on the role of real estate actors in the co-construction of improved mobility and sustainable neighbourhoods.

How do we evaluate the reciprocal impacts, positive and negative, of real estate and mobility projects? How can we better integrate mobility into real estate projects and achieve inclusive, sustainable development in our cities? MANY HEADS ARE BETTER THAN ONE In an effort to find answers and to propose innovative solutions, the Ivanhoe Cambridge Real Estate Chair at ESG UQAM joined with Michelin’s Movin’On Summit to present on November 4, 2019 a Real Estate and Mobility symposium (Immobilier + Mobilité: pour un développement durable et inclusif des territoires en milieu urbain) at the Jacques Parizeau Building in Montréal, headquarters of Ivanhoe Cambridge, a subsidiary of the Caisse de dépôt et placement du Québec. Part of the 32nd annual Entretiens Jacques Cartier event, which this year celebrated 40 years of friendship between the cities of Lyon and Montréal, the symposium brought

1. See: https://ivanhoecambridge.uqam.ca/fr/non-classe/immobilier-mobilite-pour-un-developpement-durable-et-inclusif-des-territoires-en-milieu-urbain

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

DENIS BERNIER

together members of the real estate sector, municipal authorities, mobility experts and providers of essential services. Discussion was aimed at rethinking traditional ways of doing things so as to come up with innovative means of redeveloping urban neighbourhoods to make them more agile, sustainable and inclusive. People from the business community, universities (students and professors), the general public and institutional and governmental representatives from Québec, France and across Canada shared ideas and discussed best practices to adopt for inclusive, sustainable development of the urban landscape. The goal was to raise awareness about issues associated with real estate development and the implementation of new mobility and infrastructure projects, and to explore new proposals for improving congestion and traffic in order to jointly pursue an ecosystems approach to mobility in major cities. The event actively encouraged the sharing of innovations, practices and new visions from both sides of the Atlantic. The presentations, discussions and exchange of ideas during the event focused on the links and connections between real estate projects, urban renewal projects and mobility projects, and their social, environmental and economic consequences. Some 24 speakers and

many officials and representatives from the cities of Montréal, Lyon and Clermont-Ferrand, professionals and researchers from Québec and from France, along with a hundred participants, all discussed these important issues. They explored solutions to better integrate mobility in property development projects, shared their experiences and discussed practices for achieving inclusive, sustainable development in the urban milieu. The mayor of Montréal, Valérie Plante, closed the event by reminding participants of how important these issues are for creating human-scale cities where neighbourhoods are socially and generationally diverse, have strong economic and cultural components, and are centred on citizens’ well-being and quality of life . Participants shared different ways of designing and structuring new projects (Quartier Eureka Confluence in Lyon and YUL Montréal, Trudeau International Airport), of pinpointing issues related to the implementation of mobility projects that involve urban infrastructures and buildings (TOD - Transit-Oriented Development, POD Pedestrian-Oriented Development, the vertical city), and of binding together real estate, mobility and social inclusion projects. Presentations also made participants aware of investors’ positions as regards responsible investments.

MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

DENIS BERNIER

REAL ESTATE + MOBILITY

MONTRÃ&#x2030;AL ECONOMIC POWERHOUSE : : 2020 EDITION

The proposals put forth will contribute directly to research projects undertaken by teams associated with the Ivanhoe Cambridge Real Estate Chair and the Observatory of Innovations and Added Value in Real Estate at ESG UQAM, which are supported by Ivanhoe Cambridge, BOMA Québec, Fonds immobilier de solidarité FTQ and Aéroports de Montréal. DENIS BERNIER

REAL ESTATE, MOBILITY AND THE CITY Real estate, mobility and the city are three intrinsically linked elements necessary for successful sustainable development and ecological transition. Buildings, whether designed for residential, commercial, administrative, educational or health care purposes, are the chief generators of the movement of citizens within a city. As destinations, buildings set the daily pace for traffic and mobility, and thus shape the form and flow of the urban landscape. As many speakers pointed out, the links between the shape of a city and the types of buildings favoured in the different neighbourhoods determine its transportation system. The transportation system will, in turn, influence the shape and development of the urban landscape. It will have an impact on the organization and maintenance of transport infrastructures that are responding to growing demand. It is imperative that cities draft sustainable mobility strategies that reduce the distances travelled, and adopt regulatory measures for innovative use of urban land that take these factors into account. Buildings are often built and used for a life cycle of more than 100 years. In addition to determining their purpose and use, note that their location, potential occupancy and transformation are also decisive factors in a city’s quality of life. The chances of a sustainable mobility and ecological transition strategy succeeding in a big city are slim if it does not include real estate projects. A successful strategy will favour greater density and mixed-use buildings and a greater social, residential and commercial mix in the various city districts. For example, a new political and regulatory framework could reflect a rethinking of how urban territory is occupied by promoting tools to measure and evaluate building construction, renovation or transformation projects, thereby highlighting the positive environmental, social and economic impacts. It would place special emphasis on its effects on mobility and on reducing traffic and congestion, as well as greenhouse gas emissions. THE IMPORTANCE OF SYNERGY The links between key real estate, mobility and municipal actors (public, private and academic sectors) must be reinforced in order to redefine the framework of intervention and to stimulate their innovative and creative potential for jointly building or rebuilding the inclusive, sustainable districts of tomorrow. It is becoming

increasingly crucial to make key actors aware of the systemic impacts generated by their projects. A building can create a positive value for the neighbourhood by providing new services to the citizenry or by increasing the local population and justifying new mobility services. The value of the building depends to a great extent on the quality of life of the neighbourhood and access to smooth-flowing transit systems. One can no longer imagine the development of cities or real estate projects without including management of the social, environmental and economic impacts, i.e. accessibility, inclusion and mobility. Management of these impacts exceeds the jurisdictional limits of cities. Indeed, pollution, noise and traffic flow, as well as the social and environmental consequences of decisions and actions taken by citizens and elected officials, do not stop at municipal borders. A more systematic mode of governance that takes into account the impacts generated by various projects is necessary in order to facilitate the development of the urban landscape and its ecological transition. The impacts and interrelations between real estate, mobility and local neighbourhoods (including public infrastructures and services), force us to come to terms with the need to explore new approaches that improve mobility, and also to implement co-construction strategies for new projects. We must adopt more than a systemic approach; we must actively support an ecosystemic vision of the city. Property owners and investors are facing new issues in terms of support for inclusive, sustainable real estate development, and must adapt their approach. The concept of a building’s purpose and use has evolved. Often destined for a single function in the past, a building is now viewed as a generator of needs and impacts, and as a provider of services not only for its users, but also for its neighbourhood. The value of a building depends not only on the value of its leases and on the quality of its occupants, but also on the quality of life of the surrounding district. The physical limits of a property are becoming increasingly vague, morphing into a bundle of rights and obligations and accompanied by ever-evolving new data that allow us to assess and measure impacts, which we then must learn to manage. MONTRÉAL ECONOMIC POWERHOUSE : : 2020 EDITION

Montreal Economic Magazine | 2020 Edition

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