O-Rive Residential Development Breaks Ground in Montréal-Est

A project by Group Evoludev in partnership with the Fonds immobilier de solidarité FTQ

MONTRÉAL-EST, Feb. 29, 2024 /CNW/ - Groupe Evoludev and the Fonds immobilier de solidarité FTQ have started construction on O-Rive, a rental housing project in a redeveloping Montréal-Est neighbourhood. Scheduled for delivery in summer 2025, the building on Broadway Avenue will feature 117 rental units spread over 6 floors, plus ground-floor retail space. On hand for the groundbreaking ceremony were Chantal Rouleau, Minister Responsible for Social Solidarity and Community Action and MNA for Pointe-aux-Trembles, Anne St-Laurent, Mayor of Montréal-Est, Alexandre Gauthier and Jonathan Trudel of Groupe Evoludev, and Martin Raymond of the Fonds immobilier de solidarité FTQ.

O-Rive is a timely project that will provide affordable quality housing in an area slated for redevelopment in Montréal's east end. The project will help breathe new life into the area and promote mixed-use development through its commercial component. Its architectural style and density will appeal to pedestrians and residents alike. Ten percent of the units will be set aside for affordable housing.

Built with sustainability in mind, O-Rive will be a high-density building that exceeds the energy performance requirements of Canada's National Energy Code for Buildings. Heat islands will be reduced by integrating a rooftop vegetable garden and 105 underground parking spaces on two levels, along with 25 municipal parking spaces including EV charging stations and bike storage. Natural resources will be conserved thanks to rainwater management via an underground retention basin and energy-efficient faucets to reduce drinking water consumption.

Built close to sports facilities, parks, schools and green spaces to ensure the well-being of its residents, O-Rive will offer quick and easy access to public transit and major roads (Highway 40, Notre-Dame and Sherbrooke streets).

"The housing shortage is a major issue in Québec. The administration, our elected officials and I have worked closely with Evoludev since they presented the O-Rive project to us. I would like to thank all those who have made this project possible, including Groupe Evoludev and the Fonds immobilier de solidarité FTQ. The attention paid to accessibility, sustainability, mixed use and integration into the environment makes this building an excellent addition to our city. We therefore applaud this initiative, which will add quality housing for a diverse clientele in Montréal-Est. We are delighted to see a new building built on Broadway Avenue, because we firmly believe that its completion and the arrival of new residents will contribute to the revitalization and vitality of our downtown area. We are looking forward to welcoming them  to our east end community."

Anne St-Laurent,
Mayor, Montréal-Est

"Montréal-Est is a growing municipality with a revitalization vision. Today's groundbreaking is concrete proof that Montréal's east end is transitioning to a green and blue environment. I commend the efforts made by Ville de Montréal-Est and Groupe Evoludev in designing O-Rive, a six-storey accessible complex that will increase the area's density and expand its commercial offer. Thanks to the work teams of the municipality and its many partners, Montréal-Est is becoming a location of choice for people of all ages and families who want to live in the city."

Chantal Rouleau,
Minister Responsible for Social Solidarity and Community Action

"We are excited to officially launch O-Rive. More than ever, all the parties involved in a housing project must work closely together to make it happen. This development is fully in line with our mission to reinvent real estate by forging solid partnerships to create exceptional living spaces, in this case in partnership with the Fonds immobilier de solidarité FTQ and the city of Montréal-Est, with whom, together, we will enable 117 families to live in this revitalized area. Today, we see once again that regardless of the challenge, when we work as a team, anything is possible."

Jonathan Trudel,
President, Groupe Evoludev

"For over 30 years, the Fonds immobilier has played a key role in increasing the housing supply across Québec. To restore balance, the priority is to increase the availability of different types of housing, and our investment in these 117 new units is a fine example of this. Like us, the team at Groupe Evoludev, a rapidly growing company, is committed to the development of sustainable projects to address citizens' concerns."

Martin Raymond,
President and CEO, Fonds immobilier de solidarité FTQ

The Fonds immobilier de solidarité FTQ drives economic growth and employment in Québec by strategically investing in profitable and socially responsible real estate projects in partnership with leading industry players. The Fonds immobilier supports projects across Québec in the residential, office, commercial, institutional and industrial sectors, in particular those that consider ESG  (environmental, social, governance) factors with a view to developing sustainable properties.  As at December 31, 2023, the Fonds immobilier had 44 projects with a combined value of $5.7 billion in development or construction, 80 portfolio properties under management, 3.5 million square feet of land for development and a cumulative total of $345 million invested in social and community projects. The Fonds immobilier is a member of the Canada Green Building Council ? Québec division.

Composed of a team of multidisciplinary experts and recognized as a leader in real estate development, Groupe Evoludev seeks to create exceptional living spaces in the greater Montréal area. Its mission is to reinvent real estate investment through solid partnerships by building exceptional housing. The company stands out for its highly rigorous, constantly evolving approach, aimed at surpassing the expectations of its customers and partners.

SOURCE Fonds de solidarité FTQ