MONTRÉAL, Aug. 19, 2024 /CNW/ -
Groupe HD, in partnership with Fondaction, announces the
acquisition of a 72,000-square-foot property located at 1855
Dollard Avenue, near the intersection of Newman Boulevard in
LaSalle. The aim of this
transaction is to revitalize this former commercial site of a car
dealership into a 155-unit multi-family residential project.
The project is in line with LaSalle borough's ecological transition
objectives and meets a number of its criteria, such as enhanced
site greening, sustainable building and development, and
eco-responsible parking management. The project is seeking LEED
certification and energy performance 40% above the National Energy
Code of Canada for Buildings
(NECB) standard, guaranteeing a high level of efficiency
that will provide a quality living environment for future
residents.
The partners are committed to sustainable and social
development, and have confirmed the inclusion of 16 affordable
housing units in the project. To ensure diversity among the
individuals and families who will benefit from these units, the
project will include studio apartments, one-, two- and
three-bedroom units, all offered at prices 20% to 30% below market
value. This initiative aims to make a significant impact by meeting
the pressing need for new, affordable, quality housing in
LaSalle borough.
Thomas Dufour, Co-President,
Groupe HD, explains: "This new project reflects our values of
social responsibility and sustainable construction. By working with
Fondaction, we are contributing to the common effort to provide
more quality housing, including affordable units, during a time of
shortage. This approach aligns with our vision of inclusive and
sustainable urban development."
And Marc-André Binette, Deputy Chief Investment Officer,
Fondaction, notes: " This project is consistent with
Fondaction's strategy for sustainable real estate and adaptation to
climate change, in particular through its energy efficiency and
LEED certification. What's more, the transformation of this almost
entirely paved site into green space will reduce heat islands while
increasing the ratio of green space in an urban setting."
Construction is scheduled to start in winter 2025. The
five-floor building will feature two levels of underground parking,
including electric charging stations, bicycle storage and a
pet-cleaning bay, as well as a number of common areas comprising a
very large lobby, a collaborative space, a lounge, a fitness room,
a rooftop terrace with swimming pool and a landscaped
courtyard.
Project overview
Investment: $55
million
Developer: Groupe HD
Financial partner: Fondaction
Lender: Desjardins
General contractor: Construction Praxis
Architects: NEUF Architect(e)s
Landscaping design: BC2
About the partners
Groupe HD
A Québec-based company, Groupe HD
specializes in residential real estate investment, development,
construction, and management. Its ambition is to redefine
tomorrow's housing by designing and building large-scale real
estate projects that meet the needs of communities and
municipalities. To date, the company is involved in numerous
developments totaling nearly 4,000 residential units, divided
between condominiums and multi-tenant buildings, with a value
exceeding 1.75 billion dollars.
Groupe HD is constantly rethinking and adapting its methods to
create integrated living spaces for today's and tomorrow's
generations.
Fondaction
A forerunner for over 25 years,
Fondaction is the investment fund for individuals and companies
that are mobilizing for the positive transformation of Québec's
economy, making it more equitable, inclusive, green and successful.
As a labour-sponsored fund created at the initiative of the CSN,
Fondaction represents tens of thousands of savers and hundreds of
companies committed to helping Québec progress. It manages more
than $3.77 billion in net assets as
at May 31, 2024, invested in hundreds of businesses and on the
financial markets, prioritizing investments that generate positive
economic, social and environmental spinoffs in addition to a
financial return. Fondaction helps maintain and create jobs, reduce
inequalities and combat climate change. For more information, visit
fondaction.com or our LinkedIn page.
SOURCE Groupe HD