Montreal’s skyline might soon be changing.
Local developers are planning to build two residential towers, each more than 50 storeys high, in the heart of downtown Montreal.
Devimco is proposing to build the sleek towers on the footprint left by the demolition of the Spectrum nightclub, on Ste. Catherine St. between Bleury and Jeanne Mance, in the middle of the Place des Festivals.
It’s currently an empty lot.
One tower will have 53 floors, while the second will have 51, with room for 1000 condominiums and 500 apartments for rent.
The 25th floors of the towers will be joined by a walkway where residents will be able to watch events taking place in the Quartier des Spectacles.
“It's slim towers. Only 10,000 square feet, so that's the reason we are so high,” said Pierre Pelletier of Fiera Properties, which is working on the Devimco project along with FTQ real estate.
If the $700-million project is approved, construction will to begin at the end of 2019 and take three years to complete.
There will be a large commercial section at the base of the towers will be that will include a movie theatre, music studios, and other spaces for artistic workshops.
“Like Toronto or Vancouver, we are going to being a really big city. And people want to live inside the city with big activities and not too far from the office,” said Pelletier.
It’s an indication of renewed interest in the eastern part of downtown Montreal,” said Michel Leblanc, president of the Montreal Chamber of Commerce.
“There's some development in the east, and I think this tower reflects this movement where the east side of downtown gets developed over the next years,” he said.
Leblanc believes added residential properties will only help local businesses.
“I suspect that all the stores on Ste. Catherine, on the east part, will see lots of new customers, perhaps new restaurants, perhaps new businesses,” he said.
The purchase of the land has yet to be finalized.
The companies involved are also donating $100,000 to youth foundations so that 1,250 children will be able to take art classes over the next several years.
Devimco is also responsible for the multi-tower project being built on the site of the former Montreal Children's Hospital.
