Image courtesy in title: CARBONLEO.
The multimillion dollar luxury project is projected to stretch over 250,000 square feet, next to the Ogilvy department store on Rue de la Montagne, and to account for 50,000 square feet of commercial space, 75 luxury condos, a five star luxury hotel, and a ballroom to hold 400 people. The centre of it all will hold a Holt Renfew-Ogilvy departmental luxury store, which connects to each of the individual architectural components.
The effects of such a project will be tremendous for St Catherine street and the downtown core, in which there has not been a commercial development on this scale for several decades. Chances are the area will be completely redeveloped in 2017, when the project is slated for completion.
Let’s talk about this complex a bit more.
The zoning is for 20 stories, the first 12 reserved for commercial spaces (such as boutiques, spas, food courts, and lounges) and the last 8 for condos. These luxury residences will flaunt 11 foot ceilings, panoramic views, and tons of lifestyle bonuses. The best thing about them will be their fully integrated convenience- who needs to leave their condo projects when you basically have the whole town at your fingertips? They’ll come with a price tag though- investors will need to cough up around $5 million dollars for one of these $1400 square foot spaces. A hefty sum but a sure investment, considering that this area will only expand with time.
Our thoughts on this new project?
From a real estate perspective, the Carbonleo project is sure to make the prices of surrounding condos sky rocket. This is great news for those who recently invested in condos close to the Downtown core, or who are thinking of doing so in the near future. The commercial spaces within the complex will raise the rates of employment in the area, subsequently increasing the demand for living spaces in its proximities.
We’re excited to see what changes this complex brings to Montreal’s Downtown!