Construction begins on $700 million residential development in Montreal, the city’s largest
September 27, 2019 by Megan Hoegler
Montreal’s skyline is about to get taller.
On Sept. 26, a team of developers broke ground on Maestria, the city’s largest mixed-use residential real estate project. A joint effort between Devimco Immobilier, the Fonds immobilier de solidarité FTQ and Fiera Real Estate, the project was first announced in November 2018 and is expected to reach completion in 2023.
Projected to cost over $700 million, the project’s two towers will be 57 and 61 storeys high and house a combined 1,750 residential units. The development will also have a public plaza for retail shops, several restaurants, a virtual-golf room and a “Skylounge” with terraces among other features.
Devimco says they will apply best pratices in sustainable development and environmental responsibility in hopes of obtaining LEED certification on the project. General contractor, Edyfic Construction, a subsidiary of Devimco, will oversee the project.
“We are excited to be playing a role in the accomplishment of this flagship project… that will benefit the entire Québec economy,” said Normand Bélanger, president and CEO of the Fonds immobilier de solidarité FTQ, in a release.
Located at Ste-Catherine Street and Bleury Street in downtown Montreal, the first of the two new towers will be built on the site that once housed well-known concert venue, Spectrum de Montreal.
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