A flurry of major construction projects in Laval announced over the last few weeks suggests that a building boom – usually considered a significant positive economic indicator – may well be underway in the region.
Leading the list is a two-tower residential rental apartment project at the Carrefour Laval mall, announced on Nov. 18 by Toronto-based commercial real estate investor/operator Cadillac Fairview (CF).
A first phase of the development will feature 365 units across the two towers, featuring 20 and 11 floors respectively, sharing a six-storey podium housing the development’s common areas, including a swimming pool and other amenities.
In a statement issued by CF, they say their “foray into the residential rental sector is in line with the company’s diversification strategy within its existing land bank to address Canada’s critical housing shortage.”
“The exciting evolution of this property is a strong reflection of our ongoing commitment to the city of Laval.” said Brian Salpeter, executive vice-president for development at Cadillac Fairview.
Carrefour Laval, which first opened in 1974, celebrated its 50th anniversary last March.
The centre currently has 266 stores and is recognized as Quebec’s most productive retail destination, according to the International Council of Shopping Centres’ annual rankings in Canada.
Construction of the new residential project was set to commence before the end of November, with initial occupancy expected in summer 2027.
In commercial and industrial development, Monarch Specialties (a company that may be familiar to those who travel northward on the A-13 just past the link to the A-440) recently announced the start of construction on a major expansion of its warehouse, with Groupe Montoni carrying out principal work on the $50 million project.
In 2007, Montoni built Monarch’s very first building in Laval. Seven years later, in 2014, the two companies collaborated again on a first expansion of Monarch’s facilities to meet growing needs.
Monarch, widely regarded as a leader in the North American furniture and home decor industry, says the project will include three premises, including the warehouse to meet a growing demand for Monarch products as well as an ambition to expand home decor offerings.
According to the company, two additional spaces will also be available for lease, allowing other companies to benefit from Monarch’s strategic location at an increasingly important crossroads, a short distance from Pierre Elliott Trudeau International Airport.
Calling the move “a strategic investment in the future,” Monarch says the expansion will enable them to significantly increase inventory capacity and to improve its logistics processes.
They say the project is part of the company’s strategy to diversify and expand into new market segments, including upholstery and bedroom furniture, while adding that Monarch continues to strengthen its position in the North American market through strong partnerships with major companies that include Wal-Mart, Costco, Amazon and Wayfair.
Finally, the Canadian government had some good news recently for those who may have been wondering when a lasting resolution might be found for the country’s worsening housing crisis.
Laval was among nine Canadian cities where the federal government plans to release a dozen properties from its real estate portfolio to be added to the Canada Public Land Bank for redevelopment into affordable housing.
The properties in Laval include the former Laval Penitentiary (Le Vieux Pen) on Montée Saint-François in St. Vincent de Paul, and a tract of vacant land located next to a low-rise federal government administrative building at 1575 Chomedey Blvd.
“Wherever possible, the government will turn these properties into housing through a long-term lease, to support affordable housing and ensure public land stays public,” said a statement issued by Public Services and Procurement Canada.
