BROMONT SCIENCE PARK: AGREEMENT BETWEEN THE CITY AND MONTONI
6 million square feet in development
Bromont, Tuesday Septembre 7th, 2021 – The Bromont Science Park will benefit from significant momentum in order to continue its growth thanks to an important agreement between the City of Bromont and Montoni Group for the partial development of the industrial zone whose cumulative area is approximately 6 million square feet. The arrival of new businesses, in addition to generating new jobs, will contribute to Bromont's economic growth.
The City has committed to selling the land located on Montreal Road and Innovation Boulevard to Montoni Group at a selling price of $3 per square foot. The sale of the land will generate income of $18 million over time for the City, in addition to income from taxation and transfer taxes. Montoni Group will gradually acquire the land in question by building or making them available on the market. The developer will have an initial period of 5 years to fulfill the obligations of the agreement.
A unique site
This industrial zone will be composed only of buildings for industrial use, developed and built according to the applicable Urban Planning Regulations. The affected lots are located near highways 10, 20, 30 and 35, in Quebec, as well as 87 and 89, in the United States, connecting New York and Vermont. They thus benefit from a prime location - 50 minutes from Montreal and less than 30 minutes from the US border. The presence of Roland-Désourdy Airport with customs services is also a considerable advantage.
« My vision for Bromont has always included the development of the Science Park. Thus, the City Council, in recent years has made significant investments to install municipal services on the land. The industrial sector provides significant revenue for the City and its deployment releases the pressure on residential development. Also, for investors, the Bromont Science Park is a unique, amazing and dynamic living environment that is difficult to replicate elsewhere. » - Louis Villeneuve, Mayor of Bromont
“We are proud to have the opportunity to participate in the development of the Bromont Science Park thanks to the successful collaboration with the City. This unique site, strategically located between Montreal and the United States border, will meet current business demand for industrial land. At MONTONI, we specialize in green and smart buildings with a particular focus on the interests of the communities we serve. It is a great story that begins with Bromont.” - Dario Montoni, President, Montoni Group
This agreement was also made possible thanks to the work of the Bromont Economic Development Corporation (SODEB), which has been working for several years to attract investors to the Bromont Science Park. Its board of directors, staff and consultants are Bromont’s partners of choice in the city’s industrial development.
The Corporation’s board of directors, of which the mayor of Bromont is also the president, had taken some time in the fall of 2019 to reflect on a new plan to revitalize the Bromont Science Park. The Corporation therefore reviewed its strategic planning based on trends and best practices.
« It is in this context that the agreement with the Montoni Group takes place. Other important announcements related to the Bromont Science Park will certainly be unveiled in the coming months, » explains Louis Villeneuve.
About the Bromont Science Park
The Bromont Science Park aims to promote the gathering on its territory of companies in high technology sectors dedicated to research and innovation, by supporting their establishment and development in microelectronics, aerospace and advanced manufacturing clusters. In the Bromont Science Park, we find leading actors, particularly in the designing and manufacturing of semiconductors, hybrid and integrated circuits, connectors, tinning equipment and electronic modules.
A recognized technopole, the Bromont Science Park benefits considerable credibility due to the presence of world leaders such as IBM, GE Aviation and Teledyne Dalsa, as well as an industrial incubator and four research centers, including the MiQro Innovative Collaboration Center, a fundamental link between applied research and the rapid commercialization of microelectronic products.
A leader in real estate development in Québec, MONTONI has a portfolio of more than 500 projects representing more than 20 million ft2 of industrial, commercial, institutional and residential construction, 30 head offices and another 22 million ft2 under development. Proud holder of the Canada’s Best-Managed Companies designation for 20 years, Montoni Group has secured itself a prime position holding large land portfolios in the Greater Montréal region. The company distinguishes itself by offering a full range of services covering development, construction—from excavation to interior design—and property management. A LEED-accredited member of the Canada Green Building Council, MONTONI is committed to building a sustainable heritage based on leading-edge expertise. The Group has more than 4 million ft2 of LEED-certified buildings.
Among the developer's latest achievements are Espace Montmorency, a multi-functional complex of more than 450 million dollars located on the Montmorency metro station in Laval, as well as the acquisition, in 2019, of the grounds of the Molson brewery, in partnership with Groupe Sélection and the Fonds immobilier de solidarité FTQ, a development of more than 6 million square feet in downtown Montreal.
About Bromont Economic Development Corporation
The main mandate of the Bromont Economic Development Corporation is the economic development of the city, particularly in the industrial and technological fields. It receives a significant portion of its funding from the City of Bromont.
The Corporation manages, among other things, the grounds of the Bromont Science Park and the Pacific Street industrial park and carries out positioning studies with regard to the technological clusters involved: aerospace, microelectronics and advanced manufacturing. Its role also extends to strategic planning, the coordination of expertise to support start-ups, canvassing, granting of specialized mandates in addition to making recommendations to the city council.