Solar Uniquartier : Devimco sells 95% of units in Magellan Condos, the first residential phase of Quebec’s largest mixed-use development project, and moves up phase 2 to meet high demand
BROSSARD, November 21, 2017 – In November Devimco Immobilier launched the first phase of its Magellan Condos project, located on the site of Quebec’s largest mixed-use real estate development project, SOLAR UNIQUARTIER. Today Devimco Immobilier confirms that 95% of the units have been sold. The developer partnered with Fonds immobilier de solidarité FTQ and Fondaction for the project.
“The enthusiasm for the first phase of residential properties in SOLAR UNIQUARTIER was so great that 129 of the 136 first-round units were sold within a month. So we are moving up the launch of Phase 2 to early 2018 to meet high demand,” announced Devimco Immobilier President Serge Goulet.
With more than 200 units over 15 stories, Phase 2 will meet clients’ needs and market demand. Built around the future Réseau électrique métropolitain (REM), Magellan Condos will be the first residential development connected to the REM (the Du Quartier station) by an indoor tunnel. “The concept is beyond innovative. Residents can get downtown in 10 minutes and even go to the airport without ever having to step outside. We wanted to offer buyers an integrated lifestyle oriented around smart transit,” said Mr. Goulet.
Drawing on a modern, forward-looking architectural concept, Devimco Immobilier will build units outfitted with smart solutions to make spaces that work better for residents. The project will also contribute to sustainable development and economic growth in the region.
Magellan Condos will feature towers made of concrete and contemporary urban units rivaling similar buildings in downtown Montreal. The units will feature premium soundproofing and abundant windows offering unobstructed views. The project will also include a state-of-the-art fitness center, a multipurpose room, a parking garage, and large common areas.
Potential buyers are encouraged to sign up at magellancondos.com to be invited to the launch of Phase 2 in spring 2018.
The entire SOLAR UNIQUARTIER project will include:
• 2,600 residential units
• A huge, 12,000 m2 central green space
• 1.2 million square feet of commercial and office space
• A hotel, conference center, and multi-use complex
• A versatile public event space across from the Du Quartier station with capacity for 5,000 spectators
About Devimco Immobilier
Devimco Immobilier is a Québec real estate development leader that stands out for the creation and execution of large real estate projects, in particular lifestyle and TOD (transit-oriented development) complexes that combine commercial, business, leisure and housing components. The company’s real estate projects are noteworthy for producing unique living environments that take the needs of the people in the community into account. It was the first real estate company in the country to develop a lifestyle complex, with Quartier DIX30TM.
Since 2005, in Griffintown, Devimco Immobilier has been building and expanding the District GriffinTM project, a living environment where the entire social fabric of a true community will be represented. Moreover, in 2017, it launched its Square Children’s project on the site of the former Montreal Children’s Hospital, bringing a major community centre and social housing onto the site as well as developing new green spaces and restoring the site’s oldest building.
About Fonds immobilier de solidarité FTQ
Launched in 1991, the Fonds immobilier de solidarité FTQ promotes economic growth and employment in Québec by strategically investing in profitable and socially responsible real estate projects in partnership with other industry leaders. The Fonds immobilier backs residential, office, commercial, institutional and industrial projects of all sizes across Québec. At May 31, 2017, the Fonds immobilier had 49 projects in progress, 45 properties under management, 14 million ft2 of land and $69 million invested in affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council.
Fondaction invests in Québec SMEs to help maintain and create jobs in Québec based on principles of sustainable development. It manages more than $1.7 billion in assets drawn from the retirement savings of more than 137,000 shareholders. Through its investments and commitments, either directly or through partner or specialized funds, Fondaction supports the development of more thaan 1,200 SMEs, including many social economy enterprises, that make a distinctive contribution to Québec’s economic, social and environmental development.