MONTREAL, June 18, 2024 /CNW/ - Prével proudly announces the commencement of construction for new rental housing on Lot 3 of the Esplanade Cartier project. These residences will complement the rental offerings of Lot 2 and mark a further step in the realization of the ambitious Esplanade Cartier project, a mixed-use residential development located less than 200 metres from the Papineau metro station.

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The 20-story building, created in partnership with Ipso Facto and TGTA and in collaboration with Desjardins and Pomerleau, aims to achieve energy efficiency and reduce greenhouse gas emissions. The first residents will be able to move in by the summer of 2026. Located at the heart of the Esplanade Cartier project, between the future Tansley and Falardeau streets, the building directly overlooks the central park to the west, a verdant oasis rooted in the city centre. It offers views over the superstructure of the Jacques Cartier Bridge. To the east, tenants on the upper floors will enjoy views of the Saint Lawrence River.

Future tenants will also benefit from communal spaces and amenities perfectly adapted to urban living:

• A café-style lobby with coworking space
• A rooftop terrace with BBQ and outdoor pool
• Access to a complete sports centre, including a gym, indoor pool, and state-of-the-art equipment.

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"The construction of this new rental building allows for a critical mass of housing units to be launched in the heart of Montreal at a time when the city needs it most. The new residents of Esplanade Cartier will also contribute to enhancing the commercial and service offerings, thus promoting the revitalization of Sainte-Catherine Street East." - Laurence Vincent, President, Prével

Moreover, new tenants of the housing complex on Lot 2 have moved in at the beginning of June, as scheduled. However, demand has exceeded expectations, with nearly 60% of the units already rented, underscoring the urgency to accelerate housing starts. Hence, the start of construction on Lot 3 is excellent news.

Esplanade Cartier stands as a flagship development by Prével, designed to foster a vibrant community through its commitment to active transportation, public transit, and green spaces. This innovative project encourages social interaction among residents, workers, and visitors, offering a dynamic public square and a diverse mix of local shops, offices, restaurants, and terraces. It also integrates urban agriculture and supports community initiatives, including the YWCA. It will also introduce a project house, marking a first in Quebec's private sector. An expansive park will provide recreational opportunities and connect to a revitalized five-kilometre stretch along the St. Lawrence River to the south and the future park beneath the Jacques Cartier Bridge.

Founded 45 years ago, Prével is recognized for its expertise in real estate development, primarily carrying out large-scale mixed projects in central neighbourhoods of Greater Montreal. Prével's mission is to create enjoyable living environments that contribute positively to their community. Advocating for homeownership, sustainable development, urban agriculture and active transportation, local commerce, innovation, and urban living, the developer has also committed to revitalizing several neighbourhoods while creating unique, open, and inclusive environments. Through collaborative work with various communities, Prével has carried out numerous projects that have positively impacted the city's development and built heritage.

www.prevel.ca

SOURCE Prével Group