Subjects: PDT, CMG
Haleco: Rethinking urban life - An investment of nearly $200 million in a Montreal redevelopment project
MONTREAL, June 14, 2022 /CNW Telbec/ - Ivanhoé Cambridge, the City of Montreal, Cogir Real Estate and Pomerleau today officially announced Haleco, a unique mixed-use development project (residential, commercial and office) and winner of C40's international Reinventing Cities competition, which will upgrade and transform a site in the area between Old Montreal and Griffintown.
The official start of construction took place on the project site with a groundbreaking ceremony. Construction will last about two years, with delivery of the first rental spaces scheduled for the summer of 2024. The teams at ACDF and L'OEUF Architectes are responsible for project design.
The Government of Canada contributed to the project through a $135 million low-cost loan.
This 31,442-m2 project stands out with its mixed-use approach. In developing the residential rental component of the project, the designers were inspired by an inclusive vision emphasizing mixed use and diversity. The project will include 327 units and 40 community housing units built in cooperation with Bâtir son quartier, which is coordinating the execution of this component of the project. Integrating all the units into a single building will contribute to community spirit and connections between the residents.
Offices will take up two floors, with 1,974 m2 of gross leasable area on the second floor and 2,017 m2 on the third floor.
The retail space will consist of 1,432 m2 of gross leasable area on the ground floor and 994 m2 on the mezzanine level. The ground floor will have a large open public market that will provide a one-of-a-kind gathering place for the project's community and visitors.
The basement will have an urban farm covering approximately 500 m2.
The City of Montreal's satellite garage on de la Commune Street will be relocated to Nazareth Street and will occupy the ground floor.
The project is aiming for LEED Platinum certification with a design focused on energy efficiency. The designers have gone beyond the usual energy-saving parameters for residential buildings with an envelope that stands out for its thermal resistance, resilience and energy performance.
Moreover, special attention has been paid to the project's energy supply; it will have a 100% electric system designed to be as efficient as possible with integrated renewable energy generation systems (heat pumps) on each floor of the building.
Haleco's mission is to contribute to the city's transformation; it aims to ensure a better future for the generations to come by promoting a lifestyle with minimal carbon impact. The developers will offer a complete range of services promoting citizen involvement, for users of the complex and visitors alike.
This offer will include an education program on energy and water consumption, circular economy concepts and mobility choices, as well as workshops on subjects such as bike repair. The project's retail space (the market) will also reflect this goal with, for example, stores selling local products, a Fab Lab (a small-scale workshop with the ability to fabricate and repair almost anything) and a space promoting the circular economy.
The principles of regeneration and preservation of biodiversity guided the choices made by the project designers, who will upgrade the area by creating green spaces accessible to the public ? hence the density of the building on a site where 57% of the land will be revegetated, ensuring greater respect for the surrounding biodiversity. The project will include a community garden, fruit trees and a pollinator garden, with native and adapted species that will contribute to the area's revegetation.
Haleco is a winner of C40's international Reinventing Cities competition, carried out with the City of Montreal. This collaborative initiative, linking C40 with cities around the world, encourages the development of low-carbon housing and community models that offer innovative solutions to the challenges of climate change and urbanization.
The project team will continue to work with the City of Montreal and C40 by producing an annual report for 10 years to demonstrate the achievement of a number of concrete actions related to the goal of a minimal carbon impact.
"Ivanhoé Cambridge is proud to carry out this urban redevelopment project in the heart of our city. It reflects not only our willingness to invest in Quebec but also our commitment to achieve carbon neutrality in our portfolio by 2040. With its innovative architecture and urban design based on a very strong eco-responsible and inclusive approach, we have no doubt that this project will enable us to create long-term value for our depositors and our community," said Élise Proulx, Head, Quebec Economic Development, Ivanhoé Cambridge.
"In terms of development, Cogir Real Estate's choices are becoming clearer because we feel the urgent need to act. Our commitment is concrete. We're aiming for the emergence of a smart city that uses renewable energy. Active involvement by Haleco's community and occupants is vital to its functioning. For example, the community space, much like a public market, will become a place where people learn to live in harmony. I think this approach meets the goals of the C40 project and the City of Montreal. We must collectively adopt new solutions to climate change. I'd also like to thank all the partners. This kind of collaboration is enabling us to build tomorrow's spaces today," said Stéphane Côté, Partner, President of the Major Projects Division, Cogir Real Estate.
"Our mission at Pomerleau is not only about creating infrastructures and constructing buildings; importantly, it's also about helping communities grow. To that end, we are committed to constantly innovating, so that we can work in more engaged, collaborative and sustainable ways. The Haleco project is proof that we can redefine our practice and rethink city living. We are proud to be part of the movement toward more environmentally and socially responsible cities," said Pierre Pomerleau, President and CEO, Pomerleau
"We are committed to ensuring that housing needs are met here in Montreal and across Canada. Our government's investment of $135 million for this 327-unit project will increase the supply of rental housing in the area, while creating well-paying jobs for the middle class and strengthening the local economy. This is the National Housing Strategy in action," added the Honourable Ahmed Hussen, Minister of Housing AND Diversity and Inclusion
"Every Canadian deserves a safe and affordable place to call home. That's why, through this investment in Demain Montréal and others just like it, our government is taking action to not only increase the supply of new rental developments, but to also provide housing options that are closer to jobs, services and amenities that middle-class families in Montreal need," added the Honourable Marc Miller, Minister of Crown-Indigenous Relations and Member of Parliament for Ville-Marie- Le Sud-Ouest-Île des-Soeurs
"Our administration is working actively on multiple fronts to accelerate the green transition and build complete, affordable living environments. This environmentally responsible building complex corresponds in every respect to our vision of an exemplary neighbourhood, with green spaces, a residential mix including social and affordable housing, as well as retail and business spaces. As a member of the C40 network, we are committed to engaging the business and political communities to make green, inclusive projects like Haleco a reality. I commend Ivanhoé Cambridge, Cogir Immobilier and Pomerleau for their work, which will provide the Borough of Ville-Marie with a project that sets an example internationally," said Valérie Plante, Mayor of Montréal
"C40 is delighted to see this beautiful project, a winner of the first edition of Reinventing Cities in Montreal, come to fruition. Haleco is an exemplary, ambitious project, not only because of its rigorous approach to reduction of GHG emissions and the environmental impacts of the building, but also because it will create a new living and meeting place that will help Montrealers adopt a more sustainable way of life. This mixed project, comprising community housing, urban agriculture, a new park, a Fab Lab, a space dedicated to the circular economy and businesses committed to the ecological transition, is a fine example of urban development that combines environmental excellence and services for local populations," commented Hélène Chartier, Director of Urban Planning and Design at C40.
Website: www.haleco.ca
Project address: 995, rue de la Commune ouest, Montréal, QC H3C 4H5
Architectural renderings of the project are available here.
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,200 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$69 billion in real estate assets as of December 31, 2021 and is a real estate subsidiary of Caisse de dépôt et placement du Québec (cdpq.com), a global investment group. For more information: ivanhoecambridge.com.
Incorporated in 1995, Cogir Real Estate employs close to 5,000 people who are passionate about real estate. With our constant desire to give purpose to real estate, we strive to maintain a human focus, to create and to excel in our quest to design living environments that are pleasant, functional and a reflection of their occupants. Our team manages over 260 properties throughout Canada and the United States. We oversee 5 million square feet of commercial property and 32,000 housing units, including more than 70 privately owned seniors' residences. The Cogir Foundation supports projects and causes involving four major domains, namely youth, seniors, cultural diversity and the environment. https://www.cogir.net/
Pomerleau is one of Canada's leading construction companies and a leader in sustainable buildings. The company specializes in the building, infrastructure and civil engineering and it also excels in virtual design and construction (VDC). Founded 60 years ago, the company employs 4,000 people at its eight regional offices and on nearly 200 worksites across the country. Pomerleau is the parent company of Borea Construction, the Canadian leader in renewable energy construction and owns Pomerleau Capital its private infrastructure investment and financing subsidiary. Since 2020, Pomerleau is part of Canada's Top 100 Employers. For details about Pomerleau, visit www.pomerleau.ca.
SOURCE Ivanhoé Cambridge Inc.
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