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Cadillac Fairview unveils plans for new and exciting development in Montreal

Montreal (QC) March 30, 2011 - Cadillac Fairview is proud to announce that the zoning is in place for a mixed-use development for the Bell Centre area in downtown Montreal.

The plans include an investment of close to $400 million in the four-tower project consisting of an office tower and three condominium towers.

“We have spent $150 million purchasing 5 million square feet of land around the Bell Centre for an office, retail, hotel and residential project similar to the Maple Leaf Square development in downtown Toronto,” said Sal Iacono, Senior Vice-President of Development for Cadillac Fairview’s Eastern Portfolio.

The goal is to start construction on at least one of the condo towers before the end of next year and begin marketing the residential project by the end of the year or early 2012.

The new towers around the Bell Centre would be Phase 1 of Cadillac Fairview’s overall plan.

The plan includes:

• A 27-storey office tower on St. Antoine with 500,000 square feet of rental space.
• A condo complex with a total of about 710 units, spread over three towers. Two would be about 44 storeys, at Mountain St. and Canadiens de Montréal Ave., currently the site of Centennial Plaza.
• A third 25-storey glass tower that includes the already-constructed 10-floor office building on which the condo structure would be erected.