MONTREAL — Cadillac Fairview Corp. is setting its sights on hockey fans again in an attempt to sell real estate. But this time, it’s targeting partisans of the game’s most decorated professional team — the Montreal Canadiens.
The Toronto-based real estate investor is partnering with the Canderel Group, labour fund Fonds de Solidarité FTQ and the Molson family-controlled Canadiens hockey club to build a new residential skyscraper attached to the city’s downtown Bell Centre, home of the Habs.
Details of the plan are to be unveiled Monday, but according to project applications filed with the City of Montreal, the general concept is strikingly similar to Cadillac’s Maple Leaf Square development in Toronto – a residential condo tower linked to the hockey arena with a busy sports bar, restaurant and option for a high-end hotel.
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The first 14 storeys of the Montreal tower will house a bar, a restaurant, a fitness centre, interior parking for 400 vehicles and a sky lobby to access the condos above, according to a project description filed with the city. Above that will be 47 storeys for 700 private residences although a hotel may be added that would reduce the condo count.
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“I think the area [around the Bell Centre] has already got a buzz. But this is going to put that buzz on steroids,” said Bernie Marcotte, senior managing director of real estate consultancy Cushman & Wakefield Ltd. in Montreal.
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Cadillac’s announcement comes amid a significant expansion in condo apartment construction overall in Quebec, which is raising concerns that prices are set to drop if demand slows. At least one other developer, Broccolini, has announced plans for a condo tower in the immediate Bell Centre area.
A rendering of new building. Looks sharp, like the Habs symbol! If its similar to Maple Leafs Square, it will be a nice place for fans to gather before, after and during the game.
Last edited by HookeyPlayer: 07-13-2012 at 11:59 AM.
Would rather they build an institution dedicated to Habs/Hockey rather than condos. Should be a museum, office, bar, mall etc. Anything open to public, and not really real estate.
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"Our priority is finding the best possible person to help us win." - Geoff Molson
Would rather they build an institution dedicated to Habs/Hockey rather than condos. Should be a museum, office, bar, mall etc. Anything open to public, and not really real estate.
You don't make money off a museum(relative to a condo/hotel). I personally don't mind the project at all.
I vaguely remember that the original plans for the Molson Center included four towers at each of the building's corners, and that the structure was built so that they could be added later.
It's kind of cool that this will finally happen almost 20 years later.
They did something like this in Toronto didn't they?
It's definitely a good spot. Within walking distance to the train station, a bunch of metro stops, near st-catherine's and a bunch of other popular streets. Those condos are gonna sell like hot cakes.
You probably ask yourself how did I ever get into Business school??
Studying something doesn't mean you're actually good at it. They're in the business to make money, not promote the Habs' and hockey's history... well, yes, for the long run, but make money first and foremost.
I don't mind the project either, not that I have anything to say about it anyways. I, too, wonder about the longevity of the structure... but then again the insides of the Bell Center could always be rearranged to use it for something else eventually, while the tower would remain unchanged.
