Montreal Economic Magazine | 2015 Edition by JBC Média inc.

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E c o n o m i c 2015 Edition

Investing and moving to Greater MontrĂŠal

Rolling out the red carpet for investors

The real estate boom

Major real estate projects, or the art of shaping a city

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5 From the Editor’s Desk

Greater Montréal: the great choice

By Nathalie Savaria, Editor in Chief and Associate Publisher

investing and Setting up shop in Greater Montréal BY Catherine Florès and Johanne Landry, journalists

7 Rolling out the red carpet for investors 4 WITH MONTRÉAL INTERNATIONAL, 1 THE CITY MAKES MOVES ON THE WORLDWIDE CHESSBOARD 16 MIPIM 2015 : Regroupement Montréal 21 Industrial cluster strategy Clearly a success

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BY Emmanuelle Gril, journalist

40 Major real estate projects, or the art of shaping a city 48 The Urban Development Institute of Québec A major presence in commercial real estate 51 Fonds immobilier de solidarité FTQ Providing economic leverage for the Québec real estate market 53 Ivanhoé Cambridge A real estate giant

By Charles Allain, writer

24 Sainte-Julie A city that works on a human scale 26 Laval City with a fresh new identity 28 Repentigny The conquest of (cultural) space : Repentigny’s new economic odyssey 30 Montréal, the creative city Getting the word out about this great city 34 Montréal, the university city A magnet for international students 39 Montréal, the digital city Just keeps getting smarter 4

the Real estate boom in Greater Montréal

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55 Menkès Shooner Dagenais LeTourneux Architectes Reinventing the city by creating sustainable living spaces By Suzanne Gagné, writer

From the Editor’s Desk

Montréal Economic Magazine is published by JBC Média inc. 2120 Victoria Ave., suite 140 Longueuil (Greenfield Park) QC J4V 1M9 Telephone: 450 670-7770 Toll free: 1 866 446-3185 Fax: 450 670-7771 info@jbcmedia.ca

www.jbcmedia.ca President and Publisher Jacques Boisvert Editor in Chief and Associate Publisher Nathalie Savaria Editorial team Charles Allain, Catherine Florès, Suzanne Gagné, Emmanuelle Gril, Johanne Landry and Nathalie Savaria Translation, revision and proof-reading Christine Barozzi, Catherine Faucher, Suzanne Gagné, Kathe Lieber, Maureen Nicholson and Anne-Marie Trudel Artistic direction Carole Bordeleau Computer graphics Sandrina Villeneuve Advertising Montréal Najat El Manir, Sales Manager Maude Lafleur, Advertising Representative Edith Lajoie, Advertising Representative Québec Madeleine Blain, Advertising Representative Responsible for the National Capital and the regions

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Greater Montréal: the great choice On November 17, 2014, more than 1,000 participants from a wide range of backgrounds gathered at Place des Arts, in the heart of the Quartier des spectacles, Montréal’s premier entertainment district. The one-day meeting was the culmination of an initiative called I see Montréal, launched by two businessmen, L. Jacques Ménard, President of BMO Financial Group, Québec, and Michel Leblanc, President and CEO of the Montreal Metropolitan Board of Trade, to promote the rebranding of Montréal. By the end of the day of fruitful exchanges and pooling of ideas, 180 entrepreneurs had committed to bring to fruition a series of projects, both large and small, to revitalize the city. This collective movement reflects the spirit of a city that’s intent on doing what it takes to boost its attractiveness and competitiveness. Without wearing rose-coloured spectacles, it’s fair to say that a fresh new wind is blowing over the city. From now on, the economic, political and social players certainly won’t be falling asleep at the switch. As Mayor Denis Coderre said recently, “Montréal is back.” This annual edition of Montréal Economic Magazine bears witness to Greater Montréal’s vitality and power of attraction. On this huge territory live more than 3.8 million people – nearly half the population of Québec, spread around the island of Montréal and the north and south shores. About 1.6 million of them live in the city of Montréal. This issue of the magazine, which focuses on the front-line players interviewed by our reporters, is divided into two sections. Part one presents the assets of Greater Montréal, notably the diversity of the city’s economy, as illustrated by its industrial clusters, competitive operating costs, geographic proximity to one of the world’s largest markets – the United States, its qualified workers, creativity, universities and quality of life. The combination of all these attractions can’t fail to seduce foreign investors who are looking for a place where talent abounds and where it’s great to live, work, study – and have fun. Part two focuses on the real estate boom in Greater Montréal. Yes, the pace has slowed somewhat, but the cranes that reach skywards, downtown and elsewhere, leave no doubt as to the intense activity going on. The buildings now under construction are going to change the city’s skyline. And builders, developers, investors, architects and other professionals are just as busy re-energizing and redefining the urban framework on the north and south shores. To all the investors, from here and abroad, the message is clear: welcome to Montréal, a city with arms open wide to welcome you, a city where investment makes sense!

Nathalie Savaria

Editor in Chief and Associate Publisher

Note : In the imperial system, 1 square foot is the equivalent of precisely 0.092903 m². montréal EconomiC MAGAZINE : : 2015 Edition

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investing and Setting up shop in Greater Montréal Everyone we interviewed for this issue agreed: it’s high time the whole wide world discovered the many assets of this city. Geographic and economic situation, industrial clusters, human capital – Greater Montréal has everything it takes to reach out to the world and attract investors who are considering moving here and being part of our prosperity. And that’s not all… Creativity, one of this city’s main drawing cards, is constantly being renewed and energized. An ever-larger cohort of foreign students, attracted by Montréal’s many assets, enrol at our universities each year. As the twenty-first century proceeds, the municipal administration is propelling itself resolutely into the digital era with a worthy objective: to make Montréal one of the smartest cities in North America! BY Catherine Florès and Johanne Landry, journalists

Rolling out the red carpet for investors Montréal weathered the last recession (2008-2009) somewhat better than most other cities in North America. The city has also benefited from major public investments in its infrastructures over the past seven years, such as $1.5 billion to build two super hospitals. But it still needs the “fuel” – the direct foreign investment to help us develop and assume our position as one of North America’s most dynamic cities. After all, we do have the assets and support it will take to make this city more attractive to foreign investors.

demand to be filled, as the middle class in most countries wants new products to consume. And that condition is conducive to investments and a positive thing for an innovative city like Montréal.” The economy of the United States, the major export market for Canadian companies, is being stimulated by American efforts to achieve energy independence. As a result, there has been an increase in domestic demand for goods and services – a plus for Greater Montréal, which is viewed by investors as a portal to the American market.

Board of Trade of Metropolitan Montréal

International factors foster investment Direct foreign investment (DFI) in Greater Montréal totals $500 to $600 million a year. “Realistically, we could still aim for $200 to $300 million more in investments every year, while the decline in the value of the loonie is favourable to foreign investments,” says Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montréal. “On the international scene, corporate capacity for investment is strong right now. Companies have accumulated enormous liquidity by postponing investments in light of the slow rebound of growth in the U.S. and the European crisis. So there is latent

Michel Leblanc President and CEO Board of Trade of Metropolitan Montréal

montréal EconomiC MAGAZINE : : 2015 Edition

investing and Setting up shop in Greater Montréal

Highly trained workers and joie de vivre: the key benefits of Greater Montréal Apart from these positive international factors, Greater Montréal has some distinctive strengths which tend to attract investors. Here are some of our special assets, according to Daniel Denis, partner and economist with KPMG. > The availability of highly qualified workers: Montréal has an ample pool of qualified multilingual workers. At a time when economic growth is increasingly connected to innovation, this is a major asset. Every year, no fewer than 40,000 new graduates leave institutions of higher education in this city. Home to more than 170,000 students, Greater Montréal is the metropolitan area with the most university students per capita in North America.

Daniel Denis Partner and economist Advisory Services, Strategy and Management KPMG

The robust health of the Montréal real estate market is also reassuring investors. “Taking measures to restrict access to mortgages has reduced the number of vulnerable lenders, creating a healthy climate and a better balance in the market,” says Leblanc. “The new deluxe condo apartment towers and office towers going up in Montréal in recent years are an indicator of the private sector’s confidence in the local economy.” The Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union is another positive factor. CETA will not only promote Canadian exports but also serve as a stimulus for rising cross-investments.

The collaboration we have here among academic institutions, research centres and industry, notably in high-tech sectors, helps with training the next generation of highly skilled workers companies are looking to hire. > Competitive operating costs: according to the 2014 edition of KPMG’s Competitive Alternatives study, Greater Montréal ranks among the most competitive cities in North America (not counting Mexico) in terms of operating costs. Across all sectors, costs here are 8% lower than in the U.S., ahead of 33 other North American cities with a population of more than 2 million. > Clusters of excellence and innovation: several specific niches of excellence shine in the diversified industrial fabric of Greater Montréal: aerospace, logistics and transportation services, live sciences and health technologies, information and communication technologies, clean technologies, audiovisual and financial activities (specifically post-market), making the city a bright light on the international scene. Together, these sectors represent more than 400,000 jobs – 20% of employment in the metropolitan area.

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investing and Setting up shop in Greater Montréal

Chantal Malo Senior Vice-President, International Affairs Investissement Québec

And culture can be considered an eighth niche of excellence, as the city is known for our creative artists and their ability to work with other sectors. “The growing combination of cultural, scientific and industrial disciplines in Montréal is attracting international players in the multimedia sphere,” says Denis. > Highly developed logistical platform: Montréal, a major port city, is the main portal for trade from the North Atlantic, and our port is the shortest route to the Midwest market. It is also the only container port in the OntarioQuébec continental gateway, and among the top 100 container ports in the world. Activities in the Port of Montréal generate at least $1.5 billion in economic spinoffs every year. All the road and train networks converge on Greater Montréal, and international airline connections have grown substantially in recent years. “Our situation as a transportation hub for goods and people is essential in the eyes of investors who are looking to gain access to a broader market beyond the domestic marketplace,” Denis notes. Businessman and philanthropist Stephen Bronfman, who owns Claridge Inc., a private investment firm associated with major residential and mixed real estate projects in Montréal – 10

montréal EconomiC MAGAZINE : : 2015 Edition

the place des festivals in the quartier des spectacles, downtown of Montréal

Stephen Bronfman Executive Chairman Claridge

Le Séville and the Bassins du Havre – chimes in about our quality of life. “Montreal is really unique: multicultural, bilingual, open to the world, offering many services on a human scale. Known for its joie de vivre, this city knows how to attract and retain workers from other places. It’s important for companies that set up divisions here to know that they’ll have no problem transferring employees.” Bronfman also believes the city has another card up its sleeve: creativity. The Claudine and Stephen Bronfman Family Foundation is a partner in C2MTL, a business conference held here every year that brings together great thinkers and innovative people from around the world. Foreign investors’ perceptions and expectations With a mandate to attract and retain foreign businesses in Québec, Investissement Québec (IQ) is constantly sounding out international investors. Chantal Malo, Senior Vice-President, International Affairs at IQ, observes that Montréal is perceived differently in different parts of the world. “In Europe, our main pool of investors, we see contrasting perceptions in the south and north. Investors from southern Europe, specifically France, make more positive assumptions, for reasons that are obvious – language and culture. We have to work harder to persuade investors from Germany, Scandinavia or Britain, who tend to have closer ties with Ontario.”

marie-joëlle corneau

Yves Grimard Director, Europe and the Middle East Investissement Québec

Malo adds that Montréal is better known in the U.S., but the recent recession south of the border has shaken investor confidence. In Asia and the Middle East, Montréal is still not well known and is not the first city investors think of when they want to expand their business in North America. Investissement Québec takes pride in having attracted a major biopharmaceutical company from South Korea, Green Cross, to the region this year. The plasma fractionation plant worth nearly $200 million that Green Cross plans to build should generate 140 permanent jobs. Investissement Québec is also seeing an evolution in DFI: “The traditional way of doing things, creating subsidiaries from scratch - what we call greenfield investment - is becoming quite unusual. Foreign companies seeking investment opportunities now prefer to acquire existing companies or form business partnerships with local companies,” says Yves Grimard, director for Europe and the Middle East. “These partnerships help our companies to ramp up their development on an international scale, and in some cases, it helps with bringing along the next generation. That helps Quebec-based entrepreneurs to gauge what’s at stake in this kind of situation.”

Éric Tétrault President Manufacturiers et Exportateurs du Québec

Is Montréal a sleeping beauty? According to the Economist Intelligence Unit, Montréal is slated to slide from 28th to 36th place on the list of the world’s 120 most competitive cities between 2012 and 2025. With all the assets this city enjoys, why isn’t it achieving the anticipated performance that it takes to attract investors? Éric Tétrault, President of Manufacturiers et Exportateurs du Québec, believes that Montréal needs to improve in several key areas: “Our clusters of excellence are strong, but we could have more of them. We should develop more leading-edge niches by working with small- and medium-sized enterprises (SMEs). It’s not enough to remain competitive in terms of production costs, we need to offer more innovative technological solutions. With all the expertise that’s concentrated in the Greater Montréal area, we have the means to set up a hub for high-tech companies.” Tétrault applauds Montréal’s efforts to remain fiscally competitive, but he feels that tax incentives for businesses should be stronger and specifically include cuts in payroll taxes. “What’s most at stake for Montréal is to have the fiscal leverage to take care of its economic development. We salute the efforts of the mayor’s office to obtain a better balance of power with the provincial government.”

montréal EconomiC MAGAZINE : : 2015 Edition

investing and Setting up shop in Greater Montréal

“A climate conducive to what we’re aspiring to is coming together now. I’ve never seen such a diverse range of joint projects involving the entrepreneurial, scientific, community and academic milieux.” L. Jacques Ménard President BMO Financial Group

Delays in building new roadway infrastructures, changing demographics, what he considers the paralyzing governance of Greater Montréal based on the complex borough structure, collusion scandals - all these factors, he believes, are weakening the city’s attraction potential.

Based on that study, BMO formulated 10 proposals to relaunch the city, targeting both civil society and the local authorities. Among the proposed measures were setting up a leadership with representation from the business, social, cultural and university milieux, pivoting around the mayor’s office, repairing dilapidated infrastructures, reaching out, retaining talents, and giving Montréal the powers of a real metropolis. BMO then launched, in conjunction with the Board of Trade of Metropolitan Montréal, the I see Montréal initiative, designed to reach all partners in civil society. “We asked citizens to submit constructive projects with documentation that they were committed to seeing through if we could give them a helping hand. Citizens must feel supported by the community to take initiatives,” says Ménard. That “helping hand” meant facilitation and assistance from the City and from institutions like the Board of Trade. Ménard believes that the dynamic of assisting with actions from civil society will bring our confidence back. He’s counting on the ripple effect. “You can move a mountain with a spoon, as long as you have enough spoons!” he says. “A climate conducive to what we’re aspiring to is coming together now. I’ve never seen such a diverse range of joint projects involving the entrepreneurial, scientific, community and academic milieux. In 2017, a much more attractive, highperformance Montréal will celebrate its 375th birthday.”

wikimedia commons by Diliff

Wakeup call as the 375th anniversary of Montréal draws near L. Jacques Ménard, Chairman of the Board of Directors of BMO Nesbitt Burns and Montréal International and President of BMO Financial Group, Québec, also noticed that the city seemed to be falling behind. In 2012, when the Commission of Inquiry on the Awarding and Management of Public Contracts in the Construction Industry (Charbonneau Commission) was making headlines every day, he observed with consternation that confidence was waning in business milieux and the threat of decline was hanging over Montréal. Loving his city too much to accept the situation, he set out to find ways to kick-start our vitality.

“I was interested in big cities that were comparable to Montréal, which had also seen periods of decline but had been able to bounce back. It seemed to me that we could draw some lessons…” he explains. With the assistance of the Boston Consulting Group, BMO analyzed the experiences of Boston, Manchester, Melbourne, Philadelphia, Pittsburgh, San Diego and Seattle. “All those cities worked from their own ecosystem, choosing the strongest routes for development and making sure that initiatives between the public and private sectors were consistent with social and economic realities. It took them five to seven years to get back on track.”

montréal EconomiC MAGAZINE : : 2015 Edition

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investing and Setting up shop in Greater Montréal

WITH MONTRÉAL INTERNATIONAL, THE CITY MAKES MOVES ON THE WORLDWIDE CHESSBOARD In 2013, fDi Magazine, the reference for investment professionals, ranked Montréal as the North American city with the best strategy for attracting direct foreign investments, ahead of 126 other cities that were in the running. The efforts made by Montréal International have clearly contributed to that sterling performance. Over the past 18 years, the organization, which has a mandate from the 82 municipalities in the Montréal Metropolitan Community (known by its French initials, CMM), has been dedicated to extending Greater Montréal’s outreach into the world and attracting foreign companies and investors here. Vice-President, Investment Élie Farah explains the vision behind Montréal International.

Montréal International has an eloquent ambassador in the person of Élie Farah. The affable man with the sparkling eyes has a real gift for putting people at ease in a spontaneous manner and warmly communicating his deep conviction that Montréal has a great role to play in welcoming international investors. “Essentially, companies make overseas investments for three reasons: access to a market, the availability of qualified workers and competitive operating costs. In each of those areas, Greater Montréal is positioned advantageously, in addition to possessing other specific assets. And that’s just the point the members of my team, who travel the world, are making when they talk to companies in the knowledge industry,” says Farah. The stakes are high, as the presence of foreign companies weighs heavily in the economic development of the region. “Today, about 2,000 international firms have set up some 2,300 places of business in the metropolitan area. While that may only constitute 1% of businesses in the region, these subsidiaries represent 20% of our GDP and provide 9% of local jobs,” Farah notes. Strategy designed to keep up with the top-performing hubs of the regional economy The strategy Montréal International employs for international investors’ start-ups is right in step with CMM development plans, which revolve around competitive hubs in the region or clusters of excellence. MI has pinpointed six areas with the greatest potential for attracting foreign investment: 14

montréal EconomiC MAGAZINE : : 2015 Edition

“Essentially, companies make overseas investments for three reasons: access to a market, the availability of qualified workers and competitive operating costs.”

Élie Farah Vice-President, Investment Greater Montréal Montréal International

aerospace; life sciences and health technologies (LSHT); information and communications technology (ICT); clean technologies; the agro-food business; transportation and logistics. “Our process is based on sectors and also on geography,” says Farah. “We’re targeting 11 countries in Europe, 18 U.S. states, and certain regions in Asia, specifically China and Korea. We’re concentrating on technology markets that show the best results and potential for development, but we remain extremely attentive to emerging markets.”

The tangible results of these steps represent between $800 and $900 million in foreign investments every year, 80% in the three sectors of ICT, aerospace and LSHT. A noteworthy fact: last year, Montréal International registered a recordbreaking $1.3 billion in total investments.

in the world. Today, there are more than 4,000. That’s extremely revealing when we look at the intensely competitive climate we’re operating in,” says Farah, mentioning in particular increased competition from agencies in the U.S. and Ontario.

Greater Montréal: undeniable advantages for attracting investors What are the people on Farah’s team who spearhead projects actually “selling”? Well, there are the major assets of the metropolis, of course - the availability of qualified, bilingual and cosmopolitan workers, competitive operating costs, direct access to the Canadian and U.S. markets (streamlined by NAFTA), representing more than 460 million consumers, strong sector-based experience, notably in our research institutes and excellent university network, not to mention the existence of financial and tax incentives.

To continue to stand out, Farah’s team focuses on the targeted strategic advice MI gives investors and redoubling their efforts to raise Montréal’s profile abroad. “Montréal is recognized as a historic city and a great place to live, but it’s not really well enough known as the technological city we are too. Luckily, with the network of ambassadors the city is setting up for the I see Montréal initiative and the city’s 375th anniversary in 2017, we have some tremendous opportunities to get some constructive buzz out there.”

Montréal International adapts its strategy to each investor. “To European and American investors, we sell the healthy business climate in Greater Montréal. To Asian investors, we sell projects, ranging from $200 to $500 million, instead. And for each investor we meet, we customize our approach based on their objectives,” Farah explains. American investments down, European investments up Since 2009-2010, we’ve seen a reversal in the origin of foreign investments in metropolitan Montréal: while the bulk of investments used to come from the U.S., that figure is dropping while European investments are rising. “In 2009, 50% of foreign investments came from the United States, 40% from Europe and 10% from elsewhere in the world. Since 2010, the Europeans are the ones who stand out, with their investments representing nearly 60% of total foreign investments in the region,” notes Farah, who says competing cities seem to have experienced a similar trend. He attributes the decline in American investments to the reduction in operating costs for companies in the U.S., a result of the energy independence policy that has prevailed since Obama came into office. American companies are more inclined to develop their activities on their own soil, especially as consumers tend to demand more local products. As for European investors, the desire to diversify their market is pushing them to set up shop in North America. “They find it more attractive to come here to sell products or services in the dollar zone. And Montréal is seen as a good springboard, because it’s a North American city they find reassuring, with our culture that’s more European,” says Farah. International competition intensifies Despite MI’s undeniably successful track record when it comes to prospecting for foreign investors, representatives always bear in mind that worldwide competition between cities is growing ever stronger. “Fifteen years ago, there were about 800 investment promotion agencies like Montréal International

Regroupement Montréal Real estate, the other dimension of investment While real estate may not be explicitly considered one of the economic poles supporting Montréal International, it is definitely part of MI’s promotion strategy. “Obviously, every investment project has a real estate dimension,” says the VP. “Any company that sets up business here or broadens its activities always needs space, so promoting the metropolitan real estate sector is naturally part of our mandate.” Here again, Montréal International works in concert with local organizations. In 2006, MI founded the Regroupement Montréal consortium, in partnership with the City of Montreal’s Service de développement économique, Technoparc Montréal and Aéroports de Montréal, to make foreign investors and real estate promoters aware of structural real estate projects in the city. Every year in the spring, Regroupement Montréal (see page 16), which now has near a dozen members with complementary skills, including major players in commercial real estate, attends the Marché International des professionnels de l’immobilier (MIPIM) in Cannes, France. “With more than 20,000 participants from at least 90 countries, it’s the largest real estate market in the world, but there’s only a small number of representatives from North America. That’s a great opportunity for us to make ourselves known to companies and investors who come to MIPIM to get an idea of potential foreign investments.” With a booth strategically located in a high-traffic area at MIPIM, Regroupement Montréal is sure to be noticed by investors and promoters, essentially from Europe, China and the Asia-Pacific area, who are on the look-out for business opportunities. Regroupement Montréal makes sure they know about the safe environment, diversified economy and solid banking system in Montréal, as well as the healthy real estate market we enjoy. Montréal International also attends other major events in the international real estate marketplace, especially events held in Toronto and Vancouver, to get developers interested in the many assets of Greater Montréal and extend the city’s outreach. montréal EconomiC MAGAZINE : : 2015 Edition

MIPIM 2015 REGROUPEMENT MONTRÉAL

The 26th edition of the Marché

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montréal EconomiC MAGAZINE : : 2015 Edition

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The Fonds immobilier de solidarité FTQ contributes to the economic development of Québec through its financial and strategic participation in the construction of rental buildings that create jobs and uphold social responsibility, in partnership with leaders in the sector. The Fonds supports start ups of real estate projects of all sizes and in all sectors – residential, office, commercial, institutional and industrial. As of May 31, 2014, it had 30 buildings under management and some 30 projects underway for a total value of $1.6 billion.

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Le Complexe du Canal Lachine

1000 De La Gauchetière Street West Suite 900 Montréal, QC H3B 5H4 Tel: 514 879-1212 Fax: 514 954-1905 www.blg.com REPRESENTATIVE Sylvie Bouvette, Partner sbouvette@blg.com

Montréal Data Centre (top-security building with an area of 29,230 m2) Towers in the Quartier des spectacles (office and commercial towers with 112,000 m2 of rentable space) CONTACT INFORMATION 545 Crémazie Boulevard East, suite 1210 Montréal, QC H2M 2V1 Tel: 514 847-5700 Fax: 514 847-5815 www.fondsimmobilierftq.com

Two heritage buildings, and Salon 1861 Renovation of a church in the Quartier de l’innovation in Montréal CONTACT INFORMATION 5524 Saint Patrick Street, suite 16 Montréal, QC H4E 1A8 Tel: 514 765-0425 Fax: 514 765-8986 www.lofts-mtl.com REPRESENTATIVE Natalie Voland, President

REPRESENTATIVE Claude Meunier, Vice-President, Development

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MIPIM 2015 REGROUPEMENT MONTRÉAL

NAME OF COMPANY

NAME OF COMPANY Ivanhoé Cambridge

NAME OF COMPANY

Carbonleo Real Estate Inc. DESCRIPTION

DESCRIPTION

Carbonleo Real Estate Inc. is a private Québecbased property development and management company specializing mainly in commercial real estate. Carbonleo created and developed Quartier DIX30TM, Canada’s first “shopping and lifestyle centre.” With its outstanding array of merchants, Quartier DIX30 TM is the second largest shopping centre in the country.

Ivanhoé Cambridge leverages its highlevel expertise in all aspects of real estate, including investment, development, asset management, leasing and operations. Its assets, held through multiple subsidiaries and located mainly in Canada, the United States, Europe, Brazil and Asia, totalled more than $40 billion (Can.) as at December 31, 2013. Its portfolio consists mainly of shopping centres, office buildings and multiresidential properties. Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec (www.lacaisse.com), one of Canada’s leading institutional fund managers.

Lemay is a Canadian leader in integrated built environment design services, bringing together architecture, urban planning, landscape architecture, urban design, engineering, airports and interior design in a multidisciplinary and synergistic manner. Lemay is firmly established in Canada, China, Algeria and the Caribbean, with nearly 500 professionals who place their creativity at the service of clients to support their business strategy. Lemay has been named one of Canada’s best managed companies.

SPECIALTIES

Architecture, urban planning, urban design, landscape architecture, engineering, airports and interior design

Carbonleo is dedicated to creating urban living spaces in the retail sector. The company’s specialty is injecting a spirit of neighbourhood and community into every commercial project, bringing spaces to life in a way that revitalizes the real estate sector in Montréal.

Lemay

SPECIALTIES

Commercial and industrial real estate

Shopping centres, office buildings; investment, development and operations in 20 countries

PROJECT presented

Master plan for the Bassins du Havre

N/A

Tours Duo (Paris)

New town of El-Ménia in Algeria

CONTACT INFORMATION

9160 Leduc Boulevard, suite 510 Brossard, QC J4Y 0E3 Tel: 450 550-8080 Fax: 450 550-8081

1001 Victoria Square Montréal, QC H2Z 2B5 Tel: 514 841-7600 Fax: 514 841-7762 www.ivanhoecambridge.com

SPECIALTIES

REPRESENTATIVE Claude Marcotte, Vice-President, Development and Construction

REPRESENTATIVES Bill Tresham, President Meka Brunel, Executive Vice-President, Europe

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PROJECTS presented

Tour des Canadiens CONTACT INFORMATION 780 Brewster Avenue, 4th floor Montréal, QC H4C 2K1 Tel: 514 932-5101 www.lemayONLINE.com REPRESENTATIVE Louis T. Lemay, President and Facilitator of Excellence

NAME OF COMPANY

JBC Média inc.

Montréal International

Technoparc Montréal

DESCRIPTION

Published by JBC Média since 2008, this trade publication covers subjects of interest to a targeted business audience who work in the commercial real estate sector in Québec.

Montréal International acts as an economic driver for Greater Montréal to attract foreign wealth while accelerating the success of its partners and clients. It has a mandate to attract foreign investments, international organizations and strategic workers, as well as promoting the competitive environment of Greater Montréal. A non-profit organization, it is funded by the private sector, the governments of Canada and Québec, the Communauté métropolitaine de Montréal and the City of Montréal.

Technoparc Montréal is a non-profit organization set up in 1987. A major player in technological development, it offers real estate environments and solutions that foster technological innovation over the entire territory of Montréal. Its major sites are the technological park of the Campus Saint-Laurent, the Éco-campus Hubert Reeves and the Quartier de la santé.

SPECIALTIES Commercial, industrial and multiresidential real estate magazine presented

SPECIALTIES

CONTACT INFORMATION 2120 Victoria Ave., suite 140 Greenfield Park, QC J4V 1M9 Tel: 450 670-7770 Fax: 450 670-7771 www.jbcmedia.ca REPRESENTATIVES Jacques Boisvert, Publisher and President of JBC Média inc. Nathalie Savaria, Editor in Chief and Associate Publisher

SPECIALTIES Technological development, innovation, real estate solutions

Economic development, foreign investment, start-ups, expansions, high value-added projects

PROJECT presented

CONTACT INFORMATION

N/A

7140 Albert-Einstein, suite 200 Montréal, QC H4S 2C1 Tel: 514 956-2525, ext. 2500 Fax: 514 956-2529 www.technoparc.com

CONTACT INFORMATION 380 Saint-Antoine St. West, suite 8000 Montréal, QC H2Y 3X7 Tel: 514 987-8191 www.montrealinternational.com REPRESENTATIVE Élie Farah, Vice-President, Investment Greater Montréal

Progress on the Éco-campus Hubert Reeves

REPRESENTATIVES Mario Monette, President and CEO Luana Borelli, Assistant to the President and CEO

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Sainte-Julie

All the pluses of a large urban centre, WITHOUT THE TRAFFIC!

Strategic competitive location - At the junction of highways A-20 and A-30 - Quick and easy access to the major markets of MontrĂŠal and QuĂŠbec City, Ontario, the Maritimes and the north-eastern United States - Overlooking the A-20 - Major regional economic hub

Many local facilities -

Large pool of qualified workers and professionals Near several research centres Plenty of office space available Broad-based office sector under development near the A-20 Four industrial zones

Exceptional environment - Town with an upbeat, attractive image - Recipient of highest provincial and national awards, including Communities in Bloom - Many innovative projects - Local citizens and businesses take great pride in their town

Industrial cluster strategy

clearly a

success Players in a given sector form clusters in specific industries, working together to solve challenges and reach out to the world. The Greater Montréal Area is betting on that strategy to boost overall performance.

The Communauté métropolitaine de Montréal (Montréal Metropolitan Community, known by its French initials, CMM) is a grouping of 82 municipalities with a total population of 3.8 million (nearly half the population of Québec). Mirabel, Terrebonne, L’Assomption, Contrecœur, Mont-Saint-Hilaire, Carignan, Beauharnois and Vaudreuil-Soulanges mark the boundaries of the immense territory that forms the greater metropolitan area – 4,360 km2.

So what exactly is a cluster? Clusters are geographic concentrations of interconnected companies in the same industry, including suppliers, distribution channels and product manufacturers. Since these companies often conduct economic exchanges, they are interdependent and connected, rather like a production line.

CMM

With 82 municipalities, it’s fair to say that Montréal has a diversified economy. The CMM development plan places the cluster strategy, which has won the city international recognition, front and centre. In fact, when the members of the European Union put their heads together to come up with an innovation strategy, they looked at the cluster concept and set up CLUNET (Cluster Network), a working group dedicated to activating industrial clusters in cities on the continent. “Montréal, as a territory with a sound strategy for clusters, is the only metropolitan area outside Europe that was invited to participate in the working group,” reports Yves Charette, Greater Montréal Metropolitan Economic Development Coordinator.

“Montréal, as a territory with a sound strategy for clusters, is the only metropolitan area outside Europe that was invited to participate in the working group.” Yves Charette Economic Development Coordinator Communauté métropolitaine de Montréal

“In 2005, when we designed the CMM’s initial strategic plan, we divided the Montréal economy into 16 clusters or categories,” Charette recalls. Since then, eight clusters have been activated – in other words, people in the industry have mobilized, set up a central secretariat, put together a business plan, formed a non-profit corporation and elected a board of directors. Another cluster – the fashion industry – is now in the process of getting organized as well. montréal EconomiC MAGAZINE : : 2015 Edition

investing and Setting up shop in Greater Montréal

Montréal clusters, a dynamic bunch Each of the clusters has scored some coups, says Charette. For example, Aéro Montréal, the aerospace cluster, set up the MACH initiative under the mentorship of Bombardier Aerospace. In phase one, about 20 Québec suppliers benefited from the expertise of seven or more world-class prime contractors who evaluated their performance and marketplace positioning. The suppliers received support in setting up a continuous improvement program and training programs. “Once certified as a MACH supplier level 1 to 5, they have easier and easier access to contracts with big companies,” Charette explains. A joint action plan like the MACH program solidifies the Québec supply chain in aerospace. Montréal InVivo is the life sciences and health technologies cluster. The three big teaching hospitals, the CHUM at the Université de Montréal, the McGill Research Institute at the MUHC, and Sainte-Justine-CHUSJ, have teamed up to launch a unique and audacious initiative designed to position Montréal among the world leaders in medical research. The project will see the three medical centres collaborating with the private and public sectors on clinical research that looks promising for the development of new treatments. One of Montréal’s strengths, as noted in a press release issued by Montréal InVivo, is that this is one of the few cities in the world where it is possible to proceed through all the stages in developing a new treatment. In October 2014, Finance Montréal, the financial services cluster, held the second edition of the FinTech Forum, under the banner of Digital Innovation: An Extraordinary Lever for Finance. The Forum is also the perfect place for discovering new talents and raising the profile of the expertise we have in Montréal in terms of technological applications in finance.

Écotech Québec, the clean technologies cluster, has set up Inno +, a series of workshops designed to create business opportunities for technology SMEs at which they can present their solutions to organizations facing environmental or energy challenges in person. “The idea is to find solutions here instead of importing them,” says Charette. Montréal, a resilient city “Our diversified economy is one of Montréal’s great strengths,” says Charette. “A Statistics Canada survey conducted a few years ago concluded that we were actually the most diversified economy in the country.” From leadingedge expertise in biomedical research to manufacturing armoires, there’s a constellation of possibilities for investors. And diversification is probably what makes the Montréal economy resilient in tough times. The downturn of 20082009 severely affected Cleveland and Detroit, for example, but Montréal managed to pull through better, Charette recalls. Why was that? “Because Montréal has figured out how to replace industries that are not top performers with a more diversified range of economic sectors and futureoriented companies, such as multimedia and genomics. And because we have, right here downtown, just what we needed to kick-start things. In Detroit, the economy was dominated by big corporations and there were not enough younger workers coming along to help in rough times. The fact that the big universities there are outside the downtown area also contributed to the decline of the city, I think. Here, our universities are right in the heart of town, along with our major teaching hospitals. In the depths of the recession, Montréal needed a major infrastructure renewal program, coinciding with the start of construction on the two superhospitals. That has kept our downtown a vibrant place, right in the heart of the action.” Montréal’s dynamic downtown goes hand in hand with a polycentric approach, says Charette, pointing to the aerospace cluster, which is expanding at Mirabel and promoting the setting up of related specialty services in the region, and the development projects around the new highway 30 for CargoM, the logistics and transportation cluster. “Highway 30 is the backbone of the logistics network. There will be a direct connection to the Port of Montréal, and probably a container terminal at Contrecœur, which will consolidate activities on the island.” As the development plan for 2010-2015 approaches its end date, the CMM is hard at work drawing up the next plan, which will continue to focus on the specific components of the territory that contribute to the city’s outreach. The objective: to make Greater Montréal one of the top ten metropolitan areas in North America for growth in gross domestic product (GDP) per inhabitant over the next few years.

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forum of

elected municipal officials

The Montréal Metropolitan Community is teaming with entrepreneurially-minded municipalities. Taking a front seat in the economic sphere, they do everything in their power to create the ideal conditions for attracting and retaining companies and investors from other countries. Here are three dynamic municipalities located in the Greater Montréal Area, all members of the Union des municipalités du Québec.

ACDF Architecture

laval

Sainte-Julie

pomerleau

Jean Martin

Promotional section by charles allain, writer

repentigny

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FORUM OF ELECTED MUNICIPAL OFFICIALS

Sainte-Julie

A CITY THAT WORKS ON A HUMAN SCALE With its dynamic economy and exceptional living environment, Sainte-Julie enjoys an enviable position on Montréal’s South Shore.

Many of the more than 120 companies on Sainte-Julie territory are head offices of manufacturing and distribution companies, along with high-profile firms and knowledgebased companies (computers, telecommunications, instrumentation, electrical material, industrial material, transportation materials, health care, etc.). Their success can be attributed to Sainte-Julie’s strategic and highly competitive location at the junction of autoroutes 20 and 30, as well as the abundance of qualified workers and professionals who have chosen Sainte-Julie for its quality of life and its proximity to major urban centres, including Longueuil and Montréal. The population cohabits happily with local businesses, good neighbours that cause few disturbances. The population of about 30,100 is relatively young, with an average age of 38.8, compared to 41.9 for the whole province. According to Statistics Canada data, they also have higher incomes and are more educated than the average for Québec overall, based on the 2011 census. Sainte-Julie residents can rely on a local and intercity public transit system that’s extremely efficient. Local circuits are free, including the Taxibus service that runs to the industrial parks and the rural sector of the municipality. 24

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CITY OF SAINTE-JULIE

ainte-Julie, which has six industrial sectors that are nearly completely occupied, accounts for more than 35 % of companies in the regional county municipality of MargueriteD’Youville. Major employers include the plant and head quarters for Novatech, a company that makes steel doors (500-plus employees), Groupe Lussier, which specializes in recycling mid-sized and heavy vehicles (230 employees), Eﬃcom Communications (100 employees), and Groupe Bousquet, which makes central air treatment units (90 employees). “There’s a little space left in the Coulombe industrial zone for light industry, distributors and services,” says Sainte-Julie Mayor Suzanne Roy, who chairs the Union des municipalités du Québec (UMQ).

SUZANNE ROY Mayor of Sainte-Julie, chair of the Union des municipalités du Québec

“We maintain strict and responsible management in a spirit of creativity and innovation, improving services all the time.”

JEAN MARTIN

SAINTE-JULIE CITY HALL

An incentive parking lot with 650 spaces is currently available, soon to be replaced by a new lot that offers even more room - 1,050 spaces, to be precise. The city plans to transform the sector by setting up a million-square-foot commercial development on the site, complete with office buildings. The sector directly overlooks autoroute 20, making it an exceptional window on the world. SOUND ADMINISTRATION One of the key reasons for Sainte-Julie’s dynamic spirit is the sound financial management of the city. According to the most recent La Presse - HEC Montréal ranking of municipalities (2014), published this past October, the average cost of municipal services for Sainte-Julie was below the average. “We come second on the list of least indebted cities in Québec with 25,000 to 50,000 inhabitants. And we also have the second lowest taxation rate for cities in our population category,” Suzanne Roy points out with pride. PROJECTS DESIGNED TO IMPROVE THE LIVING ENVIRONMENT Named Ville du bonheur (“city of happiness”) in 2008, 2009, 2011 and 2014, topping the Relative Happiness Index (RHI) for each of those years and in cumulative first place since 2006, Sainte-Julie strives to provide the best possible quality of life to its citizens. For one thing, they have the very good fortune of living in one of the only two cities in Québec to have earned the coveted “Cinq fleurons” designation, awarded to municipalities with outstanding landscaping and floral spaces. “We maintain strict and responsible management in a spirit of creativity and innovation, improving services all the time,” says the mayor.

JEAN MARTIN

For those who go to work or school in Montréal or Longueuil, there are more than 60 arrivals and departures on weekdays, with Saturday service on a reduced schedule. The network also serves the CEGEP de Saint-Hyacinthe.

LAKE IN ARMAND-FRAPPIER PARK, SAINTE-JULIE

WATER GAMES NEAR INDOOR POOL

In 2014, Sainte-Julie developed a cycling/walking path that links its parks and green spaces and connects with the Oka–Mont-Saint-Hilaire path in the Montréal metropolitan community (CMM). The three-kilometre path oﬀers exceptional views of Mount Royal and downtown Montréal as well as farmland in the region. The city has also completed the development of interpretation paths that connect Edmour-J.-Harvey Park with Mont-Saint-Bruno National Park. The city also plans to pursue the revitalization of the Vieux-Village sector and create interpretative walking trails along a section of rue Charlebois lined with ponds that feature exceptional biodiversity. “Public transit, active family life, sustainable development – those are the three pillars of our strategic planning,” says Suzanne Roy. montréal EconomiC MAGAZINE : : 2015 Edition

FORUM OF ELECTED MUNICIPAL OFFICIALS

Laval

CITY WITH A FRESH NEW IDENTITY Laval has a host of drawing cards to attract companies and investors. Since the year 2000, some $15 billion has been invested in the city, making it one of the most dynamic economic regions in Québec.

Hoping to turn the page, the City of Laval has set up a Bureau de l’éthique et de l’intégrité (municipal ethics bureau) that’s open to citizens who wish to report any situation that requires investigation or clarification. The Bureau which works closely with the Unité permanente anticorruption (permanent anti-corruption unit, known by its French initials, UPAC), is the only one of its kind in Québec municipal circles. STREAMLINED ADMINISTRATION Early in 2015, Laval plans to repatriate expertise from the Laval Technopole and the local development centres (CLDs) by setting up a Direction économique that will be a one-stop shop when it comes to economic development. The city has also started a round of consultations with its employees and regional partners in preparation for drawing up the new Strategic Plan. “I believe strongly in citizens participating to help create a synergy that fosters transparency and a climate of entrepreneurship,” Demers adds. “Also, nearly 90% of internal management positions have been given to new managers, many of whom come from outside Laval. This has really helped to change the corporate culture and the perception of the municipal administration.” 26

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VINCENT GIRARD

ver the past year, Laval has begun a major administrative restructuring designed to streamline and optimize the services the city provides for companies and citizens. “We held two important days of consultation in the fall, the ﬁrst with about 240 representatives from the Laval business community and the second with more than 120 real estate developers and builders, to see how we could make things a little more ﬂexible and reduce irritants for those who would like to set up shop and grow their business in the municipality,” says Marc Demers, the new mayor of Laval, elected in November 2013. “The sessions also gave us an opportunity to clarify the rules of the game so that everyone sees just where we stand today and understands the broad orientations of the new municipal administration.”

MARC DEMERS Mayor of Laval

“For the past year, we’ve seen more and more Laval citizens getting involved in all the public projects and consultations. That shows a real desire to participate and join in the democratic renewal that is so beneﬁcial and is generating more transparent development in Laval.”

POMERLEAU

CONSTRUCTION AHEAD Over the next three years, Laval intends to invest more than $1 billion in updating infrastructures. The new three-year infrastructure plan includes several projects, the largest being Place Bell downtown, near the Montmorency métro station. The sports complex, slated to cost more than $200 million, will include a 10,000-seat amphitheatre, an Olympic-size skating rink with 2,500 seats, and a community arena with 500 seats, as well as rental space for stores and oﬃces and a large underground parking lot. The ﬁrst shovel of dirt was turned on November 24, 2014 – a major turning point in this project, which will have a huge impact on the downtown core of Laval.

PLACE BELL

AERIAL VIEW OF LAVAL

GROUND-BREAKING CEREMONY ON NOVEMBER 24, 2014, AT PLACE BELL IN LAVAL LEFT TO RIGHT: Pierre Pomerleau, President of Pomerleau; Geoﬀ Molson, President and CEO, Montréal Canadien hockey club, Bell Centre and Evenko; Francine Charbonneau, Minister of Families, Minister responsible for Seniors and for Anti-Bullying, Minister responsible for the Laval region, Member for Mille-Iles; Marc Demers, Mayor of Laval; Martine Turcotte, Executive Vice-President, Québec, Bell; Jean Rousselle, Member for Vimont; Marcel Alexander, President of the Cité de la culture et du sport de Laval.

The renovation of drinking water filtration plants, parks and arenas is also on the drawing board. Laval plans as well to update city libraries and make massive investments in the network of swimming pools. Once these projects have been completed, the municipality will be able to offer its citizens top-notch facilities and join the ranks of cities that can host international aquatic sports competitions. MARKING HALF A CENTURY IN 2015 Laval, which was founded in August 1965, intends to make the most of its fiftieth anniversary in 2015 to strengthen its connections with local citizens and make the anniversary a springboard for reaffirming the Laval identity. Celebrations under the theme of Laval, l’autre histoire (Laval, the other story/ history), will roll out all year long. To make it a truly collective event, Laval has freed up a $1-million budget to support some 40 projects submitted by citizens. “We expected that about 80 projects would be submitted, but we received 192!” says the Mayor. The fundraising committee for the fiftieth anniversary celebrations is co-chaired by Alain Bouchard, President of Couche-Tard, whose head office is located in Laval, and Geoff Molson, President of the Montréal Canadien hockey club, the legendary hockey team.

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FORUM OF ELECTED MUNICIPAL OFFICIALS

Repentigny THE CONQUEST OF (CULTURAL) SPACE :

REPENTIGNY’S NEW ECONOMIC ODYSSEY On June 1, 2002, when Repentigny and Le Gardeur were merged by official decree of the Québec government, the new municipality became the twelfth largest in Québec and the fifth largest in Greater Montréal. The mayor of Repentigny set in motion a plan to harness the potential of this new economic power, which today has 84,472 residents. Chantal Deschamps’ vision involves shifting the downtown area along the St. Lawrence River.

Parc de l’île Lebel has a new vocation for tourism and culture, making it a prime venue for major events, and animation activities have been introduced in nearby Parc Charles-De Gaulle. Downtown Repentigny is a vibrant place, with dynamic residents and flourishing economy. “In the first phase, from 2002 to 2014, we laid the foundations for a truly remarkable downtown area. In phase two, it’s become our distinctive centrepiece, positioning us to reflect our slogan, S’épanouir – which means “blooming” or “achieving your potential.” L’Espace culturel has three components - the performance space, the Centre for the Arts, and the theme-based gardens for public art. This space is our new economic odyssey in Repentigny,” says Deschamps, who is quick to add that l’Espace culturel will present complementary cultural offerings rather than competing with other facilities in the region. L’Espace culturel, a project evaluated at $15 million, will bring multiple economic benefits. Mayor Deschamps likes to quote a study by the Creative City Network of Canada, which

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CITY OF REPENTIGNY

oday, downtown Repentigny runs along Notre-Dame Street between Richelieu Boulevard to the east and Thouin Street to the west. The Deschamps administration set the tone by investing nearly $11 million in urban infrastructures designed to promote integrated commercial and residential projects, in harmony with an exceptional environment. And that gamble has really paid oﬀ, with private enterprise injecting more than $50 million in the downtown area.

CHANTAL DESCHAMPS Mayor of Repentigny

ACDF ARCHITECTURE

Deschamps notes that l’Espace culturel is already contributing to the revitalization of the urbanized sector of downtown Repentigny. “The announcement of the project triggered a ripple effect on the investment front. Commercial and residential buildings have sprung up around the façade of the Espace culturel site, with anticipated private investments in the order of $31 million between 2015 and 2017. That funding will in turn lead to the creation of new jobs,” she says. And those beneficial effects will not be limited to the perimeter of downtown Repentigny. The whole local business community has literally bought into the concept of l’Espace culturel, recognizing the great potential of this promising project. “It continues to garner a growing amount of support, not only from partners in the arts and culture community but also from major players in the socioeconomic field. The federal government, the Conférence régionale des élus de Lanaudière and the Robert-Lussier Foundation have each provided financial assistance, and the community has subscribed to the tune of $1.8 million to date,” says Deschamps with pride. L’Espace culturel will make Repentigny an attractive destination for tourists and vacationers. It will even play a role in highlighting our heritage, as well as attracting a clientele with a strong propensity for cultural events.

PROULX COMMUNICATIONS

found that “municipalities that adopt culture as an industry have gained positive economic beneﬁts for their communities. Cultural industries create job growth [and] turn ordinary cities into ‘destination cities.’ ”

THE REPENTIGNY CENTRE FOR THE ARTS

PLAN OF THE ESPACE CULTUREL, IN THE HEART OF DOWNTOWN REPENTIGNY

Clearly, the benefits are undeniable for citizens, merchants, and the city. The mayor believes that l’Espace culturel will also make the Montréal Metropolitan Community both more attractive and more competitive – two key objectives of decision makers for the metropolitan area. “With an enviable position in terms of geography, crossed by the Assomption River, on the banks of the St. Lawrence river, served by autoroute 40 and the commuter train – a 40-minute ride to downtown Montréal – Repentigny is betting on all these distinctive benefits to promote l’Espace culturel as the showpiece of our downtown. More than just a place to hold shows, it will provide fertile ground for artistic creativity, discoveries and knowledge that are unique in the Montréal region, making a significant contribution to the economic and cultural activity of Montréal,” Deschamps says in conclusion. montréal EconomiC MAGAZINE : : 2015 Edition

investing and Setting up shop in Greater Montréal

getting the word out about this great city Montréal’s prodigious creative potential is unique in the world. Artists, business people, investors from far and near – many share that fervent belief. C2MTL President Richard St-Pierre shares his views on this great metropolitan centre.

C2 stands for commerce and creativity – two of Montréal’s greatest assets. And C2MTL is an annual event that bills itself as “a business conference somewhere between genius and insanity.” The nonprofit organization was dreamed up over dinner one night by Daniel Lamarre, the CEO of Cirque du Soleil, and Jean-François Bouchard, president of the Sid Lee advertising agency, who had been thinking of ways to make the whole wide world aware of Montréal’s many strengths and dynamic spirit.

c2mtl 2014 –Jimmy Hamelin

Montréal, the creative city

“We’re rebuilding the space to show the need to be innovative and creative in business, as in the rest of our lives.”

For the past two years, the conference has taken place at Arsenal, a 19th-century shipyard that’s been converted into an art gallery in Griffintown, a historic industrial district in the south-west part of the city, now rejuvenated and home to many innovative organizations and projects. “We’re rebuilding the space to show the need to be innovative and creative in business, as in the rest of our lives,” says St-Pierre. It’s being rebuilt to reflect the image of C2MTL, which in turn represents Montréal. It all comes together beautifully over the course of the three-day event, with chefs from the top tables in town, designers, the Opéra de Montréal and pop music groups, people from non-profit organizations and the Musée d’art contemporain – and that’s just a partial list – rubbing elbows with lesser-known partners and famous speakers such as Virgin Group founder Sir Richard Branson, producer Francis Ford Coppola, designer Philippe Starck, ING Direct founder and CEO Arkadi Kuhlmann, and Disney Group leader Michael Eisner. 30

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Frédérique Ménard Aubin

The spark was to invite world-renowned speakers to attract large audiences and present Montréal to foreign investors – but not the “same old, same old” way. C2MTL attracts attention by mirroring discussions on creativity in the experience. “More than an event, it’s a platform that lends a voice to all our bright lights in many different spheres – from music to fine dining to business,” notes Richard St-Pierre.

Richard St-Pierre President C2MTL

c2mtl 2014 –Jimmy Hamelin

C2MTL 2014 - Lab-solutions

C2MTL 2014 - Lite-Brite - la camaraderie

The guest list for 2015 includes Chelsea Clinton, actor/producer Kevin Spacey and tennis star André Agassi. Among the 16 members of the C2MTL Board of Directors are Claudine Blondin Bronfman, co-chair of the Claudine and Stephen Bronfman Family Foundation, Ubisoft president and CEO Yannis Mallat, Cirque du Soleil PR director Renée-Claude Ménard, and Alexandre Taillefer, managing partner at XPNC Capital and star of Dans l’œil du dragon, a reality TV show that sees business people investing in companies and startups. St-Pierre says C2MTL Board members derive no financial benefit from their position. “They do this because they care about making Montréal better known and they believe in this city’s immense potential. Some have been successful, at least partially, thanks to Montréal’s many assets, so this is their way of giving back – whether that means giving time, resources, access to contacts or a financial contribution.” Creation and innovation What exactly are those assets? Beyond any specific industry, it is the city’s strength in the creative and innovative spheres, says St-Pierre. Throw in multiculturalism and openness to the world, plus highly competent, well trained human resources. Starting up a business here is relatively straightforward compared to other cities, which can often be a determining factor for foreign investors. “We have exceptional entrepreneurial fibre here,” says St-Pierre. “People aren’t afraid to jump in. I heard one of our speakers, Andy Nulman, the president of Just for Laughs Festival, say that the way to succeed in business is to take a step, jump, and grow wings on the way down. I found that an extraordinary analogy.

Montrealers are ready to do that. Take a risk, create a business model and have confidence that you’ll grow those wings before a problem arises. I’ve lived in Europe, the United States and Asia, and there aren’t many places where you find such a high number of people with these characteristics.” After living on other continents for a decade or so, St-Pierre is in a position to judge just how exceptional Montréal really is. “Montréal could become a world capital of creativity, but the world doesn’t know that yet,” he says. “People know this city by name, they can locate it on a map, but our assets and abilities remain closely guarded secrets – too closely guarded. We need to build bridges.” What are the key selling points? Quality of life and quality of business – this is a city where it’s great to live and great to do business. “Talent resides not only in individuals, but in the city’s social fabric,” says St-Pierre. “People who want to set up a bank go to New York City or London, and the Googles and Facebooks of this world invested their millions in Silicon Valley. But we have a goldmine of creative and innovative resources here in Montréal. It’s a distinct advantage – we have strengths in the horizontal sense. Here, we have creative ability in everything from chemical reaction engineering to pharmaceutical research to lumber and energy. The connecting thread is the capacity to innovate, which is typical of Montréal; in fact, it’s more developed here than elsewhere.” Would it be fair to say that Montréal is a city of eccentrics? “Well, that’s a bit of a caricature,” says St-Pierre. “But after just three years, C2MTL is one of the top ten international conferences, montréal EconomiC MAGAZINE : : 2015 Edition

c2mtl 2014 – Agneszzka S

c2mtl 2014 – Sébastien Roy

investing and Setting up shop in Greater Montréal

C2MTL 2014 - Lab-dIy

which is exceptional considering that the other nine cities on the list have been around for 20 or 30 years. That success shows what I mean. Commerce and creativity go hand in hand, and we’ve assembled the components for the first time. And it’s all happening in Montréal.” Pride and publicity The head honcho of C2MTL continues. “Even Montrealers downplay the beauty and potential of their city, but we have a lot to take pride in. Innovation is all around. We use that word a lot when we’re talking about videogames. For example, Felix & Paul Studios has developed a camera that produces live-action virtual reality, an unparalleled 3D experience. They’ve just signed a contract with Samsung. People who buy the Oculus Samsung Gear wearable design, which is launching soon, will see content produced by Felix & Paul Studios.” Montréal is also a UNESCO City of Design, and ranks in the top three on Lonely Planet’s list of “hot” summer cities. In terms of culture, Leonard Cohen, Céline Dion, Cirque du Soleil, Denys Arcand and Arcade Fire are household names the world over. Another example, you say? “Bangladeshi economist Muhammad Yunus, who won the Nobel Peace Prize in 2006 and is the inventor of microcredit, came to speak at C2MTL in 2014. He had been wishing to set up shop in North America for years, but hadn’t found the right city. He is thinking about Montréal, where he feels at ease. He says the city reflects the culture he wants to promote,” St-Pierre states. 32

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C2MTL 2014 - Espace collectif

“Even Montrealers downplay the beauty and potential of their city, but we have a lot to take pride in. Innovation is all around.” – Richard St-Pierre

On 28 November 2014, Mr. Yunus announced that C2MTL was chosen as the principal North American platform that will host the Social Business Forum for the next seven years. The future of Montréal Once he finished school, Richard St-Pierre set out to explore the world before deciding where to put down roots. He could have chosen Paris, London, Shanghai or New York City, but he headed home to Montréal, to be close to his family, of course, and to benefit fully from all of this city’s assets. “Expo 67, the Olympic Games, Floralies internationales – we pulled off major projects in the past that are part of our collective memory. Then we had a period of stagnation. Today we’re seeing our strengths rebound in the social, economic and commercial spheres. Didn’t Mayor Denis Coderre say that Montréal was back? Something’s going to happen over the next decade, and things are falling into place right now. There’s a new flame burning, people are finding a new voice, there’s a dynamic new message firing up in the cultural and economic areas. We don’t have the words for it yet, and I haven’t heard anyone putting the finger on this new reality, but I believe that Montréal is rediscovering itself as a community. The change began around five years ago.” How does St-Pierre envision the future of Montréal? “Recognition. We have the ability to become the creative capital of the world,” he says. Is that dream too ambitious? “I believe sincerely that we can do it. That’s why I’m the president of C2MTL.”

FRONT AND CENTRE OF LAVAL’S ECONOMIC ACTIVITY Place Bell will play a leading role in Laval’s economic, sports and cultural development.

investing and Setting up shop in Greater Montréal

Montréal, the university city

A magnet for international students

the prEsident-kennedy pavilion of the université du Québec à Montréal

What do Paris, London, Singapore, Sydney, Zurich, Melbourne, Hong Kong, Boston and Montréal have in common? According to the QS World University Rankings, they are the world’s top cities for students (in that order). The British rankings include the following criteria: internationalization (student mix), quality of life, employability on graduation, and cost of tuition. Coming ninth on the top-50 parade in 2012 and 2013 is certainly a feather in Montréal’s cap. But that’s not all: China’s Bank of Communications Sea Turtle Index ranks Montréal the top city in the world for quality of educational choices, social and professional experience, and financial and real estate investment potential. Why does Montréal attract so many foreign students every year (some 26,000 at last count)? Well, for starters we have many academic institutions and research centres, all quite different: four universities, two French-language and two English-language; schools that offer targeted top-notch programs, such as the École de technologie supérieure (ÉTS – technology), HEC Montréal (management), the École Polytechnique (engineering), the École nationale d’administration publique (ENAP – public administration) and the Institut national de la recherche scientifique (INRS – basic and 34

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DENIS BERNIER

stephan poulin

A wide array of institutions, great quality of life, cultural vitality and bilingualism: it all makes Montréal an inviting place for foreign students.

Robert proulx Rector Université du Québec à Montréal

Frédérique Ménard Aubin

“We have top academics, world-class researchers in every field, and many students who come here to do their PhDs and post-doc work because they want to work with these respected mentors. In fact, the quality of our professors and the research they do is one of the deciding factors.”

richARD DESCHAMPS Chair, Management Committee, Montréal ville de savoir et d’innovation Conférence régionale des élus de Montréal

Students are always pleased to have a choice of top-level educational offerings with an innovative twist. Montréal is also known as a safe city with wonderful quality of life and a diversified social fabric. “Our multiculturalism is another aspect young international students really appreciate. Montréal is a festival city, too, and tuition fees are lower than in the U.S. In Montréal, a student can learn French and live in English, or vice versa. That’s quite a rare phenomenon,” says Deschamps. “Montréal neighbourhoods are bursting with life, and we have huge parks, bike paths,

So where do they come from, these students who choose to come here to study? “Most are from French-speaking countries in Europe and North Africa, but they also come from Commonwealth countries, the U.S. and other provinces in Canada,” says Richard Deschamps.

istock by Steve Rosset

Research is a key part of academic life, notes Richard Deschamps, who chairs the committee that promotes Montréal as a city of knowledge and innovation. He points to some of the city’s great strengths, such as the presence of international experts at the Institute for Research in Immunology and Cancer (IRIC) and practical businessrelated projects at the ÉTS and the École Polytechnique, not to mention the work of Hans Selye, who discovered stress syndrome while working at the Université de Montréal and McGill University. “We have top academics, world-class researchers in every field, and many students who come here to do their PhDs and post-doc work because they want to work with these respected mentors. In fact, the quality of our professors and the research they do is one of the deciding factors,” says Deschamps.

sunny patios, and bustling public markets. A hub for creativity and culture, Montréal attracts crowds with our festivals and theatrical productions, shows and exhibitions,” Proulx adds.

McGill University

applied research), along with a campus of the Université de Sherbrooke in Longueuil on the South Shore. “In less than 50 years, Montréal has gone from being the city with a hundred church spires to the city with eleven universities and specialized institutions of higher learning,” says the rector of the Université du Québec à Montréal (UQAM), Robert Proulx, adding that everyone works together in one big network – another plus for the city.

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the université de montréal

OLIVIER MARCIL Vice-Principal, Communications and External Relations McGill University

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HEC

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The École de technologie supérieure (ÉTS – technology)

Big benefits Foreign students bring beneficial effects to a city, says Deschamps – first of all, in terms of their economic impact. According to the Ministry of Higher Education, Research, Science and Technology, that means $1 billion injected into the Québec economy in 2010, including $88 million in tax revenue and contributions to the public coffers. Since Montréal welcomes 75% of the international students who come to this province, that’s an estimated $750 million that was spent here.

Université Mc Gill

Montréal ranks high on the list of university cities, and so do our educational institutions. McGill comes 21st in the QS World University Rankings for 2014-2015, with the Université de Montréal in 83rd place. “We share with Hong Kong the distinction of being the only two cities that have two universities teaching in different languages among the top 100 universities on the list,” says Olivier Marcil, McGill’s Vice-Principal (Communications and External Relations).

HEC Montréal (management)

Climbing up the rankings Montréal is recognized as a university city that provides a warm welcome and a fine education for thousands of students from home and abroad – a total of 190,000, says the Rector of UQAM, based on 2013 statistics from the Conference of Rectors and Principals of Québec Universities and the Office for Interuniversity Cooperation. That performance does present a major challenge – not being left behind in this highly competitive environment, and raising the bar even higher. That was the message of an opinion paper called L’urgence d’agir pour attirer les meilleurs étudiants internationaux à Montréal (The urgent need to take action to attract and retain the best international students in

“We share with Hong Kong the distinction of being the only two cities that have two universities teaching in different languages among the top 100 universities on the list.”

Poly_pub_montreal-economique-EN_prod-01.pdf

Besides, these talented people, whether they’re already qualified or still in school, are one way of addressing demographic issues. They help counter the aging population, raise the level of qualified manpower and attract new investments, since the presence of specialized workers is a determining factor in foreign companies’ decisions on where to locate, especially in hightechnology sectors. “Today’s issues involve the whole planet,” Proulx points out. “Countries are interdependent, and we can’t address the major questions that advance our societies without taking that into consideration. Our foreign students fit in here and help us to connect with the rest of the world.”

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FOR A CITY THAT SHINES INTERNATIONALLY

Newly minted degrees in hand, along with great contacts and an understanding of the host society (and also generally the working world, which they come to know while they’re students), international students are a prime pool of prospective immigrants for host countries.

CMJ

Even those who decide to return to their native countries after they graduate have a positive impact on our institutional, political and commercial relations. Their understanding of our society and values, combined with the networks they’ve formed here, makes them great allies and ambassadors.

WE TRAIN LEADING LIGHTS OF KNOWLEDGE AND INNOVATION

That’s why so many cities try so hard to attract foreign students. “Our closest competitor, geographically speaking and on the QS list, is Boston,” says Deschamps. “Boston’s economy is knowledge-based, with high-profile institutions like Harvard, the Massachusetts Institute of Technology and Boston College that definitely attract a high number of students. The good news is that we attract just as many to Montréal for all the pluses we offer.”

polymtl.ca

Since 1873, the accomplishments and technological innovations of our researchers, students and graduates have helped Montréal shine on the world stage.

WORLD-CLASS ENGINEERING

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investing and Setting up shop in Greater Montréal

“The fact that there is such a broad consensus on what remains to be done to strengthen our position and attract, welcome, integrate and retain students shows how much the major players on the Montréal municipal scene and the world of education care about having more international students ‘chez nous’.”

ebc

– Richard Deschamps

the Université de Sherbrooke in Longueuil on the South Shore of Montréal

Montréal), which was presented last September by the Conférence des élus (CRÉ) with Mayor Denis Coderre in attendance. The document, which takes an in-depth look at the situation and makes 26 recommendations, is a consensus document, signed by the universities – McGill, UQAM, Concordia, and U. de Montréal – as well as the Polytechnique, ÉTS, HEC, and the Regroupement des collèges du Montréal métropolitain (Greater Montréal association of colleges), among others. The paper was issued as part of the CRÉ’s Montréal, ville apprenante, de savoir et d’innovation (Montréal, city of learning, knowledge and innovation), and in particular, its committee for L’ouverture aux citoyens du monde (welcoming citizens of the world). In addition to the universities, schools and colleges, Montréal International, the Board of Trade of Metropolitan Montréal, the Forum jeunesse de l’île de Montréal (youth forum) and the City of Montréal all belong to the committee. “The opinion paper is a good diagnostic tool,” says Marcil. “This city has every advantage, and we can attract even more foreign students, especially as other provinces are actively courting the highly mobile Asian market over there.” Student mobility is undergoing phenomenal growth worldwide. According to the Organisation for Economic 38

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Co-operation and Development (OECD), the number of international students rose from 2 million to 4.1 million between 2000 and 2010, and to nearly 4.3 million in 2011. That figure should hit a projected 6.4 million by 2025. The opinion paper calls upon different levels of government and makes a number of recommendations, including streamlining immigration formalities and procedures, especially the entry process and extensions. Among other priorities, Deschamps mentions recruiting and welcoming international students, which involves some costs. “The funding structure needs to be reviewed to cover those costs as much as possible,” he says. The opinion paper also recommends lifting the ceiling on places at the CEGEP level to welcome more international students and applying measures to build language courses and professional training into the program to boost the retention rate for young graduates. “The fact that there is such a broad consensus on what remains to be done to strengthen our position and attract, welcome, integrate and retain students shows how much the major players on the Montréal municipal scene and the world of education care about having more international students ‘chez nous’,” says Deschamps in conclusion.

Montréal, the digital city

Montréal, already in an enviable position when it comes to all matters digital, plans to top the list of intelligent cities by 2017.

Denis Coderre, elected mayor of Montréal in November 2013, is a firm believer in the power of information technologies. In fact, using IT to improve services to citizens was one of the planks in his platform. Within four months of starting work at city hall, he set up the Bureau de la ville intelligente et numérique (smart digital city office), which has a mission to develop a strategy so Montréal can continue its growth curve and lead the way for citizens. “Going digital and being connected are not the end goal as such,” says Harout Chitilian, Vice-President of the Executive Committee of the city of Montréal, who’s in charge of administrative reform, the smart city, information technologies and youth. “Technologies are a way to provide the latest public services. Mayor Coderre’s vision goes well beyond a digital city, however, to a connected and committed citizenry, supported by a smart city, with a role to play in improving public services.” Four themes, a single vision Current conditions are conducive to making that vision a reality, says Chitilian. Civil society is dynamic, and technologies are one of Montréal’s strengths in various domains. The strategy and working groups the Bureau’s new Director, Stéphane Goyette, is set to announce in the near future will cover four themes. First comes data – creating tools for collecting and using data in the city’s management operations and in the decisionmaking process, says Chitilian. The second theme is wireless connectivity in public spaces and high-speed Internet, as well as bandwidth in companies and digitizing the use of equipment in the municipal sphere, such as traffic lights, light standards, charging stations for electric cars or parking meters.

Studio Mocaphoto

In 2013, the Intelligent Community Forum (ICF) ranked Montréal one of the top 21 intelligent communities in the world. More recently, Boyd Cohen of Fast Company magazine put Montréal in ninth place on the list of smartest cities in North America, calling it an “emerging smart city.”

istock by Izabela Habur

Just keeps getting smarter

“Mayor Coderre’s vision goes well beyond a digital city, however, to a connected and committed citizenry, supported by a smart city, with a role to play in improving public services.” Harout chitilian Vice-President of the Executive Committee In charge of administrative reform, the smart city, information technologies and youth City of Montréal

The third is digitization of public services, including filing complaints and applying for licenses. That could even include offering a broader range of municipal services that can be paid for with the Opus card – the electronic payment card for public transit users – such as paying for parking meters or eventually, Bixis. The fourth theme involves the collaborative aspect - for example, letting entrepreneurs who develop smart tools for managing city operations test them in a public space, or challenging civil society to work on municipal issues. “That’s what they’re doing in Barcelona and Philadelphia,” Chitilian points out. The Info-Neige pilot project that’s been launched in five boroughs to keep citizens informed on the progress of snow-clearing operations (and cut down on those irritating tow-aways) showcases the broad range of possibilities associated with technologies designed to improve communications and services, he says. montréal EconomiC MAGAZINE : : 2015 Edition

The real estate boom in Greater Montréal While the frenzy of recent years seems to have abated somewhat, cranes are still a familiar sight on the Montréal skyline. The market is now considered to be stable yet still vigorous. A case in point: the major construction sites humming in every corner of the city of Montréal, and the many investments on the north and south shores of the island. In this section, we present some major real estate projects that are reshaping the urban landscape, and we hear from experts in the sector, members of the Urban Development Institute of Québec. We profile two major investors that inject millions of dollars into the Québec real estate market every year: the Fonds immobilier de solidarité FTQ and Ivanhoé Cambridge. BY Emmanuelle Gril, journalist

Devimco

Major real estate projects, or the art of shaping a city There are so many real estate projects underway in the Greater Montréal area that cranes seem to be a permanent fixture on the horizon. Some parts of the city are in the process of redefining themselves, and there’s no shortage of activity on the north and south shores. Here’s an overview of these promising projects.

The renaissance of Griffintown Griffintown, the old industrial and working-class neighbourhood in southwest Montréal, is rising from the ashes. Strategically located between the Lachine Canal and Notre-Dame Street, near the Cité du Multimédia and Old Montréal, this sector is getting a lot of attention these days, after years of being neglected by investors. Home to only 1,100 residents in 2001, Griffintown could see 16,000 people flocking to the neighbourhood as housing units start to rise from the ground. There are more than 10 residential projects underway, including the 12-phase Bassins du Havre project, with 1,800 condo apartments. Devimco Immobilier’s huge Griffin District project really got the revitalization ball rolling. President Serge Goulet, 40

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the visionary behind Quartier DIX30 (an urban lifestyle shopping centre) in south-shore Brossard, got involved in the adventure in 2005. All told, more than $800 million will be invested in three “poles”: Griffin by the water, Griffin on Peel, and Griffin on Parc. There will be more than 2,100 co-op and rental apartments, as well as 290,000 sq. ft. of office space and 328,000 sq. ft. of retail space. The initial phase of the first pole is complete, with 188 condo apartments, various services and a hotel. The second pole is under construction (310 condo apartments in two towers plus a commercial extension). The third pole, a tower with 114 condo apartments, has already been built, and construction has just started on yet another tower.

Griffin district on the park

the Quartier de l’innovation

“The market remains strong, and condos are in great demand. There’s a terrific dynamic spirit in this area, which is being reborn and transformed every day. It’s magnificent to see it go forward before our very eyes!” says Marco Fontaine, Senior Manager, Sales and Marketing, for Griffin District. “Creating a living environment is Devimco’s trademark. What we’re offering is not just a condo, but a whole environment,” he says, adding that this renaissance is similar to projects in the Meatpacking District in New York City or Liberty Village in Toronto.

Central to the project is the idea of creating a kind of laboratory, an ecosystem conducive to innovation, with four segments: industrial, education and research, urban, social and cultural. Silès believes that all these elements are already in place: “We have 45,000 students, professors and researchers, 20,000 jobs with 350 companies, the highest concentration of IT and multimedia professionals in Canada, a dynamic artistic community, real estate projects in the billions…” he says. Everything is there, in other words.

devimco

But that’s not all: Griffintown is also at the heart of the brand-new Quartier de l’innovation (QI), jointly spearheaded by the École de technologie supérieure and McGill University. “We want to bring together talents and develop creativity with a touch of audacity before using bricks and mortar,” says Damien Silès, Executive Director of the QI.

marco fontaine Senior Manager, Sales and Marketing Griffin District

damien Silès Executive Director Quartier de l’innovation

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the quad windsor

cadillac fairview

illustration: artist’s concept E. & O.E.

the Real estate boom in Greater Montréal

the tour des canadiens

nerve centre of the downtown core, adding new signature towers to the skyline and much-improved connections to neighbouring districts and Griffintown,” Salvatore Iacono, Senior Vice-President, Development and Real Estate Management, Eastern Canada Portfolio, Cadillac Fairview, told a press conference in March 2014.

JBC MÉDIA by DENIS BERNIER

Four phases are planned. The first should see the construction of two 38-storey residential towers located at 1150 and 1250 Saint-Antoine Street West. The towers will be connected by an aerial walkway across Saint-Antoine, extending the existing public pedestrian network so that people can cross the street without having to brave the elements.

Salvatore Iacono Senior Vice-President, Development and Real Estate Management, Eastern Canada Portfolio Cadillac Fairview

Quad Windsor: a new neighbourhood in gestation Over the next few years, downtown Montréal will get a facelift. Last March, Cadillac Fairview announced its development plan for what will now be known as the Quad Windsor. In addition to the Tour des Canadiens and the Deloitte Tower, seven new buildings, including five residential towers and two office towers, will be built over the next 15 years. This $2 billion project will include ultramodern work spaces and an up-to-date living environment. “We’re picturing a mixed-use development that includes office, residential and retail components for a total of more than 4 million square feet. That mix will contribute to creating a vibrant new downtown neighbourhood that will extend the 42

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The second phase includes two office towers at 750 Peel Street, for a total leasable area of 1.1 million square feet. The buildings will have a tapered form, allowing for wider sidewalks at the base and a more streamlined appearance on the skyline. The plan also includes a plaza with retail stores, as well as green spaces along the sidewalk, skylights below and public access to the underground network along Saint-Jacques. The design is the work of a highprofile team from Chicago, Adrian Smith + Gordon Gill Architecture, who also designed the Burj Khalifa in Dubai, the tallest skyscraper in the world. Phase 3 will see three residential towers rise at 600 Peel, along with townhouses and retail spaces. These towers, which will also be slightly curved to maximize their southern exposure and views, will be built around a pedestrian thoroughfare crossing the site. A large urban public park will also be part of the project. Last but not least, phase 4 will involve the restoration and refurbishment of Windsor Station, the cornerstone of the project, says Iacono. This jewel in the crown of Montréal’s architectural heritage, of medieval roman inspiration, was built by the Canadian Pacific Railway at the end of the nineteenth century. It will now give its name to a whole neighbourhood.

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the Saint-Laurent campus of Technoparc Montréal

Technoparc Montréal

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the Real estate boom in Greater Montréal

mario monette President and CEO Technoparc Montréal

“Our strength lies in the fact that we can fill businesses’ every need, from real estate to technological development.” – Mario Monette

Technoparc Montréal: the sky’s the limit Mario Monette, CEO of Technoparc Montréal, a high-profile scientific research park, expects 2015 to be a great year. For starters, he notes the renaissance of the life sciences sector after some lean years and corporate restructuring. “Green Cross from South Korea will be starting to build a blood plasma fractionation complex, a project worth more than $180 million, on the Saint-Laurent Campus of the Technoparc. The future headquarters of the Hospira Healthcare Corporation, also on the campus, should be finished in the spring of 2015,” says Monette. What’s more, all the vacant spaces at the NEOMED Institute, a hub for biopharmaceutical research, were leased in 2014. Four hundred new jobs are expected to be created in 2015 – extremely good news for the Montréal economy. Monette says that in the biopharmaceutical sector, Montréal has become just as dynamic as Boston. “We’re making up for lost time, and we’re well on our way to becoming a key city,” he says. One sign of how well things are going: there are plans to erect a new 15,000 sq. ft. building to accommodate other health sciences companies and start-ups in the field. 44

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the futurE Éco-campus Hubert Reeves on the saint-laurent campus

Société développement Angus

Ongoing development of the Technopôle Angus The Technopôle Angus, the sector of the city of Montréal located where Rosemont and the Plateau Mont-Royal meet, has really taken off. This is where the CPR’s Angus Shops were located in the early twentieth century; the last were decommissioned in 1992. Once that page in industrial history had been turned, the vast space was open to a new vocation. The Société de développement Angus (SDA) began to acquire land on the site in 1995. Nearly 20 years later, the spectacular reconversion is getting rave reviews. Today, it’s home to 53 companies in various sectors (health care, services, information technologies, social economy)

Monette describes Technoparc Montréal as an important pole for industrial research and innovative technologies in Québec. Through its business centre, TM2, more and more start-up companies should be setting up there. “We’re working on solutions ranging from domiciliation to ‘soft landing’ services for foreign companies dipping their toes into the Canadian market. Our strength lies in the fact that we can fill businesses’ every need, from real estate to technological development,” he explains.

technoparc

The Éco-campus Hubert Reeves is a knowledge city on the SaintLaurent Campus, an international technology portal dedicated to clean technologies and sustainable development. Work has already begun, and the pace should pick up in 2015, when several major announcements will be made.

the technopôle Angus

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Gilbert leblanc Vice-President – Development, Investment and Real Estate Laval Technopole

that provide employment for 2,300 workers, along with two daycares, a health-care centre, a fitness facility, and of course the huge Jean-Duceppe Park. It all adds up to a real living environment for the residents, who feel quite spoiled. And that’s not all: development continues, with a 400,000 sq. ft. lot that remains to be developed – a $215 million project, according to Christian Yaccarini, President and CEO of the SDA. “We intend to promote a good mix of residents. Of the 300 projected housing units, our target is 15% social housing, 70% affordable condos and 15% private condos. We’ve signed an agreement with the Société d’habitation et de développement de Montréal and adapted the Accès Condo program to our project. The condominiums will be offered to local people on a priority basis,” he explains. The apartments will have two or even three bedrooms, meeting the needs of young middle-class families who are already living in the Rosemont–La Petite-Patrie borough but lack the means to purchase a property in town. To feel “at home,” many now feel they have to move to the suburbs or to a less popular part of town. Developing 450,000 sq. ft. of office space is also on the drawing board, which should ultimately create 3,500 to 4,000 jobs by the end of the project, in seven to 10 years. Another principle that’s close to Yaccarini’s heart is sustainable development. The buildings will meet LEED standards, with underground parking and green roofs wherever possible. Better yet, the project is also designed to have a positive impact on the environment, ensuring that the buildings and infrastructures produce the energy that they consume. Teams are currently at work on designing energy and garbage recovery loops. “We could store the thermal energy produced by restaurant refrigerators and use it to heat the condos. The price would be guaranteed and set below the cost of electricity and natural gas,” says Yaccarini. Garbage will also be turned into energy. The SDA is looking for companies that are willing to come and set up on-site. 46

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madeleine diion

christian yaccarini President and CEO Société de développement Angus

Laval Technopole

Société développement Angus

the Real estate boom in Greater Montréal

the 3055 saint-martin West in laval

Strong signals on the north shore Things are really moving in Laval, in the northern part of the island of Montréal. Gilbert LeBlanc, Vice-President – Development, Investment and Real Estate of the Laval Technopole – an organization with a mandate to promote the city’s economic development – is delighted with the decision by Cominar, the leading real estate investment fund in Québec and the third largest in Canada, to buy Centropolis, a commercial complex designed to resemble a downtown. “The Cominar group is solid and has always been associated with major quality projects. We’re extremely proud to see its development continue on our territory,” he says. Another strong signal that Laval represents an interesting market for investors is the kick-off of Industria 440, on autoroute 440 near autoroute 13, in the heart of a strategic industrial zone. This huge industrial and commercial condo project, developed by Cosoltec and the Fonds immobilier de solidarité FTQ, will generate an estimated $200 million in economic spinoffs. The whole industrial park will be built on a 1.5 million square foot lot, with about a dozen multi-tenant industrial buildings. Another welcome announcement in the manufacturing sector: Lumen, the largest distributor of electrical material in Quebec, is moving from Pointe-Claire to Laval, where the company will build its headquarters and distribution centre at a cost of $100 million. The 385,000 sq. ft. LEED building will be erected on an immense lot measuring nearly a million square feet. The construction of Place Bell ($200 million), a 10,000-seat cultural and sports complex that will include three skating rinks, one for professional hockey, is further cause for rejoicing. Says Leblanc, “This will add a great deal of recreational and tourism activity to the Laval region.” The recent construction of three new office buildings (5 Place Laval, 3055 Saint-Martin West and 3111 Saint-Martin West), as well as several residential projects (Quintessence

patrice gamache architecte

DEL

Mario de tilly President and CEO Développement économique Longueuil

Maple Armor will be located on Clairevue West, in the Saint-Bruno-de-Montarville industrial ecopark

phase 3, AquaBlu, Rosa Nova), bears further testimony to the dynamic spirit that prevails in Laval. “Laval has many advantages for investors and entrepreneurs. You can find workers, and there’s space. There are five major autoroutes, three metro stations and a commuter train. Laval is located right near Montréal, and we have a good complementary relationship,” says LeBlanc. Business brewing on the south shore Mario De Tilly, President and CEO of DEL, the economic development organization for the Longueuil agglomeration, is very happy about the dynamic spirit of his region, as reflected by the vigorous industrial and commercial real estate market. By way of example, he mentions the sale of 50% of Quartier DIX30 in Brossard to the Oxford Properties Group, which will generate investments of about $600 million to densify the sector. Plans are to take the parking underground and build office space, a hotel and housing units instead of more shops. In Longueuil, Agropur – the second largest agricultural food company in Québec – is currently building its headquarters and quality management centre at a cost of $85 million. The projected development around Saint-Hubert Airport is also extremely promising. “This site, 12 million square feet, has the potential to become the largest industrial park in the region. We have projects worth $1.3 billion on the drawing board. In particular, we hope to attract high-tech companies,” says De Tilly.

to be revealed – will also set up shop with an investment of $90 million. Finally, the Écoparc will build a structure to welcome emerging companies ($30 million). “The manufacturing sector creates wealth, and our objective is to develop that sector. To really get into the game, we’re betting on added value, high technology, innovative products. We also want to create an ecosystem of structural elements designed to attract projects and position the region,” says De Tilly.

SOURCING ENERGY MONTRÉAL October 13th 2014

17:43

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There’s no shortage of activity around the Longueuil metro either, with the construction of the SSQ tower ($65 million), a mixed-use project including offices and a 120,000 sq. ft. commercial promenade designed to achieve LEED certification. A tower with rental spaces should also be built near the metro, with work slated to start in mid-2015. Along autoroute 30, the Écoparc Saint-Bruno, an industrial park oriented to sustainable development, is bringing its own good news. Maple Armor Canada Fire Alarm Solutions, a division of a Chinese company, will set up its first plant, covering 100,000 sq. ft., at a cost of $30 million. Another company – the name has yet

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Sept2014_MontrealEconomique_QuartPage_EN_2014-0924.indd 1

2014-09-26 14:44:12

the Real estate boom in Greater Montréal

a major presence in commercial real estate The Urban Development Institute of Québec (UDI) is a big player in the world of commercial real estate. Through its members – promoters, developers, investors, lenders and other partners from related fields – it represents $30 billion in assets in Québec. Here we take a quick look at the role played by UDI Québec and how it sees the Montréal real estate market over the short and medium terms.

ville de montréal

the Urban Development Institute of Québec

Founded in 1987, this independent non-profit organization serves as the voice of the commercial real estate industry in Québec. UDI Québec acts as an intermediary between industry professionals and government agencies, as well as elected officials at the municipal and other levels of government. The ultimate goal is to enhance conditions for growth and competitiveness for the industry as a whole, and, all things considered, for its members.

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President and CEO Mario Lefebvre makes an important distinction: “We don’t represent or defend special interests or individual cases. We pinpoint problems that affect our members generally and we make representatives at various levels aware of these issues. Our association carries the torch for the industry overall.” Mario Lefebvre President and CEO Urban Development Institute of Québec 48

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“This way of doing things is to some extent a new vocation for UDI. Our message is simple, and it’s an extension of our mission: as a group whose members participate in major projects, we want to place our expertise at the service of the city of Montréal. As a result, we’ve decided to take the bull by the horns, give the matter serious thought, and present our recommendations. But this is not a one-way street. Soon we’ll be going to see our members along St. Catherine Street and asking them to do some of the legwork themselves, notably by investing in their buildings to restore the lustre of our main commercial artery,” Lefebvre continues.

SSQ Tower

1225 Saint-Charles Street West, Longueuil

For example, over the past few years UDI Québec has played a role in discussions on the parking tax, pricing of water in Montreal, the moratorium on big-box stores in Québec, and other issues. More recently, it has been actively involved in the project to renew St. Catherine Street W. in Montreal, with work on the major commercial artery slated to start in 2016. “In this context, the Institute has given owners an opportunity to make their voices heard and let the authorities know what impact the work would have on them,” notes Louis Bertrand, Director, Development and Promotions, at Industrial Alliance, and Vice-Chair of the UDI Board of Directors. Crucial issues With the upcoming work on St. Catherine Street, the Institute is intervening at a somewhat deeper level and showing its proactive side. “UDI Québec has presented itself as a real partner in the development of Montreal. Of course, it is in our members’ best interest for the city to be in good shape, and they want to be part of that economic vigour,” says Lefebvre. From that standpoint, the association has set up a committee comprising influential people in the real estate management field, which has produced a report that includes a certain number of recommendations. The document was submitted to the City of Montréal in early October 2014.

TO DO BUSINESS

DELIVERY: 2016

Louis bertrand Director, Development and Promotions Industrial Alliance

THE RIGHT PLACE

Class A category prestige building – aiming for LEED® certification A new 12-storey prestige office tower integrating the principles of sustainable development is now under construction in Longueuil, only steps away from the metro station and the Jacques-Cartier Bridge. The mixed-use office building totalling 250,000 sq. ft. of floor space will include a shopping plaza and some 215,000 sq. ft. of office space for lease. Commercial space covering 35,000 sq. ft. will offer services such as restaurants, shops, specialty boutiques and various other services directly to the building’s occupants. For information:

Commercial

Offices Dominique Saucier 514-686-9497

Kevin Dopp 514-360-3629

Renée Spénard 514-839-3227

Nadia Bélanger 514-609-1002

ssq.ca/ssqtower

38303

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the Real estate boom in Greater Montréal

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“In general, the market seems promising, and some great projects have been announced. On the political front, both municipal and provincial, the right conditions are in place, and the Québec economy overall is solid. The prospects are positive, although there are some challenges to be faced.”

mario caron Senior Partner, in charge of the Canadian real estate law team Norton Rose Fulbright

Since UDI Québec is a member of the mayor’s committee on the St. Catherine Street project, Lefebvre promises that the organization will act as a communication channel. “For example, if our members are not satisfied with how the work is going, we’ll be in a position to relay that information to the mayor,” he says. UDI is also focusing on other important issues. “We will soon be studying the unilateral reductions in tax credits, as well as municipal taxes,” Lefebvre says. He points out that currently, 70% of municipal income comes from the real estate tax – much too high a ratio. “We absolutely must diversify these income sources, because the role of municipalities has really grown much broader over time. With the aging of the population, we’ll be seeing a move to smaller housing units within the next few years. The average value and as a result, taxable value, of these units are lower,” says Lefebvre, adding that it is important to think about this question now so we won’t be caught off guard. Great prospects, major challenges When asked how the real estate market is doing in Montréal, Lefebvre replies enthusiastically. “Right now there are some really positive things happening, and many new projects are seeing the light of day. For instance, I’m thinking of the construction of office towers downtown [the Deloitte, Canderel and Manulife buildings]; we haven’t seen anything like it for years! That’s a real signal.” Lefebvre believes that to attract individuals and businesses, a city must look attractive. “Well, that’s exactly what Montréal is doing, with the renewal of infrastructures, building the superhospitals, and so on. The city is polishing up the family jewels,” he says. In other words, Montréal is giving itself a facelift, which is bound to attract investors. The CEO of the Institute points out that Montréal has other advantages: a commercial hub located in close proximity to the United States, it has a port and airport that position 50

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Montréal as part of the worldwide supply chain. It is also home to several major universities – an undeniable asset for companies in search of qualified workers. “The planets are aligned, and that bodes well for commercial real estate in Montréal,” he says. Mario Caron, Senior Partner in charge of the Canadian real estate law team at Norton Rose Fulbright and chair of the UDI’s Economic Development Committee, is equally confident, with a few minor reservations. “Things are moving in retail, offices, residential. In general, the market seems promising, and some great projects have been announced. On the political front, both municipal and provincial, the right conditions are in place, and the Québec economy overall is solid. The prospects are positive, although there are some challenges to be faced,” he says. Caron points out that office rental rates are perhaps not as high as they should be, which could deflect investors from the Montréal market. “There’s a lot of square footage available, and that’s exerting pressure to lower rents.” Louis Bertrand agrees. “For about five years now, we’ve seen the phenomenon of rationalization of office space by tenants. The market is tending to reposition itself, and owners are finding it harder to get the returns on investment they want,” he says. More than ever, attracting and keeping tenants means focusing on value-added services and commodities (showers, parking space for bicycles, etc.). All the same, Bertrand believes that the situation remains positive, insofar as there are not many new players and the market remains stable. There again, an association like UDI Québec has an important role to play. “We must help Montréal to be attractive, showing investors and companies that the city has many advantages, and promote those assets. In this sense, UDI is here to support elected officials’ reflection process in order to help the city position itself in a highly competitive marketplace,” Caron says in conclusion.

Fonds immobilier de solidarité FTQ

Providing economic leverage for the Québec real estate market The Fonds de solidarité FTQ has net assets of $10.1 billion (as of May 31, 2014), with close to 614,000 shareholders. The mission of the development capital investment fund is to keep the Québec economy humming along. Its real estate arm, the Fonds immobilier de solidarité FTQ, contributes $100 million every year.

The Fonds immobilier de solidarité FTQ was set up by the Fonds de solidarité FTQ in 1991, with a clear mission: to form strategic partnerships with developers and builders in order to invest in residential, industrial, commercial or office projects with spinoff effects that benefit Québec society overall. And so the Fonds immobilier de solidarité FTQ serves as a real lever for the provincial economy. Canderel, Cadillac Fairview, Devimco, Groupe Germain, Prével, Rachel Julien, the Canadian Pacific Railway, the Montréal Canadiens hockey club – that’s just a partial list of partners the Fonds has teamed up with over the nearly 25 years it was set up.

“Our business model is simple: we form equity capital partnerships with co-investors in real estate projects. We dispose of the projects after five to seven years, depending on the economic climate. Partners can then buy back and retain our participation or resell it to another investor,” explains Normand Bélanger, President and CEO of the Fonds immobilier de solidarité FTQ. Because the Fonds invests in real estate projects at the very start – by offering capital stock and mezzanine loans – it gets developers off on the right foot, enabling them to diversify their risks, get several projects going at once and top up the financing provided by traditional lenders.

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Fonds immobilier de solidarité FTQ

the 175 metcalfe in Westmount

normand bélanger President and CEO Fonds immobilier de solidarité FTQ

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Overview of the Quartier des spectacles

“We have 30 projects underway around the province, for a total value of $1.6 billion.” – Normand Bélanger

Griffin on Peel

Fonds immobilier de solidarité FTQ

the Real estate boom in Greater Montréal

The Bassins du Havre, pier 2

A diversified project portfolio The Fonds immobilier de solidarité FTQ invests throughout the province and promotes LEED certified construction techniques. As the Fonds does not believe in speculation, residential and office projects must be at least 50% presold before the start of construction. “We have 30 projects underway around the province, for a total value of $1.6 billion,” says Bélanger. In the Greater Montréal Area alone, residential projects include the Tour des Canadiens, with 555 condos adjacent to the Bell Centre; the Bassins du Havre, District Griffin and the Lowney in the new Griffintown district; and 175 Metcalfe in Westmount. Bélanger points to two other projects currently under development: the Montréal Data Centre, a rental space with servers and offices on rue de l’Inspecteur, and two office towers and commercial rental spaces in the Quartier des spectacles. Recently, the Fonds also announced the launch of the Écoparc Industria 440 industrial and commercial condo project, with about 10 buildings on a million square-foot site in Laval, north of Montréal. These major projects make the Fonds immobilier de solidarité FTQ a highprofile presence on the Québec real estate market. Also in Laval, near the Montmorency metro station, a new downtown is literally rising from the ground. The Fonds owns 500,000 sq. ft. of land on which a mix of residential, commercial and office buildings will be constructed. The first phase, 200 condo units in the Urbania 2 project, has already been launched.

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A real estate giant

Montréal Eaton Centre

With more than $40 billion worth of assets worldwide, Ivanhoé Cambridge is a major player in the real estate market. Its portfolio includes some of the highest-profile buildings in Montréal. The boss shows us around…

Ivanhoé Cambridge is a real estate subsidiary of the Caisse de dépôt et placement du Québec. Its portfolio consists mainly of shopping centres, office and multiresidential properties. In North America, Ivanhoé Cambridge owns 45 properties in the U.S. and 64 in Canada, 25 of those in Québec. A major presence in downtown Montréal, the company has on its roster several of our most emblematic buildings, including the legendar y Place Ville Marie, the Fairmont Queen Elizabeth Hotel, and the tallest skyscraper in the city, 1000 De La Gauchetière. In the commercial sphere, the Complexe Les Ailes, Place Montréal Trust and the Montréal Eaton Centre further bolster the company’s high profile.

A breath of fresh air “We plan to invest a billion dollars in our assets in downtown Montréal,” says Claude Sirois, Co-Chief Operating Officer and Executive Vice President, Québec, for Ivanhoé Cambridge. For one thing, Place Ville Marie’s facelift is well underway. Sirois also believes the time is right to “revamp” the Complexe Les Ailes. “We’re looking at different ways of improving the consumer experience. We’re still in the planning stages, but one thing is sure: our Canada-wide platform gives us a tremendous advantage, and we benefit from our special relationships with retailers.”

Ivanhoé Cambridge

claude sirois Co-Chief Operating Officer and Executive Vice-President, Québec Ivanhoé Cambridge

The Fairmont Queen Elizabeth Hotel will be getting its fair share of the investment. montréal EconomiC MAGAZINE : : 2015 Edition

Fairmont Queen Elizabeth Hotel

Ivanhoé Cambridge

the Real estate boom in Greater Montréal

Place Ville Marie

Also in the cards for 2015 is the construction of an observatory at the top of Place Ville Marie. The redevelopment and facelift will definitely consolidate its position in Montréal’s business and leisure travel market.

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T 514 499 8559 info@mfcicapital.com

Apart from investments in existing buildings, Sirois is glad to mention two other major projects in Montréal. A new head office, the Maison Manuvie, will be built at 900 De Maisonneuve West, conditional on the approval of the acquisition by Manulife of Standard Life’s Canadian-based operations. The financial services group will occupy 11 of the 27 storeys in the building – a project estimated at more than $200 million. Ivanhoé Cambridge will co-own the building with Manulife. It will also include shops and parking, with direct access to the Peel and McGill metro stations. “We want to offer investors a new product, a quality highperformance space with a full range of the very latest technologies,” says Sirois. Also in the cards for 2015 is the construction of an observatory at the top of Place Ville Marie. The “rooftop of Montréal” will include a streetlevel box office and boutique, a foyer on the 43rd floor, a restaurant with terrasses on the 44th floor, a gallery on the 45th and an innovative observatory on the 46th floor. “This will be a totally fresh Montréal experience,” Sirois says with a smile.

Laurence Labat

Menkès Shooner Dagenais LeTourneux Architectes

Reinventing the city by creating sustainable living spaces Promotional report by Suzanne Gagné, writer

Menkès Shooner Dagenais LeTourneux Architectes, the long-time standard-bearer for avant-garde quality in the city of Montréal, designs sustainable buildings that capture the imagination of city dwellers and visitors alike. Just think of buildings like the Centre for Sustainable Development, the first building in Québec to have earned the coveted LEED Platinum certification, the playfully effective refurbishment of the Casino de Montréal, the refined office towers at 900 De Maisonneuve West or the diversity of textures in the Louis Bohème residential complex… The firm, headed by seasoned architects Anik Shooner, Yves Dagenais and Jean-Pierre LeTourneux, is known for the distinctive quality of the living spaces they create. “We always aim for responsible architecture,” says Shooner. “Our goal is to reinvent ourselves and

reinvent the city constantly by bringing together the strengths and talents of a whole network of professionals working towards a common end, to create inspiring architecture that contributes to improving our living environment.” The team attains that objective by defining the needs of the client and occupants in meticulous detail, along with the particular features of the site and the values that the building is intended to embody. That concern for quality has won Menkès Shooner Dagenais LeTourneux Architectes many awards for their projects. Let’s take a look at seven projects that illustrate the broad diversity of the firm’s work. montréal EconomiC MAGAZINE : : 2015 Edition

the Real estate boom in Greater Montréal

the Louis Bohème

A front-row seat for the Quartier des spectacles

Located in the historic Ville-Marie borough right across from the Quartier des spectacles, the Louis Bohème stands tall, a proud melange of textures, especially notable in its modulated openings. “More than 300 people live in this L-shaped residential and commercial complex, which echoes the richness and contrasting qualities of the effervescent environment,” says Jean-Pierre LeTourneux. The 45,000 m2 complex includes 293 units. The façade of the 13-storey first wing, overlooking Bleury Street, features modular aluminum, zinc and glass panels. The 28-storey second wing, overlooking De Maisonneuve, is set off by dark grey precast concrete panels. An inner courtyard for residents only includes private patios and a communal garden that extends the indoor spaces.

Marc Cramer

The building creates a balance between the many cultural activities in the Quartier des spectacles and the residential function of the borough, giving local residents the best of both worlds – all the comforts of home in close proximity to services and shopping.

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Architectural Aluminium and Glass Systems

2014-12-19

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Lessard Group is the leader in design, manufacturing and installation of intelligent building envelope systems for commercial, institutional, industrial and multi-dwelling buildings.

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514 636-3999 www w.lessard.ws 56

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Ahead of needs

Stéphane Groleau

SOPREMA is proud to be associated with MENKÈS SHOONER DAGENAIS LETOURNEUX ARCHITECTES and participate in their many successes!

Pfizer Canada inc. Opening out to the world

When pharmaceutical company Pfizer Canada Inc. repatriated staff from two facilities in Québec and Ontario to its Kirkland head office on the Trans-Canada, the company decided it made sense to completely renovate its four buildings with a total area of 20,860 m2, which would now be accommodating 800 employees, at the same time. Menkès Shooner Dagenais LeTourneux Architectes proceeded with the total renovation of all four buildings. “We stripped part of the buildings right down to the steel beams, which meant we could create new glass façades that unify the buildings and open the company out to the world,” says Jean-Pierre LeTourneux. The Pfizer identity is clear right from the first glance, with the textured façade, walls and furniture, their honeycomb structure reminiscent of pill packaging. Menkès Shooner Dagenais LeTourneux reconfigured the premises to accommodate some 860 work stations – 24% more than the original capacity. Flooded with light, the work stations are surrounded by fluid circulation areas that facilitate interactions between work teams, in accordance with the company’s social values. To create an even more convivial ambiance, the team also changed the ratio of common areas to closed offices, which went from 44/56 to 85/15. The expressive contemporary architecture lends a whole new meaning to this healthful and inspirational workspace.

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Centre for Sustainable Development

A new eco-friendly venue

The first building in Québec to earn the coveted LEED Platinum certification, the Centre for Sustainable Development (Maison du développement durable) is located in the heart of the Quartier des spectacles. The Centre occupies a site that was long vacant, helping to regenerate and highlight the urban fabric. The five-storey eco-building covers 6,360 m2, and is home to several socially-oriented organizations. “Our integrated design process lets us pool our expertise, along with the expertise of the client, professionals and researchers, to find innovative solutions in terms of sustainable development,” says Anik Shooner.

bernard fougère

For example, all the materials used are locally sourced, considered to be sustainable or containing a percentage of recycled materials. Twenty-eight geothermal wells 500 m deep were installed beneath the building in a dense urban environment, an innovative element that generates substantial energy savings and helps to reduce greenhouse gas emissions while giving occupants optimal thermal comfort.

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Triple glazing and the insulation of the building envelope control noise and reduce energy expenditures as well as upping the comfort level. Recycling of rainwater reduces the consumption of drinking water, and a 40 m2 plant colony serves as a natural air filter and humidifier for the building.

Stéphane Groleau

Menkès Shooner Dagenais LeTourneux Architectes

Maison Manuvie

Transcending the workplace environment Right in the heart of the business district, Maison Manuvie, an AAA category building, will meet LEED Gold CS (core and shell) standards.

Among the many distinctive features of the building is the choice of materials, including an ultra-modern curtain wall at ground level that breaks down the barrier between indoors and outdoors. The balance between clear glass and natural stone will also reflect an opening on the city in a sustainable environment. Tenants will enjoy great freedom in organizing their office space, as there will be no columns to work around. No doubt the quality of the building and the level of comfort it provides to occupants will be conducive to productivity and employee retention… “We work together with the physical and human environments,” says Anik Shooner. “Respect for the environment does not mean imitation, however – we seek to transcend it, to improve and enrich it.”

MENKÈS SHOONER DAGENAIS LETOURNEUX Architectes

The team will rehabilitate a 4,437.4 m2 vacant site to construct a 27-storey building with 44,130 m2 of top-end offices over 20 floors, plus a huge, lightfilled two-level lobby. The building will have access to the vast underground city, plus indoor parking for cars and bicycle storage, complete with showers and changing rooms.

Unique, sustainable and innovative solutions! Shared values with Menkès Shooner Dagenais LeTourneux Architectes has led us to the success of many joint projects...

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Casino de Montréal

Reinventing gaming

The Casino de Montréal, located in the former French Pavilion that was built for Expo 67, is one of the most imposing casinos in the world, with four floors of gaming rooms and 50,000 m2 of space. The four-year broad-based modernization process was designed to revamp the ambiance of the building and appeal to the tastes of the 6 million visitors of all ages who visit the Casino every year. One objective of the modernization process was to make the building more functional and improve internal circulation, while respecting the architectural integrity of this historic building. The team began by creating a single entryway that provides access by car and by public transit. The interior is punctuated by a universally recognized gaming theme, with each of the four gaming floors identified differently in terms of furnishings, colours, shapes, lighting and music, creating several different ambiances in the Casino.

“The central concern in this project was to have as little impact as possible on the everyday operations of the Casino,” notes Yves Dagenais. “For example, we opted for a sequential construction plan and meticulously planned mitigation measures.” 60

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Marc Cramer

Of course, the Casino has entered the multimedia era. A monumental 12-m screen stretches up five storeys, with playful, colourful animation which changes according to the time of day.

Casino de Montréal: MENKÈS SHOONER DAGENAIS LETOURNEUX / PROVENCHER ROY Architectes

Stéphane Groleau

Menkès Shooner Dagenais LeTourneux Architectes

YUL

In the heart of the business district, a parking lot on the sprawling site known as “îlot Overdale” has been transformed into the YUL project, a brand new way of conceiving the urban landscape. The project includes two 38-storey towers, 800 condo apartments, 18 townhouses, a six-storey mixed-use extension, and a garden spanning more than 1,600 m2 that joins the buildings. Views over the river and the mountain are spectacular. The project also includes the renovation of the historic Louis-HippolyteLa Fontaine house, built around 1830. The architects enjoyed the challenge of constructing an environmentally friendly building in a high-traffic area. Green roofs and lush vegetation help to attenuate the impact of urban hot spots. Common spaces and spas are partly heated by recapturing the heat from the mechanical and electrical rooms. A heat exchanger will also preheat air in the condos in the winter and chill it in the summer, reducing the building’s natural gas consumption by more than 75,000 m3. “We wanted to optimize the relationship between users’ well-being and the environmental impact, paying particular attention to air quality, the use of low-emission materials and green products in the maintenance of common areas, and manage energy, water and waste properly,” says Shooner. At the end of the day, this architectural project demonstrably and positively harmonizes quality of life for residents with visual benefits for citizens and protection of the environment.

MENKÈS SHOONER DAGENAIS LETOURNEUX Architectes

A whole new way of experiencing the city

YUL: MENKÈS SHOONER DAGENAIS LETOURNEUX Architectes | Stefano Domenici architecte

The right choice for your projects whether it be FITOUTS EXTENSIONS RENOVATION PATRIMONIAL RESTORATION ARCHITECTURAL MILLWORK

1777 Bégin Street Saint-Laurent (Québec) H4R 2B5 514 748-1234 www.prdesjardins.qc.ca

montréal EconomiC MAGAZINE : : 2015 Edition

Maison des étudiants de l’ÉTS

Where innovation and creativity are right at home

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fayolle - magil

pfizer kirkland

Located in historic Griffintown, the new Maison des étudiants, the student residence for the École de technologie supérieure (ÉTS), an affiliate of the Université du Québec network, will be a real bright spot for thousands of students and passersby every day.

Partnering with Menkès Shooner Dagenais LeTourneux Architectes for more than 25 years.

FOR OVER 60 YEARS

1655 De Beauharnois Street West, Montréal, Québec H4N 1J6 | 514 341-9899 | www.magil.com Licence RBQ : 8114-6706-49

montréal EconomiC MAGAZINE : : 2015 Edition

The new five-storey building, covering 21,000 m2, meets the needs of some 7,500 students at the school, centralizing all services in one building, which will also include commercial spaces to be rented out. Features include a large terraced atrium, a tunnel connecting the residence to the main campus, offices and training spaces, a clinic and two floors of underground parking. The project also includes a park that provides outdoor public spaces for the students. A range of sustainable development strategies will be used on the site: exemplary management of construction wastes, performance and durability of the building envelope, green roof and use of reflecting materials for the roofs and sidewalks to reduce the effect of urban hot spots, as well as reduced water consumption. “The Maison des étudiants, with its highly contemporary look, will reflect the occupants’ spirit of innovation and creativity,” says Jean-Pierre LeTourneux.

BUILDING THE FUTURE

Building design was inspired by the ice house that previously occupied the site. Crystal-like volumes and the glass envelope echo the old building, while the print motifs applied to part of the glass façade illustrates the hive of activity at the ÉTS.

MENKÈS SHOONER DAGENAIS LETOURNEUX Architectes

Menkès Shooner Dagenais LeTourneux Architectes

The Cadillac Fairview Corporation Limited is one of North America’s largest owners, operators and developers of commercial real estate. Cadillac Fairview focuses on developing and managing high quality office, retail and mixed-use properties in Canada and the United States, as well as international investments in real estate companies and investment funds. With a portfolio valued at more than $24 billion, Cadillac Fairview and its affiliates own and manage nearly 43 million square feet of leasable space at 73 properties across North America, including some of Canada’s landmark developments, such as TorontoDominion Centre, Toronto Eaton Centre, Pacific Centre and Chinook Centre. Cadillac Fairview is wholly-owned by the Ontario Teachers’ Pension Plan, which invests to secure the retirement income of 307,000 active and retired teachers in Ontario.

Artist concept

fondsimmobilierftq.com

WorKING toGEtHEr to ProMotE ECoNoMIC GroWtH

BUILDING A BETTER FUTURE

For more than 20 years, the Fonds immobilier de solidarité FTQ has been strategically investing with other real estate leaders in profitable and socially responsible flagship projects that create jobs. Collaborating toward the success of its partners, the Fonds immobilier is helping define a more modern approach to urban development, with a view to DRIVE QUÉBEC’S ECONOMY. P r o j E C t: tours quartier des spectacles, Montréal

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