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Devimco announces details of $750-million District Griffin mixed-use development near Montreal port lands

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by Daily Commercial News

The $750-million District Griffin project, in a former industrial area near the east end of the Lachine Canal in the Montreal borough of Le Sud-Ouest, includes residential, retail, community and business projects. The developer is Devimco and its financial partner is labour-sponsored investment fund Fonds immobilier de solidarite FTQ.

Montreal developer Devimco released this week details of the $150-million District Griffin Phase III project near Peel and Ottawa streets, in a former industrial area near the east end of the Lachine Canal.

The project, in Le Sud-Ouest borough, will include three 15-storey condominium towers plus a mall, including a Metro supermarket and Brunet pharmacy.

“Construction of the first tower will begin late in 2012, with the sale of units beginning officially today and occupation planned for the spring of 2015,” the company stated in a press release.

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The $750-million District Griffin project includes residential, retail, community and business projects.

“When the first three phases of District Griffin are completed, they will comprise 2,103 condominium units, including 315 affordable housing units, a 154-room ALT hotel, about 75,000 square feet of office space and more than 328,000 square feet of retail space,” the firm stated.

The third phase, announced April 18, is for the Peel block, on the east side of Peel Street between Wellington and Ottawa Streets. It is located just east of Pier 2, a proposed 107-unit townhouse development announced in February by Developpement des Bassins Inc. on former harbour basins. One of the four partners in that project is labour-sponsored investment fund Fonds immobilier de solidarite FTQ, which is also the financial partner of Devimco in District Griffin.


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Devimco’s $475-million Lachine Canal block, under construction in an area bound by the canal and Wellington, Shannon and Smith Streets, will include a 188-unit condominium tower, the ALT hotel, stores, restaurants and more than 75,000 square feet of office space. Completion is scheduled for the summer of 2013.

The $131-million St. Ann block is bound by Basin, du Seminaire, Ottawa and Rioux Streets. Construction on the first 114-unit condominium is scheduled to start in May.

The 14.5-kilometres Lachine Canal was closed to shipping in 1970, rendered obsolete by the St. Lawrence Seaway, according to the website of Parks Canada, which now operates the waterway as a national historic site.

DCN DIGITAL MEDIA

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