The real estate developer Groupe HD and the Quebec-focused investment fund Fondaction have broken ground on Laurea – Quartier d’ambition, a residential development in Montreal’s Olympic District sector.
According to the companies, the project represents an investment of more than $425 million and will offer approximately 1,200 residences that mix condominiums, townhouses and rental units. The development will also include more than 15% affordable units and is targeting LEED Gold environmental certification.
“This groundbreaking ceremony represents an important milestone for all the partners and collaborators involved in this ambitious project,” said Thomas Dufour, co-president of Groupe HD. “We are proud to bring this vision to life alongside Fondaction and the many firms and professionals contributing to the creation of a significant living environment for the sector.”
“At Fondaction, we believe real estate projects should first and foremost make a positive contribution to the communities in which they are developed,” added Chad Ruel, senior director of real estate investments at Fondaction. “In collaboration with Groupe HD, we are proud to support a project focused on residential diversity, quality living environments and the development of a neighborhood designed to meet the current and future needs of its residents.”
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