The real estate arm of Ontario Teachers’ Pension Plan, Cadillac Fairview, has updated its plans to develop downtown Montreal.

Including the Tour des Canadiens residential development and Deloitte Tower already under way, the company will build a total of nine new buildings. Five residential towers and two office towers will be built south of Saint-Antoine Street, over the next 15 years.

“Today’s announcement is part of our $2-billion development plan, which, once completed, will completely transform the downtown core, creating a new district that offers a modern, state-of-the-art place to work and live, called Quad Windsor,” says Salvatore Iacono, senior vice-president, development and portfolio management, Eastern Canada, with Cadillac Fairview.

The proposed project will be completed in four phases:

  • The first phase includes two residential towers located at 1150 and 1250 Saint-Antoine West, in the block formed by de la Montagne, Saint-Antoine, Jean d’Estrées and Torrance streets.
  • The second phase of development includes two office towers located at 750 Peel, for a total leasable area of 1.1 million square feet.
  • The third phase is planned at 600 Peel and features three residential towers facing Peel and Saint-Jacques streets.
  • The final phase will be the improvement of Windsor Station, a former rail station in the city.
  • “We are aiming for a mixed-use development that includes office, residential and retail components, for a total of more than four million square feet,” he adds.

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    Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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