(TLN) In keeping with the growth rate of the City of Laval which is one of the highest in the province, the 2018 Laval Real Estate Forum saw record participation this year, with more than 400 people taking part on Nov. 20.
Organized by the City of Laval’s economic development department, the forum has become one of the most anticipated events each year for real estate development professionals in the Montreal area.
Economy in motion
In a word of welcome, Mayor Marc Demers referred to the currently favourable economic conditions as well as the importance of seizing opportunities, with a promising real estate sector now active in Laval.
As the third most important city in Quebec, Laval distinguishes itself thanks to major real estate projects, including the reconstruction of the Val-Martin housing development, the creation of a downtown area and the redevelopment of the Cartier and de la Concorde sectors in keeping with Transit Oriented Development (TOD).
‘A lot to offer,’ says Demers
“The city is aiming to increase its offer to better accompany developers while meeting all the necessary conditions to assure success to their projects, notably through financial incentives, but also through privileged access to a team of experts in real estate development, urban development and urban design,” said Mayor Demers.
“Whatever the nature of projects – industrial, residential or commercial – Laval has a lot to offer and important assets, notably with respect to its geographic situation and in terms of the quality of life.”
June economic forum
During the forum, Mayor Demers announced that Laval will be holding an economic forum next June with the goal of equipping Laval with a new development strategy. A new tax credit for revitalization was also announced, as well as an enhancement of existing tax credits, geared towards expansion.
A variety of programs were offered during the forum, including technical presentations and practices for builders and real estate developers, green initiatives such as Symbiose Laval, and panels drawing attention to real estate projects and workshops with themes such as sustainable development.
Expansion underway
Laval’s economy is currently undergoing major expansion which can be seen through the growth in its gross domestic product by 3.3 per cent compared to 3 per cent in the rest of the province.
It should be noted that this performance is largely the result of capital expenditures from the private sector which increased by more than 31 per cent, or in other words more rapidly than in all other regions in the country. A sign of positive things to come in 2019: the city has announced several new projects during the forum, with a total value of $800 million.
