New 107-unit project announced in Montreal harbour basin redevelopment
A partnership of investment and real estate firms announced Thursday the second phase of Pier 2, a 107-unit townhouse development on former harbour basins along the Lachine Canal in Montreal.
Developpement des Bassins Inc. includes real estate Prevel Group; condominium developer Rachel Julien; labour-sponsored investment fund Fonds immobilier de solidarite FTQ; and Claridge Inc., a Montreal investment firm representing the interests of the Bronfman family.
The partnership said in a press release that the second phase of the Bassins du Havre, a real estate project located along the Lachine canal in Griffintown, will be built east of Pier 1, which is currently under construction.
Situated in the Sud-Ouest borough, or arrondissement, of Montreal, Bassins du Havre is a 10-hectare site bounded on the north by Rue Ottawa, on the east by Rue du Seminaire and on the west by Rue Richmond.
It is part of a redevelopment, mandated by the federal government to Canada Lands Company, of four harbour basins that were filled in during the 1960s.
Scheduled for delivery in 2014, Pier 2 will have a greater proportion of two- and three-bedroom units than Pier 1 on eight floors, Developpement des Bassins stated. The homes will be up to 2,680 square feet in size.
Construction of Pier 1 started in December.
"Dozens of workers are on site every day, building what will become, once completed, a new neighbourhood of more than 1,800 housing units on the Lachine canal,” Fonds immobilier de solidarite FTQ stated in a press release. “At the end of the twelve phases planned in the project, 4,600 jobs will have been created or maintained.”