Struggling with a chronic lack of space, Collège Montmorency is expanding into the office tower of the Espace Montmorency complex, with final handover scheduled for winter 2023.
Posted at 8:00 am
Espace Montmorency is a 450 million multipurpose complex located at the metro station of the same name on Île Jésus.
Produced by Montoni, Groupe Sélection, the Fonds immobilier de solidarité FTQ and Montez, the total area of 121,000 m2 has more than 700 rental units, a 188-room hotel, a 30,700 m high tower2 of offices and shops.
The nearby Montmorency College will rent two complete floors for a total of 4800 m for 10 years2. The facility, which houses 8,000 students, suffers from a shortage of premises, estimated at 11,000 m2. CEGEP students can move into the new premises from the 2023 winter semester.
“We’ve been cramped at Montmorency College for a number of years,” Olivier Simard, the establishment’s director-general, said in an interview.
“The number of admitted students recognized and funded by the Ministry of Higher Education will end at about 9300 students in 2029. The number of students is currently 8,300.
Adjacent to Cégep, Espace Montmorency will house the outposts of DHC Avocats and Scotiabank.
“We will establish a financial center there that will bring together our middle-market commercial banking teams, our Roynat subsidiary and our wealth management teams,” said Mathieu Beaudoin, senior director, global communications, Scotiabank, in a press release.
The tendency to open satellite offices is strong, observes Dario Montoni, President of the Montoni Group. “Office users are looking for offices close to where their employees live,” he says on the phone.
The eighth floor is designed for collaborative work: shared offices, meeting rooms and terraces, available upon request.
The office tower is now 60% let, taking into account the previously announced tenants, the auditors Deloitte, Montoni and Groupe Sélection.
On the commercial side, leasing is doing well, with almost 90% of the space occupied: an abundance of restaurants and a few convenience stores. Espace Montmorency is located opposite the Place Bell Amphitheater and has a capacity of 10,000 people.
Among the shops, cashless grocer Aisle 24 stands out from the crowd. Founded in 2015 in the Toronto area, Aisle 24 aims to eventually open 100 grocery stores in two specific formats. In Montreal, the first two grocery stores have opened: one in Griffintown, rue Williams, the other in Old Montreal, rue Wellington.
- Office availability rate in Laval in the first quarter of 2022
Source: Avison Young