Devimco Immobilier chosen by Club Sportif MAA to develop a real estate project conceived around the club's revitalization

Club Sportif MAA members will be relocated during construction of the mixed-use project

MONTREAL, Oct. 23, 2018 /CNW Telbec/ - Following a call for tenders, Devimco Immobilier has been selected by Club Sportif MAA to develop a real estate project comprising more than 300 condominiums on Peel Street, directly South of Sherbrooke Street. Once completed, the 33-storey project will feature a revitalized Club Sportif MAA.

"We are proud to have been selected to develop this project of great historical significance and, above all, to oversee the very first mixed used project of this type in Québec," said Serge Goulet, President of Devimco Immobilier. "This is a unique partnership between two leaders in their respective fields."

For his part, Pierre Blanchet, President and CEO of Club Sportif MAA, stated: "We chose Devimco because of its expertise in urban real estate development and mixed-use projects. This developer also offered the fastest timeline for Club Sportif MAA's relocation, thereby ensuring a smooth transition for our members." He continued: "This revitalization will help perpetuate the Club for decades to come for the benefit of our loyal members."

This $150-million project, both stylish and welcoming, will offer an array of services designed to upscale hotel standards. An elegant blend of glass and noble materials featured in the understated but high-end and contemporary architecture will highlight the cachet and opulence of the façade of the restored existing building. A budget of $20 million is planned for reconstruction of Club Sportif MAA.  

Condo sales will begin in February 2019.  

Highlights of the real estate project

• More than 300 units (from studios to 7,500 square feet penthouses)
• 31 residential floors and 45,000 square feet for Club Sportif MAA
• Indoor pool
• Penthouses with outdoor balconies
• Indoor parking

Preserving urban heritage

Another reason for choosing Devimco is its pledge to enhance and preserve the urban heritage. Both partners have the firm intention of enhancing the building through the Club's revitalization. Its façade on Peel Street will undergo extensive renovation, restoration and improvement to restore it to its original appearance.

In addition, the dissemination and display of the MAA's major archival collection, consisting of sports artifacts and historical documents, will be a key element in the Club's new interior design, giving the institution new verve through its sports history.

The goal of Devimco Immobilier and Club Sportif MAA is to preserve the MAA's history while providing a new state-of-the-art environment for its members.?

Historical aspect

One of the country's most respected clubs, with its 137 years of history, Club Sportif MAA has great historical importance. The winner of four Stanley Cups (1893, 1894, 1902 and 1903), Grey Cup champion (1931) and the home club of Canada's first Olympic gold medallist, Étienne Desmarteau (1904), the MAA was also voted best fitness club in the country by Reader's Digest in 2006.

Club members

Club Sportif MAA has identified some relocation options in order to enable all its members to continue their sports and fitness activities and employees to maintain top-quality service between the start of work in August 2019 and the completion of construction, scheduled for 2021.

The 2,800 members of Club Sportif MAA will have the choice of continuing their memberships or cancelling them if the temporary location does not suit them. In order to meet members' expectations, the brand-new building will include a modern and high-end multisports club that will far surpass the former facility in terms of variety and quality.

"Upon our return to Peel Street, the new and revitalized MAA will provide a perfect balance between history and contemporary, encouraging the well-being of current and future members," Mr. Blanchet added.

About Devimco Immobilier

Devimco Immobilier is a Quebec real estate development leader that stands out for the creation and execution of large real estate projects, in particular lifestyle and TOD (transit-oriented development) complexes that combine commercial, business, leisure, and housing components. The company's real estate projects are noteworthy for producing unique living environments that take the needs of the people in the community into account. Devimco Immobilier was the first real estate company in the country to develop a lifestyle complex, with Quartier DIX30^TM.

Since 2005 Devimco Immobilier has been developing District Griffin^TM a vibrant area where a genuine community is taking root. Other projects include SOLAR UNIQUARTIER^TM, the largest (TOD) project in Quebec, a $1.3 billion development that will become a South Shore hub at the northwest intersection of highways 10 and 30. Devimco Immobilier is also building Square Children's^TM, a new flagship project revitalizing the former site of the Montreal Children's Hospital and the entire neighbourhood. Devimco was selected by the City of Longueuil for a $500 million mixed-use project above the Longueuil?Université-de Sherbrooke métro station.

Devimco was a star performer in 2017, selling one-third of all new residential condos purchased in downtown Montreal in one of the most active real estate years in Montreal history.

www.devimco.com

About Club Sportif MAA

Club Sportif MAA was originally known as the Montreal Amateur Athletic Association (M.A.A.A.) when it was established in 1881 in Westmount. It was born from the merger and vision of three founding clubs: Montreal Snow Shoe Club, Montreal Lacrosse Club and Montreal Bicycle Club. The vision: to enable young Montrealers to practise sports for the competitive, health and social aspects. In 1905, it moved to the current Peel Street building to prosper and welcome a larger membership. Today, some 137 years after opening, it continues to be home to a number of renowned athletes, as well as a clientele consisting primarily of downtown businesspeople, enabling all members to meet their goals of performance, health and well-being. The Club has been the benchmark for fitness downtown since 1881.

SOURCE Devimco Immobilier