The Quebec report is a joint publication between
RENX (Real Estate News Exchange) and Le pied carré.
Montreal Real Estate Market: Best September on Record
Sales in the Montreal Metropolitan Area increased by 5 per cent in September 2009 compared to September 2008, according to the Greater Montreal Real Estate Board's MLS statistics. Property prices also continued to climb, with a 7 per cent increase in median price for single-family homes.
"September 2009 was the best September on record for the Montreal market. We're seeing a balanced market now, so both buyers and sellers are benefiting," said Michel Beausejour, FCA, Chief Executive Officer of the GMREB.
In terms of sales, single-family homes led the way with an 8 per cent increase in September 2009 compared to the same month last year, while condominium and plex sales increased by 1 and 3 per cent, respectively.
As for prices, the median price of single-family homes and condominiums increased by 7 per cent in September 2009 compared to September 2008. Plexes also stood their ground, with a 5 per cent increase in median price.
"Montreal's real estate prices have continued to increase slowly but steadily, once again confirming that Montreal is not only a desirable place to live, but also a solid investment so far as real estate is concerned," added Mr. Beausejour.
Geographically, the Vaudreuil-Soulanges area stood out in September 2009 with a 40 per cent increase in sales compared to September 2008. The Island of Montreal and the South Shore also turned in strong performances, as sales in both of these areas increased by 9 per cent. The number of transactions increased by 3 per cent in Laval and decreased by 9 per cent on the North Shore.
As at September 30, 2009, the number of active listings on the MLS system decreased by 7 per cent in comparison with the same date last year.
Condo Popularity Growing in Quebec
The popularity of condominiums is growing in Quebec. The growth is particularly important in urban areas and within households with few or no children.
These results are derived from demographic data from the l'Institut de la statistique du Québec. Their data indicates that demand for such properties has soared by 49% between 2001 and 2006.
L’Institut contends that 94% of condo owners are concentrated in one of the six census metropolitan areas in 2006: three-quarters opted for one of Montreal. Despite this notable progress, the proportion of condo owners compared to all types of properties is less than 15% across Quebec. Elsewhere in Canada, this proportion is much higher. In British Columbia, for example, some areas have a third of their housing stock dominated by condominiums.
This shows that the Quebec figures seem rather low when compared to the rest of Canada. However, L’Institut argues that the trend over the past 15 years suggests that interest will only continue to increase.
New Nuns’ Island development project takes shape
One of Montreal’s more innovative real estate development firms announced how the shovels were going into the ground for the first phase of a major new development project on the vacant northern shores of Nuns’ Island.
“Our objectives were very clear,” said Proment Corporation president Samuel Gewurz. “We want to make the northern shores of Nuns’ Island a great place to live. We want to create a distinctive environment that offers the parks and greenery of Nuns’ Island but with an urban touch.”
Located on the northern tip of Nuns’ Island, the company expects to build over a million square feet of residential space for a total real estate development value of over $700 million. As a mixed use residential development, the project will include approximately 1,600 residential units and assorted local business venues which will also include townhouses, lofts and regular condo units. Founded in 1965, Proment is well known for its innovative residential projects. As for its Pointe du Nord project, Gewurz said more than three years of planning and consultation with urban planners and various architects in both Canada and the United States have already produced viable results. Three new parks, a waterfront and small boat access to the river will dominate the project’s urban plan as well as define the well organized green spaces for which the island is already famous. The company is working in close collaboration with City of Verdun planners as both entities share a common concern for the island’s public green space. Both city and project planners intend to make full use of the old Le Ber farm’s rich archeological heritage which is expected to dominate and define the project’s riverside park.
“In terms of any development on the District of Nuns’ Island,” said Verdun Mayor Claude Trudel, “we have always favoured projects that are designed with a certain harmony in mind where the focus is on protecting the environment, the integrity of the island’s green spaces and the creation of a quality of life that reflects our vision of sustainable development.” The project is also hoping to qualify for Canadian LEED ND (Leadership in Energy and Environmental Design for Neighborhood Developments) status as it continues to impose LEED standards for the entire project. “The master plan has been accepted as part of the pilot project,” said Louis Joseph Papineau, a senior Proment executive. “To be accredited LEED ND, both the design and construction of the plan have to reflect an ecologically sustainable approach, including the incorporation of appropriate water and energy treatment protocols.”
In order to minimize dependence on private cars, a Communauto station will be established and an area has already been reserved for a BIXI bicycle station. The project’s plan will encourage the use of bike paths to the downtown core by planning for bike parking in each of the condos just as it will encourage walking by providing comfortable tree lined sidewalks and convenience stores at the heart of the development. The Zuni (Zone Unique - Nord de l’Isle) building, occupying a complete block, is expected to be a microcosm of the Pointe Du Nord: Project. It is a six storey loft style building offering 163 units, townhouses and small boutiques. Overlooking an interior garden, it will feature recreational amenities such as a rooftop pool, a gym and yoga studio along with a social room. Units will range from 53 to 114 square metres (575 to 1,230 square feet) and construction is scheduled to begin next spring, with completion set for the summer of 2011.
Govt. help promised for VSL sports complex
The federal and provincial governments announced last week that $35,005,283 will be invested to build a new multi-purpose sports complex in St. Laurent, as part of the Large Urban Centres Component of the Building Canada Fund — Quebec program.
The announcement was made by Senator Claude Carignan and Quebec public security minister St. Laurent MNA Jacques P. Dupuis, on behalf of Quebec municipal affairs minister Laurent Lessard. The two governments will be contributing $23,336,856 in total to the project — $11.6 million each. Montreal will contribute the rest. The planned centre will have a surface area of approximately 13,489 square metres, and be near the Émile-Legault Pavilion of St. Laurent High School. The complex will include, according to an announcement, “an indoor soccer field, a 25-metre swimming pool with a water acclimatization area for children and persons with reduced mobility, a 60-metre running track, a single gymnasium and an adjacent palestra, which can be converted into a triple gym for competitions; and several other areas, including a multipurpose room, and a training facility.”
“Urban and economically based infrastructure projects like the construction of this sports centre in St. Laurent borough are key to Canada’s future,” said Senator Carignan in a prepared statement. “They enhance the quality of citizens’ lives in a tangible and sustainable way and give impetus to job creation. Through our Recreational Infrastructure Canada Program, part of Canada’s Economic Action Plan, $500 million will be invested over two years in the modernization of our sports facilities across the country. Our support of this project is a tangible example of our government’s action.”
Dupuis described Quebec’s role.
“By providing the means to leave infrastructure in good condition for future generations, the government of Quebec unequivocally commits to intergenerational equity and sustainable development,” he said. “As a case in point, Quebec’s substantial contribution today will be used to build a multiple-purpose sports centre in St. Laurent Borough, and this will have a significant impact on residents’ quality of life, while encouraging the practice of sports. The realization of this project in Montreal will help stimulate the economy, create jobs and revitalize the living environment in St. Laurent Borough. This is yet another major project that is part of Quebec’s infrastructure plan for the upgrading, renewal and maintenance of public infrastructure in Quebec.”
St. Laurent mayor Alan DeSousa and his council were pleased with the announcement, saying “it will help bring about a project that has been very important to the municipality for many years, and in several respects. In addition to meeting needs regularly expressed by the St. Laurent population, the realization of this multipurpose sports complex ties in well with our sustainable development objectives as well as our health goals, which are to encourage residents to adopt a more active lifestyle. The new building will give us the opportunity to offer a broader range of physical and recreational activities in a healthy and inclusive environment where no group is left out — seniors, families, pregnant women, children and teenagers. It is a project that fits in perfectly with the new reality and that will have enormous spinoffs both for St. Laurent and for the entire region.”
Lavallee Team Committed to Transforming St. Marc Church into Cultural and Community center
Borough mayor and candidate for the November 1 election, André Lavallée, and the city councilor responsible for cultural issues and candidate in the district of Vieux-Rosemont, Gilles Grondin, announced a major commitment of their election campaign - the transformation of the St-Marc Church in Rosemont into a cultural and community center.
A Unifying Project for the Whole Community
"The church of St Marc is at the heart of the Rosemont-La Petite-Patrie and easily accessible. It is also recognized as high-rise architecture. The availability of such a place gives us a tremendous opportunity to mobilize the entire community around a unifying and promising flagship project," said André Lavallée.
The job of developing and delivering programming could be entrusted to a nonprofit organization from the community. According to Gilles Grondin, "the recipe has been proven beyond a shadow of a doubt in the case of Cinema Beaubien" and that "at the same time, it will be an important step towards the creation of a new house of culture.”
A Cultural Hub in the Heart of the Borough
"In recent years, the surrounding area has been expanded significantly. Upgrading the Molson Park, the success of the Beaubien Cinema and the transformation of many businesses have helped create, in the shadow of the steeple of the church of St. Marc, a dynamic hub where culture reigns at the forefront," said the candidate for mayor of Rosemont.
"Besides converting the church into a place that will embrace culture and community, the realization of this project will preserve a monument to our heritage", said André Lavallée. The space is sufficient to accommodate not only an important cultural activity, but also to accommodate some community organizations, as is currently the case. "As of 2010, we will make every effort to ensure that the magnificent project of transforming the church of St. Marc becomes a reality and we are sure we can count on the support of public and community,” he concluded.
de La Gauchetière to become Rue des Canadiens?
Hockey website, Hockey30.com reported today that Mayor Gerald Tremblay has a surprise in store for Montreal Canadiens fans. It is rumoured that the Mayor will announce on Friday that rue de La Gauchetière will be renamed rue des Canadiens. City hall spokesman Darren Becker confirmed the city's executive last year "looked at a possible way to honour the Habs as part of their centennial season" but wouldn't comment on the specific rumour. Habs spokesman Donald Beauchamp was tight-lipped when contacted by The Gazette to confirm the rumour. "I'm going to just have you wait a little bit on this one because we're planning something very soon" on Centennial Plaza. "We're planning on doing something on Friday for a number of things but I won't tell you what."
It's unclear if the entire length of la Gauchetière would be renamed or only the portion in front of the Bell Centre. Would it be the new official name or simply a secondary honourary name? According to the Commission de toponymie of Québec, responsible for managing the province's place names, la Gauchetière was named in honour of Daniel Migeon the sieur of de La Gauchetière, (1671-1746).
Articles by: William Jegher
wjegher@wikaconsulting.com