ESPACE MONTMORENCY ANNOUNCES COURTYARD BY MARRIOTT HAS JOINED THE PROJECT MARRIOTT INTERNATIONAL HOTEL GROUP ADDS A NEW ADDRESS IN LAVAL TO ITS PORTFOLIO
LAVAL, February 23nd, 2022 – The partners in Espace Montmorency—MONTONI, Selection Group and the Fonds immobilier de solidarité FTQ—are proud to announce an agreement with Marriott International, the world’s largest hotel chain, which will occupy the hotel portion of this mixed-use development in the heart of Laval. The agreement will see a new Courtyard by Marriott hotel become an integral part of Espace Montmorency, an urban hub directly connected to Montréal's underground network via the Montmorency metro station, with an impressive offering of offices, cafés, restaurants, 717 residential units and inviting green spaces, which will create a vibrant and animated new space for the community and visitors.
The $45-million hotel, slated to open in fall 2022, is backed by a group of investors made up of Urgo Hotels & Resorts, MONTONI, Selection Group and the Fonds de solidarité FTQ. Management of the hotel will be ensured by the Canadian business unit of Urgo Hotels, internationally renowned for its expertise and high-quality administration.
The Courtyard by Marriott hotel will occupy Tower III of Espace Montmorency, at the corner of Lucien-Paiement and Claude-Gagné Streets, and comprise 188 rooms on 10 floors, with a total area of some 113,000 square feet. Besides offering access to the full range of the Espace Montmorency complex’s services, the hotel will feature a restaurant, a lounge bar, a business centre for meetings, individual workspaces, reception halls and exclusive terraces, including one on the second floor and another on the roof (the lounge bar), plus access to the complex’s indoor parking garage.
Hotel guests will enjoy the direct underground connection to the Montréal métro, a strategic location adjacent to the Place Bell arena and an extensive array of dining options bordering the 60,000-square-foot Espace Montmorency verdant inner courtyard. The complex, valued at $450 million overall, is slated to welcome its first tenants in spring 2022.
LEED Gold Certification
Espace Montmorency was planned based on rigorous environmental values designed to make it a benchmark for mixed development projects. The partners are aiming to obtain LEED Gold certification for the Core and Shell of the hotel and the two residential towers of the complex, as well as LEED Platinum certification for the office tower. These measures are intended to cut energy costs by more than 50 %, representing an 80% reduction in GHGs. The project was also awarded a Gold level LEED v4 ND certification related to neighbourhood development.
“I am extremely proud of the agreement we successfully concluded with Marriot and very happy to welcome this world-class hotel banner to Espace Montmorency. The arrival of the hotel, combined with the development’s impressive offering of offices, boutiques, restaurants, and residences will truly energize an already vibrant neighbourhood and will further confirm the establishment of Laval’s new downtown core.”
– Dario Montoni, President
“This flagship project is in keeping with our mission of creating communities by building living spaces that are not only conducive to great business relationships but to bringing together people from all generations. The hotel will stimulate activity and enliven the area for Espace Montmorency tenants, and be a draw factor that will contribute even more to this project’s live/work/play philosophy. We are proud to help bring a high-quality hotel complex to Laval in a strategic part of its downtown.”
– Réal Bouclin, Founding President and CEO
“Espace Montmorency is a pillar of Laval’s economic development. We recognized the huge strategic potential of this site when we acquired it some years ago. Today, as a partner in its development, we are witnessing first-hand its positive impacts in terms of jobs, for the shareholder-investors of the Fonds de solidarité FTQ, and on the entire economy.”
– Normand Bélanger, President and CEO
Fonds immobilier de solidarité FTQ
“The arrival of the Courtyard by Marriott in the heart of Laval’s new downtown core is sure to enhance the recreational and tourist appeal of this booming district. As it looks to better days ahead after two challenging years, the hotel industry is ready to welcome tourists and travellers. With that in mind, we are delighted to be working once again with Urgo Hotels Canada for this project, as well as with MONTONI, Selection Group and our colleagues at the Fonds immobilier de solidarité FTQ. The Fonds has supported the Québec hotel industry for nearly 20 years now, and this investment is proof that it intends to continue doing so in the years to come.”
– Daniel Hinse, Vice President, Investments – Entertainment and Consumer Goods
Fonds de solidarité FTQ
“We are thrilled to be opening a hotel in Laval, right in the heart of the biggest mixed-use urban development currently under construction. The primary market for our Courtyard by Marriott concept banner is business travel, but we also pay close attention to the needs of families. The strategic location of Espace Montmorency, with its easy access to the highway network, public transit and neighbourhood services, was a decisive factor in our choice of Laval as a destination. We are fortunate to be teaming up with such experienced partners for the management of this premium property, which will breathe new life into the hotel offering in Montréal’s Northern Crown.”
– Serge Primeau, Managing Partner and President
Urgo Hotels Canada
A leader in real estate development in Québec, MONTONI has a portfolio of close to 500 projects representing more than 20 million square feet of industrial, commercial, institutional and residential construction, 30 head offices and another 22 million square feet under development. Proud holder of the Canada’s Best-Managed Companies designation for more than 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 4.5 million square feet of LEED-certified buildings. For more information: www.groupemontoni.com/en/
About Selection Group
Selection Group is an international leader in the creation of intergenerational living environments, which leverages its real estate platform to invest in innovative solutions and avant-garde multigenerational projects that improve residents’ quality of life. Selection Group’s intergenerational vision and unique vertically integrated structure are key drivers of its continued geographic expansion and the diversification of its real estate products, which target young people, families, and retirees. Selection Group has managed to maintain a customer satisfaction rate of 95% year after year amidst tremendous growth, due to the commitment of nearly 5,000 dedicated employees across Quebec. Selection Group, whose head office is located in Laval, now has more than 70 housing complexes in operation, under construction and in development in Canada and the United States and assets valued at more than $5 billion. For more information please visit: www.groupeselection.com.
About the Fonds immobilier de solidarité FTQ
The Fonds immobilier de solidarité FTQ helps drive economic growth and employment in Québec by strategically investing in profitable and socially responsible real estate projects in partnership with other industry leaders. The Fonds immobilier backs mixed-use, residential, office, commercial, institutional and industrial projects of all sizes across Québec. As at December 31, 2021, the Fonds immobilier had 54 projects worth $4.9 billion in development or construction that will create some 40,000 jobs, along with 84 portfolio properties under management, 1.8 million square feet of land for development and $146 million allocated to affordable, social and community housing. The Fonds immobilier is a member of the Canada Green Building Council — Québec division.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ invests to build a better society by channelling the savings of its 734,580 shareholders into development and risk capital investments to help Québec transition to a green economy, to a human-centred world of work, and to a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $18.3 billion in net assets as at November 30, 2021, the Fonds has supported more than 3,400 partner companies and over 247,000 jobs.
About Urgo Hotels & Resorts
Urgo Hotels & Resorts is a Bethesda, Maryland-based hotel company that develops, owns and/or operates distinctive and unique hotels and resorts in major markets and resort locations in the U.S, Canada and the Caribbean. The current portfolio comprises 43 hotels with more than 6,300 rooms, including some under construction and an active pipeline of acquisition and development projects. Urgo Hotels & Resorts owns and/or manages 11 properties in Montréal and a total of 17 in Canada. The company develops, builds and operates for its own account, and provides third-party management and asset management services. www.urgohotels.com
About Marriott International
Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 8,000 properties under 30 leading brands spanning 139 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly-awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.